According to the survey carried out by Idealist to industry professionals across the country, although quarantined, 51 percent of professionals say they have used the confinement period to close operations that were pending. Professionals also opted to receive training during this time, with 47 percent of respondents decided to improve their skills in the face of a future market with greater competition.
Approximately 46 percent of professionals also took advantage of these weeks to update their real estate portfolio and 43 percent carried out customer loyalty tasks. Finally, 17 percent of professionals used the time to list new properties for sale once the confinement period ends.
Although the majority of the real estate agencies maintained the activity, the situation of the industry is considered to be very fragile. Only 7 percent acknowledged having the financial capacity to survive more than 6 months in the current circumstances. On the other hand, 29 percent indicate that they do not have the capacity to last even a month. About 47 percent have the capacity to continue if the situation does not extend more than 2 months, 9 percent would be able to endure up to 4 to 5 months and 7 percent could endure up to 6 months.
The professionals also commented on the prices at which the market will move in the coming months. The greatest consensus is on the perception that sales prices will decrease (71 percent of respondents), while 22 percent believe they will remain the same. No professional foresees price increases.
Regarding the rental market, the majority (66 percent) think that prices will go down, while 26 percent believe that they will remain at the same levels as those that occurred before the pandemic. Surprisingly, 2 percent of respondents believe that prices may rise in the coming months.