With the Covid-19 breakout in 2020, every sector, including real estate, suffered a major setback. Realtors have had a roller coaster ride over the previous two years. Let’s see what they can expect in the coming year.
An increase in the number of buyers & investors is expected.
With the economy badly affected by the pandemic, stocks have dropped drastically. This led to an upsurge in the number of property investments, as the prices were at a record low which made properties affordable for many.
This tendency is expected to continue in the upcoming months as well, as the economy will take time to recover.
To boost client demand in the market following COVID-19, interest rates and prices will remain low. All of these favorable elements will make real estate investment a top choice.
Uncertainty drives shift
During the lockdown, many people underwent an indecision phase regarding significant aspects of their lives. One such concern was to live in rented accommodations, which raised serious questions about occupancy vs. ownership.
Many people realized the importance of real estate investment, which has proved to be a good source of income & as a means for safe shelter, during uncertain times.
Property investment proved to be promising since it allows you to rent or lease properties and generate a consistent source of income while also providing stability in terms of housing arrangements when compared to rental agreements.
Also Read: 4 Perfect Strategies for a Long-Term Real Estate Relationship
Rising Digital Adoption
The pandemic-driven rapid migration to digital technologies will continue in 2022. With digital tools, realtors can easily keep a track of their inventories & transactions.
By adopting digitalization, real estate businesses can easily streamline all the processes from site visits to booking.
To stay on top of the competition, realtors are shifting towards digitalization.
Long term assets
Epidemics and recessions have occurred in the past, but the world has always managed to recover. Market volatility is only temporary, so long-term investors need not be concerned.
Furthermore, any investor understands that long-term investments, such as commercial property investments, are more favorable than short-term investments since they generate greater returns. For this reason, purchasing rental property will continue to be beneficial even after COVID-19.
The real estate industry is vital to the economy and public wellbeing. As a result, governments may intervene with specific measures to aid growth. Let’s all wait for the Union Budget 2022.
All of these factors indicate that real estate is a safe investment option and will remain so after COVID-19.
This is the moment for realtors to buckle up and start planning new initiatives to increase sales. A real estate CRM like RealE 360 is a lifeboat for them, no matter how long the process takes, from the beginning to the finish of the sales funnel. Start today with RealE 360!