Never mind that the biggest financial crisis to hit the world in recent years (2008 anyone?) was the result of a bursting of the housing bubble; never mind that land prices are astronomical and that people in developed countries are becoming homeless due to mortgages they cannot pay. The real-estate business is as popular as ever. Hundreds of individuals join the sector in search of careers while the transaction of houses and land only fuels the ever growing industry.
Here is a quick look at why:
Big Pay Day
For those involved in the real estate industry from the inside, meaning those who work in a Bangkok property agency or real estate dealership, there is big money involved. In many countries both the buyer and the seller pay the real estate agent a commission – that’s double the benefit. A smart agent can manipulate the two parties so that both get what they want while also receiving a fat commission for their trouble. Buyers and sellers may feel the pinch as real estate prices go sky rocketing, but agencies keep raking in the profits.
Room for More
Thanks to the never ending demand and the increasing urban migration, there is always room for one more agent hocking a condo to a nouveau riche couple looking to settle down. As people leave stagnant economies and job markets to come to urban centres and settle down in upward mobile communities, houses and land become extremely valuable commodities. These aren’t just about selling; leasing, renting and other financial transactions and packages are also viable options for people looking to find a home. All of this contributes to making the real estate industry one of the most popular nowadays.
Such a Convenience
People are so busy these days making money, they don’t always have time to go look at houses themselves. They may be able to go on inspections, but gone are the days when you trolled the yellow pages looking for adverts. That is why the agencies are now making the dough. They’ve stepped in to ease the transaction between buyer and seller, making everything more convenient for everyone and charging for the privilege. Think about it. Once you charge your agent with finding you a house, you don’t actually wonder how he/she finds it. Similarly, when you are looking to unload the house, all you care about is that the customers brought to view the place can afford it. All the worrying is usually done for you by the industry professionals.Thus, real estate remains a popular industry in many countries despite its rising prices and high competition.