Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Agent/broker perspective: How can brokers support agents in the wake of natural disasters?

10/02/2017

Download PDF

In this monthly column, Anthony Askowitz will explore a hypothetical Miami real estate situation from both sides of the broker/agent dynamic.

An experienced Miami real estate agent needs her broker’s support after a hurricane creates chaos for her customers.

Agent perspective

When you do real estate in this part of the world, the threat of hurricanes is just something you live with. We have been lucky to avoid a major one for some time and are extra-lucky that this monster storm only impacted us indirectly.

However, the damage and turmoil are widespread even with this minimized impact, leaving so many of my clients in chaos with respect to their homes.

Where to begin?

I’ve got sellers with roof, tree and fence damage wondering about the extent of their responsibility; buyers with pending contracts asking if they should back out; and many of both don’t even have their power restored.

How agents dominate with multichannel content marketing Win listings and overwhelm competition by mastering the art of social media, direct mail and email READ MORE

The good news is that I have been through this before, and I actually have the answers! (Trees do not need to be replaced by under-contract sellers, but fences and roofs do.)

The bad news is that I have to tell all these people that we basically have to start over, that all pending contracts need to be renegotiated and all the homes under contract need to be re-inspected. And of course, each situation is different and requires varying levels of attention and hand-holding.

So my dilemma is this: I know what to do, but I could use my broker’s help in organizing and prioritizing my response.

Broker perspective

This situation goes to the heart of the agent-broker dynamic. When disasters like this occur in real estate, agents should be supporting their clients, while brokers and companies should be supporting our agents. This is exactly when our clients and customers need us the most.

First, I would advise my agents to take a deep breath and mentally prepare for the challenging days and weeks ahead. Be realistic about the demands that will be placed on you from all sides, but have confidence in your ability to persevere.

Second, reach out to your clients as soon as possible, and ask them the basic questions you would ask any fellow human being:

How are you? How is your family? Is everyone OK? What do you need?

If you have any of the essential things they lack at the moment (food, shelter, clothing, electricity, running water, etc.) and have the means to provide it, don’t hesitate to do so or see if your company can.

Once the critical needs have been met and resolved, you can start discussing business. Make every effort to be the calm voice of reason, but also be straight — tell them bad news honestly and directly, but explain what you are going to do about it.

Be prepared to repeat yourself, particularly to the most-severely affected customers.

When it comes to all those contracts you need to renegotiate, be creative with incentives and credits that will address any disaster-related damage.

Finally, stay in touch with your colleagues and brokers to be sure you have the latest and most accurate information, as disaster-related policies can change by the day.

For example, we recently learned about selected home lenders who are allowing storm-impacted borrowers to place the first three months of a mortgage on the back end of their loans, creating significant financial freedom and peace of mind.

How to meet halfway

Our ability to predict and forecast natural disasters has improved dramatically over time, while innovation, technology and stricter building codes have allowed for infinitely safer construction.

But hurricanes, earthquakes, tornadoes, extreme heat, forest fires, etc., will always pose serious and unpredictable threats to real estate that professionals will need to manage together.

In calmer times, the broker should take the lead in drafting a natural disaster plan (with input from agents) and hold annual seminars to prepare management, agents and professionals.

To support the National Association of Realtors Relief Foundation.

To support the American Red Cross disaster relief, or specifically for Hurricanes Harvey or Irma relief.

Anthony is the broker-owner of RE/MAX Advance Realty in South Miami and Kendall, leading the activities of more than 165 agents. He is also a working Realtor who sells more than 150 homes a year. Earlier this year, the Greater Miami Chamber of Commerce honored him with the R.E.A.L. award in the category of “Real Estate Broker – Residential.”

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • How urban buyers are creating space and redefining how they live

    We’ve all experienced the shift this year: luxury buyers opting for spacious homes in the suburbs ...

  • Realable puts a unique spin on virtual tours

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Navigating the long-term decentralizing of work (part 2 of 2)

    As interest in urban condos fluctuates and suburban mansions see multiple offers, the shift to decen...

  • Growth-oriented Keap hits most of the CRM high notes

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • What the decentralizing of work means for your market (part 1 of 2)

    Successful professionals in business and finance are some of the leading buyers and sellers of luxur...

  • Part Instagram, part Pinterest, property search gets social with Rila

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Where do buyers want to retreat to this year?

    For luxury real estate buyers, the search has begun for homes where the nearest neighbors are large ...

  • Manage leads, listings and loans with Townify

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • 3 trending outdoor amenities buyers are looking for

    Easy access to the conveniences consumers once enjoyed outside their homes — from spas to gyms to ...

  • OpenFrame brings new twists to its virtual home tour app

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

October 2020
Mon Tue Wed Thu Fri Sat Sun
 1234
567891011
12131415161718
19202122232425
262728293031  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...