Last year was a watershed for estate agents the world over. Records tumbled month after month, as many of you banked commission cheques most had only dreamed of.
A decade of quantitative easing, low interest rates, and pandemic-era government stimuli have made real estate, typically an illiquid asset class, more liquid than ever before.
With homes on the market for days rather than months, bidding wars became front-page news. It’s been in-sane!
There are no guarantees that these good times will continue. With inflation already exceeding central banks’ expectations in many developed economies, there is a very real risk of markets turning around.
Even if you’re not concerned with worst case scenarios, have a look at what some real estate thought leaders predict will be crucial for success in 2022:
The Market Guru
“The UAE real estate market has the potential to attract $350-450 billion worth of investment. If you look at returns in Dubai, capital growth is sitting at about 30%, with yields at around five per cent, clearly outperforming some of the key markets in Europe.”Ian Albert – CEO of Colliers International MENA
The Virtual Property Investor
“Virtual real estate ownership is taking off in a big way. The unbridled scale of what’s theoretically achievable in the Metaverse, compared to its real world equivalent, is pulling in investors from all corners of the globe.“Ayman Alashkar, Founder and CEO of overwrite.ai
The Land Economist
“With 2022 set to be competitive as both new unit completions and off-plan sales launches rise, we expect (UAE) developers to continue to explore incentives to attract buyers.”
Chris Hobden, Head of Strategic Consultancy, Chestertons Mena.
The Brand Enthusiast
“For agents to break through the crowd and grow their business, authenticity and genuine connection are more important than ever. Agents need to use their online presence to position themselves as trusted partners. A clear, compelling, memorable personal brand built on YOU is the most important marketing strategy that will help any agent cut through the noise and stand out in a sea of salespeople in their market.”Ryan Serhant, Founder & CEO of SERHANT.
“The biggest trend agents should look out for is social media’s continuing shift to short-form, high-quality, vertical video. Agents must evolve with major platforms and focus on producing entertaining/educational content. If your posts aren’t immediately capturing attention or providing value, they will receive little to no engagement and your social media presence will be overshadowed by the agents who go all-in on video. ‘Just Solds’ and ‘Just Listed’ posts will no longer get the job done as users will scroll right by content that is not keeping them entertained. In order for agents to succeed in 2022, they must produce consistent, high-quality video on all platforms to stay top of mind and relevant to their clients and prospects..”Eric Simon, LA Realtor, Founder of The Broke Agent
“In 2022, we will begin to experience using NFTs in real estate to improve and streamline the closing process and work toward instantaneous settlement by using blockchain to register title, surveys, transfer a property, and complete all background diligence, thus ensuring the transaction’s integrity. Smart agents will ramp up their understanding of blockchain and how the technology can affect their business.“Erin Sykes, Luxury Real Estate Advisor, Chief Economist, Nest Seekers International
Of course, none of us have a crystal ball.
The key is to identify and develop a path that will rocket-fuel you into 2022.
Agencies must be prepared for both challenges, and opportunities. Future-proofing operational systems, embracing technologies and best-practices that support their ambitious agents.
What do you think 2022 has in store for real estate agencies serving your target audience? Let us know in the comments below!
overwrite.ai is an AI-assisted content creator that helps real estate agents instantly curate unique and search-optimised property marketing descriptions.