Are we expecting a lot of re-sell properties or brokerage today? #COVID-19
In times of need, real estate properties are usually sacrificed. They are putting it up for sale with the hope of getting cash or to keep cash on hand in these trying times.
We are not really expecting a lot today but it may probably in the coming days. We have fear-driven sellers who are already expressing their interest in selling their homes for cash to be ready for the uncertain. Some may be forced to sell their properties at a discount just to have that enough cash for survival.
We are also seeing a number of business owners, selling their non-performing real estate like apartments, hotels and the likes to revive their other business.
Do we have buyers even during Pandemic?
One man’s crisis is another’s opportunity. For those who are eager enough there are good deals available in the market. Because of what’s happening to the world today, some sellers may be forced to sell at a huge discount that could even exceed 10 to 20 percent below what their fair market asking price is. It may be a bit a loss for the sellers, but if a buyer buying a home at a discount today is helping to relieve a seller’s financial worries during this unstable time in the world, even if the property sells for less than the seller may have initially hoped, then this can still be a win-win situation.
But not everyone is selling, we have agents who also expressed that some sellers are holding off the sale of their property and have taken it out of the market for now. But despite that, the Philippine real estate market remained afloat for the past 3 decades passing through the first 2 world crises. Our industry and our country are confident that we will still remain on track.
Do we have buyers for these properties today amidst the COVID threat?
Yes, we do. And as a real estate agent, this is the thing that you should be looking for. These people who see opportunities in these bad times. They are the Flippers and the first time home-buyers. To learn more about this, click this link here.
Charmaine Xy-Za Yape is a founding member and a blogger of Filipino Homes. She is also a PRC and HLURB Registered Real Estate Professional and a Licensed Financial and Investment Advisor. She is an International Realtor member. She is a Hubspot certified in Inbound Marketing. She is also the co-founder of Iligan Bloggers Society, Inc.