Jorge Garcia, Real Estate specialist, analyses recent developments.
Source: Author
Author: Jorge Garcia, Real Estate Specialist
Sun, sea and books
In this dear month of August, we live under the aegis of the blessed trilogy: sun, sea and books. Long-postponed reading of books published by the Portuguese Academy of History, by classic authors of Portuguese and Brazilian literature. And also revisiting the opinion articles published here and in other Media outlets over the past few decades about the real estate market.
A desire to look back at what we have been publishing with the appropriate distance. And perhaps that other trilogy that gives meaning to life will also be completed. We have already planted a tree, we have a daughter, all that is missing is a book.
Our lengthy searches through the archives, most of them in physical format, took us back to the first decade of the 21st century. They brought us back to the challenge of producing training content that met the requirements of the legislation published, Decree-Law No. 211 and Ordinance No. 1326 of 2004, and that could also, within the time constraints of the modules assigned to us by CECOA – Training Centre for Commerce and Related Activities, contribute to training in other supplementary and differentiating skills in the practice of the real estate profession.
To produce content effectively, it is important to know and understand the target audience. In this case, more than a target audience, we had a prospective audience: everyone who wanted to become accredited to carry out real estate brokerage and property acquisition activities.
When re-examining the Manuals produced at the time, some of the key qualifications required of real estate professionals during that first decade remain intact. The technical and commercial skills that can make them successful.
Knowing the market, understanding the dynamics of supply and demand that drive the “asking price”, knowing how to carry out a comparative market analysis, and having knowledge of bank financing, taxation, the legal process involved in a sale, investments, construction defects and energy efficiency, and urban planning.
When it comes to commercial skills, the vast majority of training provision was and continues to focus on this area: prospecting, client qualification, negotiation, objection handling and closing. It is important that newcomers achieve results in the short term.
From real estate brokerage to consultancy
What distinguishes the real estate brokerage of the past from real estate consultancy is the relational, strategic and digital skills that some companies and salespeople still have not incorporated.
They call themselves consultants but continue to behave like salespeople. They continue to present properties with the aim of shortening the sales cycle and closing deals in the short term, without taking into account the building of a long-term relationship with their clients.
We closely follow the professional journeys of successful real estate consultants. Their ability to understand markets, analyse trends and discreetly build relationships that stand the test of time.
Careers devoted to understanding market cycles and investment strategies.
Technology has democratised access to information. A real estate consultant has the ability to turn information into decisions. It is through the combination of data, technology and human relationships that they create value by advising their clients to make better decisions.
Artificial Intelligence in real estate
It remains depressing to see the banality, vulgarity and “clichés” of the Communication and Marketing of some real estate agencies and property sellers when using AI.
Following other brands, KW – Keller Williams Realty has also announced the development of its own Artificial Intelligence (Claude AI + Notion AI), integrated with its business model.
Generally speaking, one should not assume that AI, automation or new software will solve strategic weaknesses.
AI is transforming the real estate sector. Are physical agencies and real estate consultants under threat?
AI may reduce the size of physical premises and the need for some in-person tasks, but it does not eliminate the value created by real estate consultancy.
Technology brings efficiency; consultants bring trust and guidance when making decisions.
A farewell
News also came from the US of the death of Gail Liniger, co-founder of RE/MAX in 1973. She left her mark on several generations of real estate professionals around the world. May she rest in peace.
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