Real estate agents around the world are finding ways to beat income losses due to the COVID-19 pandemic. One of them is to invest more in marketing to reach foreign buyers, which 22% of Malaysian agents agreed on according to a study by Juwai IQI.
Juwai IQI, a privately held real estate sales and media company noticed that more real estate agents and property developers are turning to online marketing to launch their developments.
The study showed that:
- 31% of Malaysian agents said foreign buyer activity has fallen significantly due to the rapid spread of COVID-19
- 82% of Malaysian agents believe it is a “good” or “very good” time to buy property
- 82% of residential real estate agents (worldwide) said the coronavirus pandemic has cut their 2020 earnings expectations.
- 40% of agents worldwide say foreign buyer activity has fallen significantly.
Investors seem relatively unaffected, with only 10% of agents worldwide reporting that locally-based investor buyers have reduced their activity in the market due to concerns over COVID-19.
Source: The Malaysian Reserve