A YEAR NAMED 2020: THE YEAR OF “REALTY DIGITIZATION” ADOPTION


By: Aziz Mithaiwala

Managing Director
Pegasus Real Estate

It started like any other year, full of new resolutions, hopes and promises. As businesses set out to prepare their annual strategies, plans and goals, something monumental was stirring in China that would soon blow out of proportion. The Novel Coronavirus took the world by storm that led to a snowball effect of extraordinary, overwhelming and unprecedented challenges. It shook the foundation of governments, healthcare systems, communities, businesses, and rightfully so, received the term “global pandemic”.

The very unprecedented nature of this crisis led to several ground-breaking innovations worldwide that were not only health-appropriate but also empowered business sustainability, anything to prevent hitting rock-bottom. After all, necessity is the mother of all inventions.

Adapting to the circumstances while prioritizing the safety, comfort and convenience of a client
and yourself is of utmost importance. Convincing and ensuring the health and well-being of our clients must be top priority and more so during the pandemic. Following the required steps issued by the ministry officials to ensure the safety of our clients and colleagues is key. Our goal should be to provide “Safe, Smart, Secure” real estate services. Spontaneously adapting to smart communication methods that are not only appropriate but effective for all is the key here.

At Pegasus, we adapted to the different phases of this pandemic with dexterity and emerged as more self-reliant, stronger and innovative than before. Now in 2021, we are serving our clients dedicatedly with more vigour and custom-made solutions. As times have changed, so has the real estate market, its sensitivity and volatility. As a key player in the real estate arena in the Kingdom of Bahrain, we have adapted well to these changes and tailored
our services to fit the need of the hour. If 2020 has taught us anything, it is the virtue of “adaptability”. We have enhanced and improved certain services within our scope, mainly, property management services (PMS) and delivered exceptional results, all thanks to the patience, support and due diligence of our colleagues and associates. We sent regular market updates to our clients to keep them well informed and guided them to make the right real estate decision given the market condition.

Here are some smart, socially-distant and digital friendly steps we started and are continuing while serving our patrons through this crisis:

  • Real-time apartment show-around
    • 3D property uploads
    • Digital promotion of property on social media channels
    • Skype / Zoom meeting set-ups
    • Sharing inventory updates through WhatsApp • Door-to-door documentation processing
    • Deep cleaning & sanitization

The adoption of the above means, led us to believe how ready prospective clients were to accept and take a decision based on the newer technologies being used to convince them to move forward. Again, this is a must for all real-estate professionals as we still face a rollercoaster situation with the Novel virus.

In Bahrain in particular many of the professional real estate agencies are dependent on across the border business transactions. Since the access to visitors and potential investors from the Kingdom of Saudi Arabia is still restricted, digital technologies as mentioned play a key role and must be used to keep the interest of investment ongoing.

I’m sure in our part of the world there’s still much to explore with the technologies available to us and we must look to pursue these with commitment and decide on what works best towards meeting the requirements of our prospects and clients.

This article was published as part of the fifth edition of Property Finder Bahrain’s Trends Report