The COVID-19 epidemic affects the activities of many real estate agents, but some see an excellent international marketing opportunity, according to a study by Juwai IQI Market Intelligence.
The study showed that 82% of residential real estate agents around the world expect their income to be negatively affected by the coronavirus epidemic.
The share of Australian agents who predict that the negative impact on their income will be "significant" is more than double the share which is expected to be "moderate", at 58% and 27%, respectively.
To solve this problem, agents turned to international marketing. In fact, 18% of agents worldwide said that investing in marketing to foreign buyers was one of their strategies to minimize their losses.
In Australia, 16% of agents plan to use the same strategy.
Read also: Thinking long term is essential in the midst of the COVID-19 epidemic
James Pratt, CEO of the James Pratt Auction Group, said that it is smart to market to foreign buyers, given current market conditions.
"In a situation like this, it is good to be aggressive in expanding your audience. Someone in China, where it overcomes the coronavirus, is going to be more likely to buy than someone here in Australia where we're just going on high alert, "he said.
With the technology available, Pratt said that international marketing is now more accessible.
"On the social media front, I have seen an increase in international media engagement from international subscribers, especially on Instagram," he said.
The study also found that 68% of agents said it was a good time to buy a house.
Pratt said the current state of the market provides the perfect time for buyers and sellers to enter the market.
"Right now, there is a tremendous opportunity for buyers who may not have as much competition for the property as they want. For sellers, the good news is that buyers potentials that arise are more authentic and motivated than usual. "times," he said.
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menai
,
Gladesville
,
homebush
,
tweed heads south
,
Wentworthville
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