How to Make an Effective Real Estate Prospecting?
Prospecting is the study of the future possibilities of a business taking into account the data available. Through this process, the real estate consultant converts his portfolio of contacts into money; although it is not always easy to achieve it, not using this tool diminishes the opportunity to talk to clients who have never been canvassed before, nor to recommend appropriate solutions for their needs, to sign a contract or to offer an excellent after-sales service. Paul Goldner points out in his book Red Hot, Cold Call Selling that a salesperson must put all five senses into knowing all the information about his buyers. “He has to study every file until he knows how to associate a person’s name with the name of the company to which he belongs. Many salespeople get stuck when they get a call from a prospect they’ve already spoken to because they didn’t memorize the information about that person when they first made contact with them.“ Goldner also says that understanding sales as a process rather than an event makes it easier to assume that “the no’s of today’s customers may be the yes’s of the future. Accordingly, a rejection should never be viewed as a refusal, but rather as extra information about a particular prospect that allows the salesperson to postpone that sale and then redirect his or her education process to those prospects who are ready and willing to buy now.“ In this regard, real estate coach Carlos Perez describes in his blog that every advisor should focus on helping and not just selling, offering advice through effective communication channels adapted to the lifestyle of buyers. On his website he exemplifies the implementation of this sales technique by sharing his experience with a Uruguayan real estate company that decided to write specialized articles for local newspapers and magazines, accompanied by a digital campaign in social networks, forums, related websites and the payment of advertising or Ads. 10 Commandments of Real Estate Prospecting 1st commandment: Prospecting is a process that requires discipline and demands dedication, so it is suggested to set a daily time for prospecting. 2nd commandment: Smart prospecting leads to calling only those prospects most likely to purchase large quantities of your product or service. 3rd commandment: The prospecting call should not last more than two or three minutes: it should include the presentation of the seller or product; it should serve to understand the real needs of the potential buyer and it should become the vehicle to get an appointment. 4th commandment: Identify the main customers and potential customers in your database and look for alternatives to continue capturing effective leads. 5th commandment: It is advisable not to take calls or attend meetings during the time of prospecting in order to try to perfect it as much as possible. Just like any other repetitive task, prospecting improves with prolonged practice. 6th commandment: There are more or less convenient times to make prospecting calls. For example, prospecting at lunchtime works well in the U.S., but not in Latin America, where people have long, traditional lunches. As for individuals, some are more receptive in the morning and others in the afternoon. In general, decision-makers often work overtime or after hours, plus their assistants, or those who separate a salesperson from his or her potential customer, don’t usually get in the way of those hours: hence, they should be fully utilized. 7th commandment: If it is not possible to contact a potential customer at a certain time of the day, a salesperson should learn from the mistake and try another time or another occasion. 8th commandment: Be organized and use some type of contact management software such as ACT or CRM to schedule calls or check the customer’s status. 9th commandment: You must think that the call will be successful before you make it and thus reinforce your self-confidence. Remember that prospecting is more resistant to rejection if the salesperson shows poise and that both confidence and enthusiasm are contagious and a buyer will always go for the individual who conveys them. 10th command: An essential element that adds value to a product or service is the stability of the company that sells it. When a customer buys a complex and expensive product from a certain company, it is in the customer’s interest that the organization survives for the life of the product in order to have the guarantee of after-sales service. 5 Techniques to capture more contacts Miriam Moral shares in an article for Urbaniza Interactiva a series of tips or tools that every real estate consultant should follow to increase the database of their contacts: – Use Inbound Marketing to your advantage. Think about your clients (Buyer Personas), reflect on their problems, needs, goals or objectives and create content on your website or on your real estate blog in which you give answers to those topics in different formats such as videos, infographics, live conferences, books or downloadable guides. – Don’t forget the power of word of mouth. Imagine that you have already managed to attract to your real estate website those people who are considering buying a home. However, they are still not entirely convinced that your real estate is the best choice. A page of testimonials from other customers explaining their buying experience, can be that little push they are missing to verify that your real estate is the best choice for them. – Add real estate portals to your channels of diffusion. These can provide you with a large number of contacts that in the short term can be very interesting. However, the contact acquisition will end once you stop paying for the contracted services, so you will also have to think about a long-term profitable strategy. On the other hand, the data obtained will not be exclusive, that is to say, they will be almost the same as those of your competitors. – Invest wisely in Online Advertising. One of the advantages of this type of advertising is
