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Real estate agents urged to diversify portfolio, use digital technology (Edge Prop)

As property and real estate agents in most ASEAN countries are adjusting to the 'new norm' due to the Covid-19 outbreak, there is a firm call that they should continue their profession by diversifying their portfolios and look for new prospective clients that are benefitting from the coronavirus pandemic. 

Secretary-general of ASEAN Real Estate Network Alliance (ARENA) K Soma Sundram said immediate planning should be taken by leveraging the use of technology and digitalisation to make themselves known in the digital world.

"It is important that they start bringing in more value to clients, through enhanced digital training and marketing.

“Associations can also work with partners who are able to support including in financial terms," he said in a collective summary at ARENA's first virtual forum, which he moderated.

The forum titled "Our Lesson Learned" was organised by the Malaysian Institute of Estate Agents (MIEA) and was joined by ARENA's council of presidents including MIEA president Lim Boon Ping.

Other panellists were Institute of Estate Agent (IEA) president Herman Yeo, Cambodian Valuers And Estate Agents Association (CVEA) president Chrek Soknim, Philippine Association of Real Estate Boards Inc (PAREB) president Dr Samuel Lao, Thai Appraisal Foundation and the Agency for Real Estate Affairs (TAEAF) president Dr Sopon Pornchokchai, and Asosiasi Real Estate Broker Indonesia (AREBI) vice president Jaya Cahyadi. 

Soma said expanding networking and exchanging ideas on an online platform are also needed among ASEAN countries to share and help one another in terms of best practices in the field so that agents are able to project or portray a good impression and ideas to buyers without having to meet their clients even after the pandemic period.

"There will be more motivated sellers after this (Covid-19 and Movement Control Order), as investors will be looking at properties that are way below market value, maybe between 10-20%, and will buy if the price is justified.

"So this is the time for agents to interact more with their clients, expand contacts and focus on the things they can, such as acquiring new skills and knowledge, to be better prepared," Soma said.

To read the rest of the article, please use this link: https://www.edgeprop.my/content/1672657/real-estate-agents-urged-diversify-portfolio-use-digital-technology


By Edge Prop | April 17th, 2020

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