What are the Challenges of Real Estate Franchises for 2023?

The real estate market is one of the few economic sectors that has not been too affected by the pandemic and the economic crisis resulting from it. It is well known that this phenomenon, present worldwide for a long time, has been a hindering element in economic recovery.

However, although the real estate stock does not seem to weigh down the consequences of Covid-19, this does not mean that there are no challenges for real estate franchises that they have to face.

In addition to positioning the real estate franchises again in the market so that they occupy their respective place, they also have the task of helping to restore the real estate market itself as much as possible, as the main challenge for 2022.

Real estate franchise challenges

After having overcome the worst moment of the health crisis, it is necessary to consider new means to recover the economic opportunities that were lost.

The real estate sector is one of the few sectors that was able to overcome the crisis due to the pandemic and the economic one, without it being a total loss.

In fact, its return to activity has meant that the purchase and sale of homes has become an increasingly competitive booming exercise, since customers are increasingly demanding in terms of their requirements.

sustainable homes

This is one of the main challenges for real estate franchises. Position sustainable or ecological housing as an alternative to traditional construction .

Increasingly, customers are looking to move from traditional houses to wooden houses or more environmentally friendly solutions. Concepts such as ventilation and energy efficiency are now taken more into account .

Increased market in certain places

Due to the economic crisis, small cities have been more affected, which has caused people to move to large cities or to open spaces far from urban centers.

This creates pressure on the real estate market. A greater search for homes that can meet the particular demand of customers is generated.

Changes in the real estate market in cities

Many real estate projects were put on hold in 2020, but the number of clients waiting for solutions did not decrease.

Contrary to all expectations, there was an increase in consumer demand. In this way, the search for housing in certain areas and with special characteristics increased.

Thus, among the new demand, flats and houses with good ventilation, for example, or with possibilities of expansion in the short term , come to form part . Of all the profiles, these are the most requested by customers.

Changes in home financing

Financial institutions must adapt to the real needs of customers and real estate franchises for their own financing. It is necessary that the management of a credit can be carried out in the shortest possible time , in the same way that the options and methods of payment must be reconsidered.

Imbalance in the real cost of housing

One of the greatest challenges in the real estate market, which can also be extrapolated as a challenge for real estate franchises, is to regain balance in the real cost of housing .

The price of square meters in certain sectors or areas increased disproportionately. This needs to be fixed, both for the benefit of the real estate market and the clients.

Role of real estate franchises

Real estate franchises must stop being just an intermediary and start giving comprehensive advice to the client.

At PRIMER GRUPO Inmobiliarias, we are prepared to respond to all the new needs and aspirations of potential buyers, with a 100% personalized and close treatment.

This includes advice regarding the procedures to be carried out, a complete update on the changes that arise in terms of regulations, requirements and professional profiles for both the purchase and sale of homes.

Less office space

The sale of apartments or spaces to convert them into offices has declined due to the rise of teleworking. Clients seek to invest in properties that can become functional homes and not an exclusive place of work.

2022 a year of opportunities

The positive aspect is that the next one can be a year of opportunities.

The current economic situation must be taken into account, which has led many people to sell properties out of necessity , as well as to understand the existence of buyers who take advantage of these circumstances.

It is estimated that this will make the stage even more dynamic. To take advantage of these opportunities, the real estate franchise sector must take into account the following recommendations:

  • It is necessary to make a good investment in technology and digitization, leading the franchise to be visible on different digital platforms.
  • Knowing how to identify new customer preferences, originating from the change that is being generated at a social level. This includes knowing and advising on the new types of homes and being aware of new concepts, such as smart homes.
  • Make adjustments to purchase prices, taking into account factors such as unemployment, interest rates and access to certain services.
  • Make changes in rental models, emphasizing vacation rentals, due to the turnaround experienced in the tourism sector.
  • Bear in mind that the real estate market, due to its current stability, has become a refuge for investors in times of crisis.
  • Learn to diversify risk, which can be reduced to avoid any crisis situation that arises in the future.
  • Buying a home is not an easy task and generates many doubts and concerns. Therefore, it is important to hire a real estate franchise that has the necessary experience. Because of this, more weight should be given to customer service.
  • In the future, the requirements of customers to buy a new home will increase. Faced with this reality, there must be new projects to offer that meet customer requirements.

The changes that have occurred in society, and within the real estate sector, continue. Currently, the priority of the clients is ventilation, ecology and open spaces.

Every franchise must consider these needs within the new challenges. In the same way, it is convenient to be prepared for the changes that are to come.

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