Luxury Real Estate: A World for the Uhnwi Sector
The luxury housing market is special, both in terms of the target and the expenditure it represents, but the concept of luxury has changed over the years, although some ideas have remained the same. For example, space or square footage is still a hallmark and green space is essential. Also important is security and the neighbors with whom the area where the property is located is shared. Without forgetting that in recent years new ideas such as energy efficiency or environmental awareness have been introduced. The reason is that the decision to buy a property of this type is based on lifestyle or investment objectives, rather than necessity. Despite the fact that these types of properties are approximately 3.4 times more expensive than average homes globally, according to the Luxury Defined 2018 report, selling them is much easier; the reason is that unlike average properties, whose costs are accessible to a larger number of people, clients in the super-luxury category are not very specific and, above all, do not have financing problems. Normally the investments of this type of properties are usually awarded to the economic stratum called UHNWI Ultra-High Net-Worth Individuals or better known as the Ultra Rich. According to the consulting firm Wealth-X, this group includes individuals with a wealth in financial assets between US $1 million and US $30 million, considering variables such as wealth levels of the country, population growth and investment opportunities in the future. According to a study prepared by global consulting firm Knight Frank at the end of 2018, among 600 wealth advisors managing more than $3 billion globally, indicates that “23% of Latin American investors consider investing in a luxury residential property in their home country between 2019 and 2020.“ While “57% of Latin American investors already own properties in their asset portfolio“, because this type of business provides protection against inflation, as well as the appreciation of the property in the long term. In this regard, Constanza Maya, a real estate specialist, assures that the current trend in this market “is a relaxed and more minimalist luxury, linked to materials, spaces and design. Technology also goes hand in hand with this change by introducing home automation and Artificial Intelligence to the formula. The times of gilding, opulence and the obvious are behind us“. How to sell luxury properties? The right price for the right house This is achieved through an appraisal or opinion of value in which the characteristics of the residence such as age, state of preservation, type of materials, design and location, among other aspects, are weighted. The idea is to take this appraisal as a price reference and qualify it with the information you have about your property to achieve the right value for money. Make the images speak for themselvesIt is suggested to hire a team of professionals in the audiovisual area to tell a story through quality images; these should show the essence of each space, the innovation of its structure and be accompanied by historical data or curiosities of the property or the geographical location in which they are located. Choose the most appropriate media according to the lifestyle of your buyersThe success of the sale lies in studying the target market, understanding their needs, habits and lifestyle, and putting together a well-structured marketing plan. This type of customer, beyond the transaction, is looking for a shopping experience. Do not abuse of digital toolsIt is important not to publish in several real estate portals or work with several real estate brokers; this could make potential buyers lose interest when they notice that the property loses its exclusive character and may generate distrust. Once your ad is published, be constant in your communication in the digital channels, but keep doing exclusive events to the property, inviting the media and potential buyers. Don’t forget about word-of-mouth advertisingIn the upper echelons it is important to market through close contacts and inform neighbors that the property will be on the market; these people may surely have friends or family members who are interested in moving to the area. Hold a small event at the property so that they have an exclusive viewing opportunity to meet potential buyers long before the property goes on the market. This can help you significantly reduce the property’s days on the market, increasing its visibility long before you have to post an ad. Which are the best cities to buy luxury properties? The exclusive home company Barnes has prepared a report with the cities with the best projection to invest in luxury homes. In order to elaborate the ranking, the interest of buyers and investors in high-end properties is measured. The report is dominated by European cities such as Lisbon, followed by Porto, Madrid, London, Genoa, Greece, Monaco and Biarritz. Only two cities in the Americas are part of the exclusive list, Miami and Montreal. Luxury also takes over vacations or business trips According to Forbes Mexico, “lodgings with a minimum value per night of $1,000 grew 60%. The strength of the luxury segment“. In fact, analysts estimate that this travel category has reached a value of $200 billion and will continue to grow in the coming years. In response to these trends, the Airbnb Luxe travel platform offers access to exclusive properties in 70 destinations around the world under the supervision of travel designers who provide in-depth destination knowledge, comprehensive planning, concierge services and VIP assistance every day of the week.
