{"id":32368,"date":"2020-04-07T14:22:01","date_gmt":"2020-04-07T06:22:01","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=32368"},"modified":"2022-06-13T17:24:57","modified_gmt":"2022-06-13T09:24:57","slug":"for-property-agents-ensuring-a-steady-income-during-covid-19","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/for-property-agents-ensuring-a-steady-income-during-covid-19\/","title":{"rendered":"For Property Agents: Ensuring A Steady Income During Covid-19"},"content":{"rendered":"
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The impact of Covid-19 on the entire Real Estate Industry is real<\/em>. With the impending recession, one of the biggest concern would be in ensuring a steady income during this period.<\/p>\n

Property transactions will most definitely fall, but here’s an interesting piece of nugget for you:<\/p>\n

\"99.co<\/p>\n

As a marketplace, we’ve noticed a lower-than-average growth in our ‘for sale’ listings, but still see robust activity happening in our ‘for rent’ listings.<\/p>\n

Introducing Rental, your unlikely iron rice bowl.<\/strong><\/em><\/h2>\n

Yes, you read that right. Perhaps it’s time we ditch our pre-conceived notion of rentals being the less desirable of deals, and start thinking about how you can start getting on this bandwagon. While many property transactions have financial motivations, most rental transactions are motivated by necessity.<\/strong><\/p>\n

Put it another way: If a homebuyer is not able to buy his or her property during this period, there is a high likelihood that they would still have a roof over their head. However, if a tenant is not able to find a property, he or she would most probably end up without a home on the streets, so finding a place to rent is as important as having food to eat.<\/p>\n

But with the lockdown, wouldn’t demand drop as there are less foreigners to rent now?<\/strong><\/em><\/h2>\n

Yes… and no. The drop in demand would only happen as more and more foreigners in Singapore lose their jobs, thereby causing a dip in demand. We have yet to observe a huge spike in unemployment yet<\/em> and on the contrary, we see a momentary increase in demand due to lockdown of our neighbouring country.<\/p>\n

Furthermore, even if demand were to drop, the rental cycle would still exist.<\/strong> People would still need to find new homes after the end of their tenancy, and there would be hardly anything that would hold them back from completing their rental transaction during this period.<\/p>\n

This also means that your likelihood of closing a rental transaction remains high. As long as you’re able to find a tenant looking to rent, your chances of closing this tenant is just as high pre -or post- crisis. You’re much better off investing your time in assisting a client driven by need as it increases your closure rate.<\/p>\n

Furthermore, rentals can be great as you get to collect your commission much faster. This will definitely make the passing days more bearable as we wait for the Covid-19 crisis to pass.<\/p>\n

Convinced yet? Here’s how you can get started.<\/strong><\/em><\/h2>\n

If you have existing rental listings, consider listing them on 99.co<\/a> if you haven\u2019t already. We also do send weekly updates on the most coveted rental spots and tell you where the opportunities are, like this:<\/span><\/p>\n

\"Rental<\/p>\n

Quick Tip:<\/strong> Organically created rental listings are ranked higher on our search pages! Rather than waiting for your listings to get moved over by our Robot AI, consider creating your own listings for maximum results.<\/span><\/p>\n

Additionally, if you\u2019re looking for additional boost to your listings, here\u2019s a quick hack on the best times to refresh your rental listings:<\/span><\/p>\n

\"Rental<\/p>\n

*We took into consideration the traffic in that given hour and also the number of refreshes that was already regularly taking place at that hour.<\/span><\/em><\/p>\n

To read the chart, you just need to know that, the higher the %, the better the timing to refresh your listings.<\/strong> Or if you\u2019re averse to numbers, just spot the very green cells. Red means hours that are the worst to refresh. Yellow means meh<\/em>, and green means they\u2019re the best!\u00a0 If you don\u2019t have time to refresh every day, try our auto-refresh function that refreshes your listings at your preferred time slot every day.\u00a0<\/span><\/p>\n

What if you have existing supply on hand?<\/i><\/strong><\/h2>\n

We\u2019re not saying there are no interested buyers at the moment. There are, so don\u2019t panic! But you\u2019ll most probably need to fight ten times harder to get the attention of these buyers. Other than cleaning up your listings to make sure information is clear and concise, there are other more aggressive methods you can use to get more leads. A quick and low-committal way could be to refresh your listings to get it to rank higher on our search pages. Just <\/strong><\/span>for you, we did a similar Refresh table guide for ‘for sale’ listings:<\/strong><\/p>\n

\"Sale<\/p>\n

If that\u2019s not enough for you, try our Powerpusher tool<\/strong> that allows you to seamlessly set up Google and Facebook ads–all from your 99.co account. It uses the data of people who\u2019ve visited our portal and targets them, great because you can be assured these are your high intent seekers. All these are also done automatically, so all you need to do is to set up a daily budget and your ads will start running.<\/span><\/p>\n

If you\u2019re keen, here\u2019s a quick online guide on how to get started:<\/span><\/p>\n