LEARNED LESSONS FROM COVID-19

Raneem Al Aradi
Administrative and Training Officer
Jadarah Properties

The real estate market was hit with a hard blow during the pandemic. High-end properties have been deserted, building construction has been delayed, and multi-million-dollar projects have been halted until further notice. None of this could be predicted two years ago. Nonetheless, the sector will flourish in the future, and this is why agencies must be ready for a surge of buyers when the situation settles down.

As COVID-19 strikes its blow across the world and creates shaky markets, there is not one individual or company who can guarantee coming out of this pandemic unscathed.

However, all is not lost in grasping straws to try to hold ground in the market and producing sustainability across regions and countries. It is agreed that most sectors have suffered a great loss in monetary value. But generally, this has created a more supportive environment, wherein other platforms started to rise and technology began to play a significant role in order to promote targeted markets and audiences. Attempting to restore markets to their original flow and maintaining precautionary measures abiding by the guidelines stated by the COVID-19 committee has not been an easy feat. Nonetheless, it has sufficed and given technology a firmer chance to grow and aid the rescue of such things that cannot be achieved through physical and human interaction.

The best way to ensure property does not suffer a loss during the pandemic is to remain a viable and feasible method of supporting end-users with all the required details remotely. As working-fromhome has become a mandate for some companies and corporations, many have adjusted to the fact that it is durable to succeed and sell from home rather than attend work and sell.

Some businesses have adopted this thinking into a long-term scheme, which has simplified the experience for both end-users and businesses. Hopefully, the situation should not remain or escalate to that. As much as it is feasible and lax to hit your targets from the comfort of your bed, sales would be instantaneously more credible and reassuring to the buyer, due to being physically present and playing an active role in the sale. Some buyers might feel discomfort or untrustworthy of meeting with sales people at this unprecedented time in order to view a property, but there are a number of things you should consider to reassure your clients that you are taking safety measures into consideration, which is the route that various companies took in order to continue succeeding and overcoming harsh times during the pandemic.

Even though it is a tough time, and tough times require tough measures, it is still achievable. This might be the rise of digitized property viewings, as technology enforces itself upon those who can take advantage of it for their benefit. But if there is one thing that this pandemic has shown, is that technology and selling property may go hand-in-hand together, after all.

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