Mindfulhome: Spaces for Relaxation and Concentration
Mindfulness is translated as “full attention or full consciousness“, a term created by the New Yorker Jon Kabat-Zinn in the eighties and inspired by Buddhist meditation techniques adapted and updated to the Western mentality. This practice transcends people and reaches the interior design as a spiritual aspect from which the Mindfulhome concept was born. Under this perspective, spaces are conceived to be lived, not to impress; encouraging introspection through different elements: from the architectural composition, with fewer physical and visual divisions, to the decoration, thought as the indispensable elements that make us inhabit that environment in harmony. Balance and inspiration 2.0 People who want a home adapted to this philosophy are increasingly seeking inspiration on the Internet by resorting to social networks like Pinterest, which has experienced an increase of “248% in pins saved related to Mindfulness at home“, according to a recent publication of the magazine hola.com Another have consulted information on blogs or specialized websites such as Elephant Zen , Mindfulness for Women , The Mind Republic and MindFul Kids, among others. Open the doors and windows to tranquility Craig Hassed, author of the book The Mindful Home in an interview for AD Architectural Digest magazine explains that “a Mindfulness home is one that helps you feel mindful when you are in it. That is, connected, awake, confident and at peace with yourself, the people you live with and your surroundings. It nourishes you, interests you and engages you. It feeds your senses without overwhelming them, and doesn’t distract you from being present in the now.“ The expert affirms that any home can be transformed into a more favorable space to achieve that peace we long for, simply by “taking some time and taking care to look at it, connecting with the environment and making the changes that are possible to improve it“. Among some of the recommendations provided by these specialists are: – The space as a whole: open spaces or spaces without distractions take precedence, based on a minimalist style that helps us to stay with the essentials. Natural light, soft and dim, should be the protagonist. – Colors and textures: earth tones such as ocher and soft colors will be a priority in the chromatic palette. We leave out the stridencies and seek to connect with the environment through touch, for which we enter the third point. – Natural materials: natural fabrics, plants and unsweetened materials such as wood, clay or stone will help to reinforce the habitat, making it part of a whole. – Escape from time: spaces should facilitate introspection, for which we will eliminate clocks from places where they are not necessary, for example in the kitchen. This will encourage leisurely activities. – Technological disconnection: although home automation and gadgets are initially designed to make our lives easier, sometimes this hyperconnectivity can lead us to be unable to find calm. It is recommended to have the minimum technological environments and that these are focused on specific places. – Surround yourself with important things: a place that you want to feel special can be filled with objects that tell you stories. Plants, photos, pictures, bells, water fountains, sculptures or religious images if appropriate, can help you create the environment you are looking for.
