Real Estate Company Manager: Market Isn't Stopping, Work Must Go On
The secondary real estate market continues to function and our turnover has not declined compared to last year, comments ELUM Kinnisvara partner Kristi Djomin on the current situation.
"The situation is complex and making purchase decisions takes time, but interest in acquiring a new home has not disappeared," says Djomin. "While new developments are under pressure, the secondary market is thriving. People are looking at real estate that is financially affordable to them. If necessary, adjustments are made to preferences."
Although second-hand real estate is in focus, this does not mean that sales happen by themselves. "There is a lot of work to be done. It all starts with correct pricing, advertising and proper presentation. Since there is choice, potential buyers look at different properties and if something appeals to them more, they view it multiple times," describes Djomin.
The final price of the offered apartment is also very important. "Nowadays, every seller must take into account that they will receive price offers. Why hide it, there are still high price expectations and if one wants to sell, one must also be flexible in this regard and agree to a selling price that corresponds to today's market conditions. Together with a qualified specialist who is familiar with market information, finding balance is naturally easier," adds Djomin.
The current market presents challenges
According to the head of ELUM Kinnisvara, there is as much work compared to last year and turnover has not declined. However, all ancillary costs have increased significantly during this time. From taxes to everyday office supplies.
"This means there are more challenges. Since we do not want to reduce brokers' income, we are instead focusing on expansion and new sales and marketing approaches," adds Djomin.
Those who emerge as winners from the crisis are flexible and innovative entrepreneurs. "It is wrong to think that only the large survive and all the small disappear. Effective management and adaptability are crucial. There is no point in yearning for the old days. Work must be done! The world is changing and all participants in the real estate market must take this into account," concludes Kristi Djomin.
