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What a difference a year can make. The coronavirus had experts predicting that house prices would fall, but, the South African real estate market has experienced a boom since the hard lockdown was lifted in June 2020.
The pandemic has also accelerated certain changes in the industry which have emerged in the past few years, including remote working, the growth of ecommerce, and semigration. The economic impact of the pandemic has also highlighted affordability, with buyers, sellers, landlords, and tenants now looking for more value in the services being provided to them. These shifts have altered traditional buying, selling, and renting habits and are set to have a significant impact on how real estate businesses are run.
In an evolving market, the performance of real estate agents and their ability to assist their clients will be a key focus. This will require many to rethink their traditional processes in favour of a more tech-enabled and customer-centric business model.
“Our industry is highly competitive and to survive you have to find different ways of operating, like adapting to digital,” says Chas Everitt International Director Barry Davies. “There's also always pressure to offer something unique to sellers to secure a sole mandate, or to buyers to secure the relationship after a sale and any future repeat business. That's why you want to provide every buyer, seller, landlord, and tenant with a positive and memorable real estate experience, and enable your agents to remain at the centre of each real estate transaction.”
To differentiate themselves in the market and keep their agents at the top of their game, real estate businesses should be looking at digital tools designed for the property industry.
“We understand just how tough this industry can be and that businesses are looking for something that sets them apart and helps their agents to be more focused, efficient, and ultimately successful,” says Adrian Zanetti, director at Hey Jude.
“The biggest asset in a real estate business is its agents and their most precious commodity is time. Free up their day by removing mundane, personal tasks, and agents can focus their energy on serving more clients, securing more mandates, and closing more deals,” explains Zanetti.
As the industry moves from a transactional to a more relationship-focused model, the adoption of digital solutions enables real estate businesses to better support their agents and ultimately provide their clients with a more rewarding experience.
Writer : Hey Jude