On this edition of “Keeping It Real,” a recurring podcast series on Inman, Peter Lorimer discusses why leaning into the fundamentals is the best way to stay positive.


In challenging times, it’s a smart idea to revisit the fundamentals of good business. This spring, go Back to Basics with Inman.

On this edition of “Keeping It Real,” a recurring podcast series on Inman, Peter Lorimer discusses why leaning into the fundamentals is the best way to stay positive.

Over the past few weeks, I’ve spent countless hours in virtual meetings with real estate agents here in the Los Angeles. And one question that’s come up a whole boatload of times is this: “How do we prepare for the market post-COVID?”

I like it because it’s a proactive question. We’re trying to figure a way out. It’s a timely one, too.

On the West Coast, there’s a concerted effort of small gentle footsteps toward optimism. I’m hearing an ever-so-subtle rise of agent chatter. I’m spotting slightly more houses on the market. And I’ve seen an increase in escrows.  

 

 

So, how do we prepare?

By going back to the fundamentals. Back to the basics, if you will. And by asking yourself the most important question there is when working with buyers and sellers. 

“If this were my house, what would I do?” And then do that. Do what you’d do for yourself. While you’re at it, make sure to let the data speak first. Show your clients the numbers and the comps — and let those things do the talking. 

We could go into all the technology, all the apps, all the websites and all the techniques. 

But really, they don’t mean much without the basics of good real estate. And now’s probably the best time there is to sharpen those fundamentals.

It’s all beginning to thaw out, folks. We’re in a better place than we were two weeks ago. 

Above all, stay the course. Fear is hellbent on grabbing the wheel, but if you let service and optimism guide you, you’ll get there.

For more on real estate post-COVID, listen to this podcast

Peter Lorimer is the CEO of Beverly Hills, California-based PLG Estates.

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