The real estate industry may not be the hardest-hit industry by the ongoing pandemic, but it was nonetheless negatively affected. With many of the workers involved in construction works belonging to the migrant sector, a lot of them chose to stay at home and leave their jobs. This, then, led to some real estate development companies getting crippled by the lack of available manpower to complete their projects.
Meanwhile, real estate agents also had to deal with their fair share of challenges, including how to best market the properties they handle without exposing themselves to potential COVID-19 transmission.
Now that the world has entered what is dubbed as the New Normal, the real estate industry must quickly learn the proper ways of adapting to such a paradigm shift for it to survive and thrive. Specifically, it has to continue its development projects and remain productive even amid an ongoing global health crisis.
If you’re involved in this industry, here are four New Normal productivity hacks you should heed:
Periodic upkeep of equipment
If you are a property developer, you know full well just how critical it is to ensure the flawless condition of your construction equipment and other tools used to build commercial buildings and private residences. One heavy piece of equipment that suddenly bogs down in the middle of a big construction project has the potential to set you back both in your ability to hit the deadline and the financial downfall of such a delay.
Knowing this, you should periodically have your equipment maintained by your in-house mechanics or by an outsourced company that specializes in heavy equipment upkeep. For example, you should hire a company with proven expertise in handling Caterpillar diesel engine repair and maintenance tasks for real estate developers. This way, you can be sure that every piece of equipment in your fleet is properly maintained and in good working condition to meet the demands of your projects.
Incorporation of digital technology
Whether you’re a real estate agent or a property developer, you should begin incorporating digital technology in the various aspects of your operations. In an increasingly digital business landscape, businesses that make all efforts to transition from analog to digital have the highest growth potential.
The COVID-19 pandemic, for better or worse, has made this reality more pronounced as real estate industry players began to use virtual reality (VR) and augmented reality (AR) in creating an immersive experience for potential buyers and tenants. Other digital tech tools have seen increased use in the real estate realm such as contactless payments and mobile apps for communication and collaboration.
If you want to propel your real estate business to great heights amid the pandemic and beyond, then you should begin your digital transformation right now.
Strict implementation of COVID-safe protocols onsite
It’s no secret that cases of COVID-19 transmissions are still practically high across the globe, which means that no one can be truly safe from the deadly disease yet. This, even if there are now vaccines from big-name pharmaceutical companies being rolled out in many countries. As such, you should ensure that there will be constant strict implementation of COVID-19 safety protocols in your office or worksites to avoid potential transmissions.
For one, real estate agents, construction and office workers, and clients should observe at least six meters distance when dealing face-to-face. Another is to require everyone to wear masks and use hand sanitizers, soap, or alcohol as frequently as possible. You should also place these items in strategic locations in and around your business perimeter.
Finally, you should hire professionals to periodically disinfect your office and worksites to get rid of whatever virus particles there are in high-contact points such as door handles, elevator buttons, and railings.
By enforcing these safety measures, you can enjoy hassle-free daily operations throughout the New Normal.
Establishment of solid partnerships with multiple suppliers
This pandemic caused a ripple effect in the global supply and distribution chains, including construction materials used heavily in the real estate business. If you have several ongoing projects and several others in the pipelines, you should not put all your eggs in one basket, so to speak.
This means you have to establish reliable partnerships with multiple suppliers, so you can source your needed materials from another supplier whatever items your main supplier lacks. By having this kind of safety net, you won’t have to deal with a lack of building materials that could compromise your projects and lead to lost opportunities.
With these four tips, you can enjoy excellent productivity in your real estate business during the New Normal.