WHAT A REAL ESTATE AGENT CAN DO TO SAVE 2020

14-09-2020

Market news

Zalo

We are now into the second half of 2020, and developers are still mostly holding back in launching new projects. With the lack of HOT new launch projects in HCMC, I am worried for all the real estate salespersons focused on HCMC’s real estate market. I hope the primary market will pick up before the end of the year, so we can all earn some income to tie over 2020.

With the continued uncertainty in the global economy due to the persistence of the Covid-19 pandemic overseas, Vietnam is starting to reel under the economic shock waves. As most real estate salespersons are predominantly focused on selling new launch real estate products, this means that both local and foreign real estate investors will adopt a wait and see attitude on new launch prices, to see how developers will react. Speculators have likely already given up on the market, as primary transactions continue to decline.
Real estate agencies are reacting by following developers out of HCMC into the peripheral provinces and vacation homes market. As such real estate salespersons on a base salary have to follow in line to focus on marketing such products to their customers. While it is good to have fresh real estate products to sell and potentially close a number of deals, we must always keep our customers in mind and make sure that they too are able to benefit from their property investment.

Apart from focusing on the primary new launch market that generally attracts property investors, I recommend that all real estate salespersons can adapt to an increasingly tough market by diversifying their customer profile to connect with property buyers that are buying-to-stay. This will of cause mean switching focus to the secondary transaction market and real estate projects that are nearing handover.

Continue to add value to potential buyers with real demand that require our service and advice, and I am sure that as real estate salespersons, you will continue to be able to make a living in these uncertain times. PropNex Vietnam’s real estate agents have since the start of Covid-19 been actively involved in the resale and leasing of apartments in key neighbourhood that have just been handed over to home owners. They will always happy to co-broke with any external real estate salespersons in matching buyers and sellers.

With this, wishing all real estate salespersons good luck for the remainder of 2020, and remember not to give up on the industry. It is always the darkest hour before the sun rises. You are not alone, keep fighting!