Ways to Profit from Real Estate during Covid-19

Ways to Profit from Real Estate during Covid-19

Covid-19 & Property for Sale in Kenya

With the impact of Covid-19 in the economic sector, many companies have been affected and Real Estate was one of them. The new normal forced a lot of people to work from home, up- to date, and adjustments had to be made for survival of firms.

Real Estate industry is more of an outdoor activity, meaning, meeting up with clients and going to view the property is somehow inevitable. Due to the restrictions, other measures had to be put in place so as business may not be put to a standstill.

Like any other business, creativity had to step in so as the Real Estate sector may continue benefiting even during these uncertain times.

  1. Digitization

Going digital is a very big factor for one to profit in this new normal. Most businesses have embraced the use of internet to market themselves and even work. There is no longer a need for meeting up personally, zoom was introduced and work is sent via email.

Internet has become a key factor. With social media sites, Real Estate companies get to post their property online. This in turn reaches a higher number of clients even diaspora increasing your customer base, in turn increasing sales.

Client contact is minimized and you only get to connect when you are making a site visit to verify the land or closing a sale. This also helps the individual firms showcase their upcoming projects, number of Titles issued, comments from satisfied clients and also location of your offices. At just a click of a button, the client will get to know and understand the company history.

  1. Buyers have a bargaining power

As the saying goes, Customer is always right. This is because it is the customer who makes the business. And also it promotes good ethics between the firm and the customer and sets a standard of excellence.

What we need to understand is that it doesn’t imply doing whatever the client want; it means understanding them and meeting their needs.

In Real Estate, it is always good to be flexible. Give the client cash discounts on every purchase or a good installment plan depending on their need.

  1. Safety First

Cleanliness is next to Godliness. This has always been the word, even more now that Covid-19 came into existence. The customer needs to feel safe at all times hence precautions are necessary while attending to them.

Make sure you provide a sanitizer and a mask on every site visit; this shows them you value and take into account on their safety.

When a client leaves your firm satisfied, they go and spread the word which in turn leads to referrals that end up being clients.

  1. Demand for more affordable properties

Clients are more attracted to affordable property and tend to purchase them more. With the rise of uncertainty in the economy, most people are risking less hence low cost property is what works for them.

  1. Air BnB

Turning your empty apartment(s) into rental(s) or an Air BnB can be a good way of earning some extra cash. This even makes your property useful and brings a constant supply of cash flow.

Covid-19 does not necessarily have to be the end of a business. We can turn loses into lessons and learn something from it.

Are you looking for properties for sale in Nairobi? Well, we as Denver Group Limited are here to offer you prime value added plots which have a ready Title Deed. Speak to us; 0701 730 267, or 0702 202 888.