PropTech Solutions Shares Insights on the Impact of Covid-19 in Real Estate Sector

Carlos Matias, Founder & Managing Director

Over the last 90 days, public-facing real estate websites outside of Canada and the U.S. have experienced a drop in visitors at an average of 20 percent

FREMONT, CA: The rapid spread of the COVID-19 pandemic has had disastrous impacts on all sectors of business. The real estate industry has been severely impacted by this catastrophe as global real estate business experiences significant drops in rates. With customers in over 60 countries speaking over 40 languages, real estate firm PropTech Solutions offers its insights on the situation.

Over the last 90 days, public-facing real estate websites outside of Canada and the U.S. have experienced a drop in visitors at an average of 20 percent. While websites continue to generate property leads, the lead volume has decreased by an average of 48 percent since the start of this year, and by 40 percent in contrast to the same time last year.

PropTech Solutions was named as one of the Top 10 Proptech Solution providers by CIO Applications Europe Magazine for 2019. "Having a common technology platform— being used by many international brands—provides a natural evolution to collaboration in the future. While portals may currently dominate a local market, we have the ability to create true in-country and international collaboration that will be highly attractive to consumers,” says Carlos Matias, Founder and Managing Director of Proptech Solutions.

The total inventory of active listings across all of the company's customers has increased by approximately 15 percent as new listings continue to be added, although at a lower rate, and existing listings stay on the market longer due to a reduction in overall sold and rental listings since consumers lack confidence in the market.

As countries enact measures to restart their economic engines, low-interest record rates will make the prospect of buying properties more attractive. Taking into account the pent up demand this period of suppressed market activity the situation will create, it is very likely to be followed by a period of increased real estate activity once the social distancing restrictions are removed. The work agents do now to optimize and organize their contact databases, reach out to the contacts they haven't spoken to in a while, and make new virtual connections online, will pay dividends down the line.

Sending out Positive Messages

The company's lead-to-close technology offers the ability to assemble comprehensive marketing communications. While customers usually use these to present homes or promote themselves to new clients, they can also use them to communicate with clients and prospects on a different level. People in the buying or selling process today are going to be very concerned about what all this means long term. Help them understand life will go on, and properties will continue to be bought and sold.

Put together a List of Simple things that your Clients can do to Improve their Homes

Maintaining social distancing is the need of the hour, which means people will be spending more time at home than usual. Cleaning, uncluttering, painting, and trying different furniture arrangements are just a few examples of activities that require little or no money and don't need the help of professionals.

Assemble a List of Available Local Professionals

Typical home repair services will be more challenging to arrange, or perhaps impossible in some cases. Collect trusted local service providers, such as plumbers, landscapers, and electricians that are still available and share that information with your network.

Turn Your Marketing Technology into a Community Bulletin Board

Real estate agents know hundreds, sometimes thousands of people. Connect people in your network and communicate local information in ways that no one else can. Not only will you help people in this genuine time of need, but you will also develop relationships that will last long after the crisis.