Problems real estate agents face in Ghana

  • by Inyene
  • 2 years ago
  • Blog
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Real estate agents are the heart and soul of one of the world’s most valuable industries, which is the real estate industry. Real estate agents help with sales, leases, and rentals worldwide. This is because every country has a real estate industry. In Ghana, these agents are intermediaries between landlords and prospective tenants. Working as a real estate agent in Ghana can be lucrative, but there are also several problems real estate agents face that must be addressed.

The reason is that every industry faces difficulties that must be carefully handled. The real estate sector, like every other, is subject to problems that, if not handled appropriately, could have a long-term impact on how the real estate agents perform and its overall performance.

Some of the challenges that real estate agents face in Ghana are:

Unavailability of affordable property prices

Ghana’s population was expected to be 27 million in 2014, with a 2.2% annual growth rate. Ghana will always have a housing need which translates to the unavailability of affordable property prices for real estate agents to sell.

This is one of the biggest problems the real estate sector and agents in Ghana continually face. For many people in Ghana, getting a home that is not just affordable but close to their workplace or school, as the case may be, is an issue. This sometimes makes the real estate agents feel like they need to do more when the problem is from the real estate industry itself.

However, there will always be a high demand for reasonably priced housing options and a limited supply of what is typically referred to as a “reasonable” or “affordable” housing option. Therefore, real estate agents are always looking for ways to find practical answers to the housing issue. This problem must be addressed appropriately if Ghanaians real estate agents are to serve everyone looking for a house well.

Weather-related issues

Real estate agents and homeowners face the challenge posed by weather. Homeowners are constantly bothered by weather-related problems, which are becoming increasingly difficult to predict. These weather issues include floods, which have become rampant. It is up to the real estate agents to become particular about the neighborhood in which a house is located and if they want to sell or lease it to people.

Insuring real estate property and buildings is a significant problem connected to weather problems. This makes it essential for real estate agents to collaborate with insurance providers to identify ways to preserve buildings to withstand weather-related issues. When clients are buying a property you show them, as a real estate agent in Ghana, you should help them contact an insurance company that can insure their home.

Deteriorating infrastructure

A collapse of infrastructure in Ghana has been one of the many problems real estate agents in Ghana have been facing considerably. Everything needs immediate repair or improvement, including bridges, roads, and public transportation. The infrastructure requirements of the businesses can have a significant impact on where they choose to develop or relocate and has affected the real estate market and how real estate agents can make money.

Most business owners have not been affected by this deteriorating infrastructure. But, the residents of particular neighborhoods who already own homes have been impacted by the failing infrastructure. With these deficient infrastructures, potential home buyers are skeptical about buying houses in specific areas, equating to losing resources. Potential homeowners base many of their judgments about purchasing a home on variables like access and transportation. So, with this problem not addressed, the real estate agents and the real estate industry has been suffering in Ghana.

No outstanding real estate digital marketing strategy.

Businesses have seen an effective online presence and digital marketing strategies to increase their clientele and boost sales. The real estate industry is not left out. Unfortunately, some real estate agents in Ghana need help developing an effective digital marketing strategy to bring in the clients and sales they need. It can be difficult for most real estate agents and businesses to run efficient, effective, and measurable digital marketing initiatives. This is because most of them are not tech-savvy, nor have they employed experts to help.

In addition to these, real estate agents have several other issues related to digital marketing that must be combated, such as managing social media campaigns, tracking outcomes, running advertising across numerous platforms like Instagram, Facebook, Twitter, search engines, etc. with digital marketing in place, there has been quite an improvement in how real estate agents get clients and close sales, but the majority of them has still not fully maximized this.

Adapting to cutting-edge technologies

The ability of real estate agents and the real estate industry to keep up with technological advancements is another problem they frequently battle with. It requires using both cutting-edge technology in the real estate sector and intelligent technology in the homes and flats that buyers will be looking for when going for a viewing.

Although virtual tours have been around for a while, they are continually developing, and some real estate agents in Ghana need help to stay updated on these changes. Some buyers want to avoid physically viewing a house when they can do it remotely from anywhere they are. This has brought up virtual tours and listings, which use suitable technology to be effective. So, real estate agents face this issue of adapting, mainly when they have been used to physically walking a potential buyer through a property.

The market is saturated.

Many people identify themselves as a real estate agent in Ghana, which makes the market saturated for real estate agents. So, real estate agents have to make a name for themselves by distinguishing themselves and providing good services before they can be recognized and have an influx of clients they want.

Final thoughts

No doubt, real estate agents encounter many issues, but money can be made if these problems are adequately addressed. So, if you want to get into Ghana’s real estate industry, be prepared to deal with these problems.

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