NEW YORK CITY-  Elegran, a tech-driven real estate brokerage firm headquartered in New York, is making an effort to preserve cash, negotiate vendor contracts, study available data and communicate with its clients to weather the effect of the coronavirus pandemic, also referred to as COVID-19, Michael Rossi, CEO of Elegran, tells  “From a financial perspective we are in hibernation mode; from a tactical response standpoint we are adapting daily to rapidly-changing circumstances,” he said. 

Elegran was built on a foundation of technology. The incorporation of technology and virtual communication had already started to creep into the rest of the real estate industry, and COVID-19 has acted as a catalyst to make it commonplace, according to Rossi. “We continue to focus on agent training to leverage virtual communication and ensure the business can continue to run ‘as usual,’” he said. “Safety and protection of our workforce is a priority.” 

To help stem the spread of the virus, Elegran’s office is closed and all management, staff and agents are working remotely. The firm is increasing communication and collaboration across all departments. Each layer of management is meeting daily and the executive team is in regular contact as well as its salespeople. Its human resources department is also monitoring agent and employee status.

Showings and appointments are being conducted digitally via FaceTime, Zoom and Google Meet. For added flexibility and efficiency, Elegran is hosting 2-3 agent training sessions per week, and they are well-attended, according to Rossi. 

In addition, to keep clients informed and engaged, the firm is planning a weekly consumer-facing virtual information session with industry leaders, as well as increased blog content and thought-leadership.