{"id":60258,"date":"2023-10-24T11:46:39","date_gmt":"2023-10-24T08:46:39","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=60258"},"modified":"2023-10-24T11:46:39","modified_gmt":"2023-10-24T08:46:39","slug":"%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d8%a7%d8%aa","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/60258\/","title":{"rendered":"survey: In the real estate market. \u00abBrokers\u00bb defy the recession"},"content":{"rendered":"

In the real estate market... <\/strong>\u00abBrokers\u00bb Defy the Recession<\/strong><\/span><\/h4>\n

Reconnaissance: Abdullah Alsalih<\/span><\/h4>\n

Real estate agents face a number of challenges in attracting clients, And closing deals<\/a><\/strong><\/span>, during the current period, due to a number of factors, most notably the continued slowdown in the residential sector, which remains subject to the adverse effects of rising interest rates, which have reached their highest levels in more than two decades.<\/p>\n

The real estate newspaper \u00abAmlak\u00bb conducted a survey on the most significant challenges facing real estate brokers and how to overcome them, as follows:<\/p>\n

M. Ahmed Al-Juhani: 4 Factors Behind the Market Slump... and 3 Challenges Facing Brokers<\/strong><\/span><\/p>\n

M. Ahmed Al-Juhani, a real estate agent at Claire Williams, said: \"The trend Real estate market<\/a> Currently, the market is slow compared to previous periods as a result of the current economic conditions, which are attributed to a decline in the number of property listings and inquiries in the market, \u00a0He explained that price fluctuations and instability indicate caution among buyers and sellers at this time; however, this situation is considered normal in the real estate market cycle, and conditions may change over time.<\/p>\n

Al-Juhani explained that rising interest rates make real estate financing more expensive, which makes loans more costly for buyers and reduces their purchasing power. This, combined with a shortage of listings in some markets, increases competition among buyers, which could drive prices even higher. He also highlighted the impact of general economic conditions\u2014both globally and locally\u2014on the real estate market, noting that all these factors combined could lead to a slump in the real estate market, making it less active than in previous periods.<\/p>\n

Al-Juhani pointed out that securing the liquidity needed to close the deal is one of the main obstacles facing the broker, especially since some buyers may rely on mortgage financing, and the broker must focus his efforts on ensuring that sufficient financing is available to complete the transaction, as well as the lack of seriousness on the part of buyers who express interest in the property but do not take action to close the deal.<\/p>\n

He said: \u201cThe issue of agreeing on a commission is one of the challenges facing real estate brokers, as the commission rate must be negotiated with both the seller and the buyer, which can be a source of tension among the parties involved.\u201d.<\/p>\n

He continued: As the person responsible for facilitating sales, a real estate agent must handle these challenges professionally and efficiently, seeking appropriate solutions to ensure the successful completion of the transaction. He emphasized the importance of effectively utilizing social media to publish useful and engaging content, as well as photos and useful information about properties available for sale or rent, which enables the agent to attract the attention of potential clients.<\/p>\n

He highlighted the importance of targeting the right audience on social media platforms and directing ads toward people who might be interested in buying or selling, as well as the importance of responding quickly to customer inquiries and comments on social media platforms, which builds customer trust and increases opportunities for interaction and collaboration.<\/p>\n

M. Abdullah Al-Otaibi: The need for real estate is \u00abconstant\u00bb... and demand \u00abnever stops\u00bb<\/span> <\/strong><\/h4>\n

Mr. Abdullah Al-Otaibi, of \u00abAthman Real Estate,\u00bb explained that the real estate market, by its very nature, does not come to a standstill or is significantly affected by any factors, given people\u2019s need for real estate at all times and in all places. However, one of its sectors\u2014residential, industrial, agricultural, or commercial\u00ab sectors may be slightly affected\u2014either by a decline or an increase\u2014but sales and rentals continue uninterrupted.<\/p>\n

Real estate brokers were urged not to be preoccupied with market activity or stagnation, as that is the role of the economic analyst, whereas the broker\u2019s role is to execute transactions based on client requests, regardless of market conditions\u2014especially since demand for real estate never stops, However, the type of real estate in demand may vary; at times the residential sector is active, at other times the commercial sector, and at still other times the industrial or agricultural sectors, and so on.<\/p>\n

He explained that the most significant challenges facing a real estate agent in completing a sale are the ability to reach the target client, the need for the market price to be close to the target price of the property, the ability to enter into brokerage contracts with owners and buyers, and the practice of real estate brokerage by unlicensed individuals.<\/p>\n

Mr. Al-Otaibi outlined the steps real estate agents can take to increase their productivity, including building strong relationships, attending real estate events, and maintaining a presence on social media, as well as staying informed about regulations and specializing in various real estate activities and sectors.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>In the Real Estate Market\u2026 \u00abBrokers\u00bb Defy the Slump Survey: Abdullah Al-Salih Real estate brokers are facing a number of challenges in attracting clients and closing deals during the current period, due to several factors, most notably the ongoing slowdown in the residential sector, which continues to be adversely affected by rising interest rates that have reached their highest levels in more than two decades. The real estate newspaper \u00abAmlak\u00bb conducted \u2026 Read more<\/a><\/p>","protected":false},"author":10,"featured_media":60259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[100],"tags":[],"class_list":["post-60258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-residential"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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