Warning numbers are arriving every day about the number of people infected with the coronavirus, which promises not so bright prospects for the fall-winter months. The Hungarian economies have also been hit hard by the spring lockdowns, so it is worth planning and rethinking all kinds of business activities by the end of the year, whether companies or individuals.
The Budapest real estate market has brought the spring down „on its feet”, but the same, autumn, economic slowdown can make it very difficult to sell and buy real estate from the point of view of sellers and buyers as well.
„Real estate agents spare me!” – a familiar phrase, an essential part of private advertising on almost all advertising portals. However, on closer inspection, a high percentage of real estate sales are still successful with the help of broker. And the current situation puts professionals even more at the forefront.
An exper agent has great value!
This holds true in all areas of life anyway, but if we take into account the current market trends, the help of expert real estate agents will definitely be even more appreciated. In the current climate, there is a contraction in demand. People who are only on the market for „sightseeing” have disappeared and investors are also buying carefully, on second-third thoughts.
„The supply of real estate properties are still wide and satisfy all needs, as all segments, from lower-priced small apartments to luxury real estate, are constantly found and available in the downtown real estate market in Budapest,” says Ben-Ezra Orran, an expert at Central Home. „At present, however, the larger investor groups have once again found themselves in a state of familiar anticipation (just like in the spring), expecting that the second wave of COVID-19 will have a positive effect on them, which is to reduce downtown real estate prices. With such customer behavior, a sales cycle can be thoroughly extended even if you manage to find a suitable buyer at all.”
The relationship capital and the market knowledge in these times are especially in favor of real estate agents, who are constantly overseeing the market and are in daily and weekly contact with their own or their company’s major investor groups. Nevertheless, the real estate profession is also going through a kind of cleansing process, the so-called „lucky hunters” are starting to disappear and vanish, which is why most of them who are professionals, they are experienced with a stable clientele and they can see realistically the current market situation.
„Of course the involvement of an agent is not required, but it is strongly recommended. It is also advisable not to commit to a company or a real estate agent in the long run, leaving the seller the option to search for a buyer or to involve another specialist,” the expert continues. – „It is also worth keeping in mind that not every inspector is a motivated buyer. The letter of intent proves which specialist brings people who are really interested in the property. Therefore, it is recommended to pay special attention to who we work with during the sales process, especially if there is pressure on the seller who wants to or needs to sell the property as soon as possible.”