The global property market hit the brakes when Covid-19 struck in February. Since then drops in lending rates, fiscal policy initiatives, and new demand trends created a resurgence in activity; led mainly by people trading-out of cramped apartments into larger homes offering more space.
For particular property types, prices are back at pre-covid levels, some even selling above their asking price. Their landlords are seeing their prices bid upwards, and they’re riding that gravy train.
Enter: Bidding Wars! But how can you emerge as the victorious broker?
A new real estate industry report released by Informa Markets, the organiser of Cityscape’s Real Estate Summit, has surveyed 488 property industry professionals from the MENA region.
Respondents ranging from developers and architects, to private and institutional investors, consultants, estate agents and government staff, were asked about the region’s residential, commercial, retail, industrial and hospitality sectors.
What does it take to become a top real estate agent?
There’s no denying the profession is relentless; with extreme working hours, emotional roller-coasters, short-weekends, and no guaranteed income. Estate agents must be prepared, sometimes through no fault of their own, for deals to crumble at the last minute.
So, it’s no exaggeration that many of the world’s top brokers eat, sleep and breathe real estate.
Every estate agent knows that feeling of putting time into viewings, phone calls, and meetings. The effort of hooking customers using convincing arguments. The excitement of getting a deal to its negotiation stage. And the disappointment when it all falls apart in a big heap of wasted time.
Nobody likes wasting their own time. Yet many agents use one ‘trick‘ that’s almost always guaranteed to throw away their negotiation from the outset.
A few weeks ago we noticed a growing trend from US and UK estate agents calling to ditch use of the term ‘Master’ bedroom in the wake of the #BlackLivesMatter movement. So we asked 500 UAE based agents to choose which option they preferred from between
Property portals and agencies see activity take off
Following the UK Chancellor Rishi Sunak’s recent announcement of a Stamp Duty (property tax) holiday for the real estate market, portals and estate agencies are seeing enquiries and leads rise rapidly, as significant tax cuts take effect from July 8th.