State of the real estate business during the pandemic

The last eight months have been a nightmare for investors and business people. The real estate business has also been majorly affected by the pandemic. Over the past years, investments in real estate have been thriving, but has changed since the virus outbreak. Nonetheless, this is not to say that no one is still buying properties depending on the sellers marketing skills. The real estate business has been affected in several ways, but the business owners find ways to navigate the crisis.

Firstly, the demand for housing has reduced; thus, the market is very scarce. With massive unemployment, closure of business, and job cuts, most people have centralized their cash on the current problem they are facing, and very few have the money to buy a house or land with or invest in real estate. With the virus, people have prioritized their needs since land and home are not urgent. Most people are not purchasing them, but entrepreneurs with good negotiation skills still manage to sell the property to people.

Additionally, the virus has brought a change to how people inhabit a place due to social distancing that has been introduced as a way to curb the virus. This distancing has therefore reduced the demand for certain types of spaces, and people are going for areas that will allow the physical distancing as they fear that this might be the new normal.

With the outbreak, most real estate companies either terminated or suspended their projects since people were not allowed to be together in large groups. The physical distancing is not possible in construction sites. Most companies also lack the funds to start new projects since the profits have reduced with the coronavirus.

Nonetheless, real estate developers that manage their companies well, like Shima Katouzian, are not facing this problem. Once the pandemic is over, their businesses, the only difference they will experience is the increased market.

The virus has, however, not affected the prices of land and houses because, despite the pandemic, land, and houses do not lose their attractiveness to buyers. A home could be regarded as a good investment during such times of crisis since people spend most of the time at home.

Most businesses thrive on loans that they invest and then repay them after some time. Some real estate developers have been struggling to pay off their loans since they are not making a lot of money during the pandemic. If loans are not paid on time, this could significantly affect the business since the bank could seize the property that was used as the insurance, and this would negatively impact the company.

During times like this, companies with the best marketing system are the ones that are still managing to sell land and houses, and although the profits cannot be compared to those before the virus, they are still doing better than most companies. Shima Katouzian, a real estate entrepreneur, has groundbreaking marketing skills, and this has, in turn, contributed to her massive success in the industry. Entrepreneurs should incorporate such marketing skills to remain in the market despite the pandemic.

Among the marketing skills, she shifted to posting video walkthroughs of the houses that she is selling @ www.instagram.com/herosheemaz, and www.youtube.com/shimakatouzian, giving buyers a chance to see what they are buying even without physically going to the place. Most of the real estate entrepreneurs that are still thriving in business, even during the pandemic, have shifted their businesses online. The entrepreneurs have opted to do video call communications due to preference for face-to-face communication rather than emailing as their form of communication.

Though many real estate developers have also taken their business online, not all succeed due to lousy customer relationship management. With Shima Katouzian's right customer relationship management, it is becoming easy for her to manage clients and track data, and this works to the advantage of the business.

Creating a personal touch has worked to the advantage of the most successful real estate entrepreneurs. People do not want to feel like they are being forced to buy that piece of land or a house, and they need to first identify with the seller, and then they can buy the property. If a person feels like they are being pushed to buy a property, it is most likely that they will get uncomfortable and fail to purchase. One of the entrepreneurs whose massive success in the real estate has astonished many people, Shima Katouzian, when asked said that the secret was to give the clients time to decide to buy and not pushing them so hard.

She also concluded that it is crucial that companies master good marketing and negotiation skills and also have good management because that is what enables them to make profits during pandemics while other companies are struggling.

Walk home with a smile during this pandemic by getting more strategies from her on www.instagram.com/herosheemaz and www.youtube.com/shimakatouzian.