Register for the webinar here.
It is estimated that there are nearly ten thousand property related portals and marketplaces around the world. They operate in different segments from rentals, primary sales to secondary sales and have differing financial models. Each of them has to deal with complex underlying real estate market structures, different operating economics, different Government legislation and varying levels of competition.
Over the last 3 weeks I have been assisting eight companies across the globe. They are all experiencing the same change in fundamentals – listings are DOWN, traffic is DOWN, leads are DOWN and transactions are DOWN. Their customers – the agents – are in deep trouble and this is being passed onto the portal and marketplace.
It’s obvious what is far more important to all of them is a simple – WHAT TO DO TODAY TO LIMIT THE IMPACT OF THE VIRUS.
What has become clear is that when looking for guidance around what to do during this crisis, one size will not fit all.
Industry analysts and consultants often point to what the big boys (Zillow, realtor.com, realestate.com.au, Rightmove, ImmoScout24, etc.) are doing. This is fundamentally irrelevant for 99 percent of the portals and marketplaces globally. The big boys are super profitable, sitting on strong cash reserves, and operate (mostly) in established markets. The US examples are most irrelevant as they operate in an MLS driven market with extremely large cash reserves.
On Monday we are running a FREE webinar where we will discuss what property portals and marketplaces around the world are doing TODAY to combat the impact of CoVid-19 on their business operations. The information we will share is the result of a detailed survey of around 150 portals and marketplaces around the world.
In particular we will detail during the webinar:
Financial initiates being undertaken today to help agents and developers
Non-financial approaches to building a stronger relationship with customers
Tools being developed to help agents and developers operate in a social distancing world
Cash preservation initiatives to ensure they survive the downturn in their businesses
Of course, this is an interactive webinar, so you can ask questions as we go.