Many businesses are feeling the effects of uncertainty created and fuelled by the ongoing pandemic. In one way or another, all sectors have been affected and this is no less true in the housing market (and greater real estate sector). Predictions are changing as quickly as lock down restrictions, and so to say the least it's more difficult to navigate your business through this evolving environment than ever before.
At the moment, the greeted Queensland property market has remained relatively resilient to the effect of the Pandemic, but many predict it could be that the effects of the Pandemic are simply yet to really trickle through. Record low interest rates could see increased lending, and generous government first home buyers grants incentives as well as investors looking for traditional “ bricks and mortar investments” may have buffered some of the negative consequences, but increasingly there is a growing consensus that the real estate market is in for a rough ride.
If you are providing Pre - Purchase building or Pest Inspections, or provide real estate conveyancing and legal services, any effect on national and local property sales can - and almost certainly will - affect your business. We explore some of the ways that you can help protect your business during this downturn.
Whether the economy is booming or taking nosedive, there is never a bad time to be adding additional revenue streams to your business. Indeed, many of the most successful businesses ever created were started during less than optimal times ( think Disney, Microsoft and General Electric )
Sure these are exceptional cases, but the general moral that these success stories tell us that if you are able to make it in the tougher times, than you better prepare to reap the rewards during times of plenty.
Now is not the time to wait for things to blow over.
Reduced demand in the real estate industry means that there will be increased competition to service those housing sales. This means for example, that there will be less first home buyers looking to buy a first home, and so more competition for builders and pest inspectors looking to provide solutions for them.
Increased Cost of Marketing
As more businesses compete for a smaller market there is more competition for advertising space. Whether this is for google adwords or facebook ads, or even more traditional marketing. More suppliers are competing for fewer customers, this means the cost of the acquisition ( insert hyperlink here ) will also increase, as the results go down. This is bad news.
What can be done?
It could be tempted to go into hibernation mode and batten down the hatches. At the same time, others may be telling you to spend and earn it back later from the potential return. You’d be forgiven for thinking that neither option is very alluring?
There is another way.
At PestBuildLegals, this is a conversation that we have had with many providers of Pre-Purchase Inspections and Conveyancing. At PestBuildLegals, we do all the marketing for you. With former real estate agents, and builders within our team, we understand your industry and the challenges and costs of marketing within it.
We provide you with high quality, removal leads for Pest Build or Legal Conveyancing, in the Sunshine Coast, Gold Coast and Queensland. You only pay for the leads that you receive, when you want to receive them. For more information on a high-quality lead please click here.
All information contained on this website is for your reference only. You should always make your own enquiries and seek independent legal advice in respect of any information about real estate law and the purchasing of real estate and related subjects. This website may contain hyperlinks to websites operated by parties other than PestBuildLegals. Such hyperlinks are provided for reference only. PestBuildLegals does not control such websites and is not responsible for their contents.