How Interior Decoration Influences Property Sales
Although the selling price of a property is still one of the most determining factors, there are other elements that also play a role in the decisions of the future buyer or tenant. Such is the case of the originality and character conveyed by the spaces not only by the layout of the structure, but also by the decoration they present. From this perspective, several techniques have been developed that seek to mix interior design with architecture, marketing and psychology to emotionally influence the consumer’s mind. All based on the fact that we do not only buy a product or service… we buy the experience it generates, sensations and emotions that remain in our memories. Home Staging: Spaces to fall in love with They are a series of techniques originating in the United States that seek to take care of the aesthetic presentation of a home, commercial space or office to make them more attractive and thus sell or rent them faster. This type of practice does not require major transformations or remodeling of spaces, but uses simple changes in furniture, space organization, decoration and presentation of spaces. Statistics show that houses that have undergone a home staging process are sold faster. In this regard, the Ovacen portal points out that it has been proven that “the potential buyer decides to purchase a property in the first ninety seconds or a minute and a half“. To stand out among the various offers available on the market, the help of a professional or home stager is often required, because “only 10% of potential buyers can visualize the potential of your home, so this is another reason why this technique is becoming essential“, according to the International Association of Home Staging Professionals. How to apply Home Staging in your premises or home? The first step is to know the profile of the future buyer, his needs, lifestyle and opinions of other properties with similar characteristics; all these data will allow the adoption of a depersonalized style capable of attracting looks, generating feelings and becoming a successful sale. In fact, some specialists in the real estate market consider that, in order to sell a property, the best way is to combine neutrality with the personality of the space. It is not so much a matter of giving a personal touch to the rooms but of achieving an environment in which any of the potential buyers will feel comfortable, as if they were at home. The client must be able to imagine the real dimensions of the rooms so that he can clearly visualize the usefulness of the spaces. Most people are unable to imagine a possible layout without furniture. Specialized websites recommend “renewing the air at least 10 minutes before guests arrive, especially in the rooms. You can also use soft air fresheners or other aromas that awaken the memory of good memories such as freshly baked bread or hot coffee“. Also, create large spaces, with neutral colors and adequate lighting, as well as avoiding personal objects such as family photographs or recognitions. Above all, repair any damage and maintain order, for this “symmetrical arrangements usually work well and give a sense of order. In addition, it is always interesting to create a cozy and relaxing area where the future buyer can see himself sitting in a relaxed way“, this is how Inmogesco.com describes it. Noriega Group bets on Home Staging In our recent project called KASA we have established a strategic alliance with the Sánchez + Coleman brand to create spaces full of graphic sensibility with an extra dose of humor. This residential complex combines advanced design techniques and aesthetics of Christopher Coleman and Angel Sanchez, as well as the style, quality and experience of Noriega Group, providing investors with elegant, modern common areas with a great sense of usability.
Acquire your First Home in the Dominican Republic with the Trust Law
Law No. 189-11 on the Development of the Mortgage and Trust Market has been in force for eight years and has created a unified legal framework to promote the development of the mortgage and securities market in the Dominican Republic. So far it has allowed companies in the Real Estate sector to develop an autonomous, separate and independent patrimony of their assets. At the same time it offers facilities to Dominicans looking to build and acquire a home for the first time at a low cost. The main objective of this regulation is to promote the creation or strengthening of legal entities that fairly regulate the Dominican mortgage market in order to develop a culture of voluntary or mandatory savings for long-term financing of housing and construction in the country in general. What is a Fidecomiso? Article 3 of Law No. 189-11 defines a Fidecomiso as: “The act by which one or more persons, called Settlors, transfer property rights or other real or personal rights, to one or more legal persons, called Trustees, for the constitution of a separate estate, called Trust estate, whose administration or exercise of the Trust shall be carried out by the Trustee or Trustees according to the instructions of the Settlor or Settlors, in favor of one or several persons, called Trustees or Beneficiaries, with the obligation to return them upon the extinction of said act, to the person designated therein or in accordance with the law“. In other words, under this regulation there are three figures that fulfill relevant functions in the development of the process: – Trustee. These are the persons in charge of transferring assets or rights to create a separate estate. – Fiduciary. This is usually the financial entity that receives the assets and works for the administration of the assets. – Beneficiary. The individual or legal entity that receives the benefits of the trust. The advantages or benefits of this regulatory framework include: – Agility, flexibility and speed. – Lower incorporation and execution costs. – Maximizes collateral utilization. – The same assets can guarantee future operations without the need to re-establish a trust. – Trust rights may be negotiable. Now that you know in general terms the Law Nº 189-11 and the participants of this legal process, it is time to know the main steps to agree the enjoyment of this benefit and acquire a construction project in the Dominican Republic. How to apply the Trust Law in a Dominican construction project? In our country it applies to construction projects with homes with a value of up to 2 million 400 thousand pesos. To do so, you must approach a project under construction in the Dominican Republic that is being carried out through the trust. You can consult our available housing options developed under this modality in our web page Noriega Group. Subsequently, it must be ensured that the project is recognized as low-cost housing by the National Housing Institute (INVI). Demonstrate that as an applicant for this benefit, he/she is not the owner of another property. Empower the trustee to reserve the amount to be granted by the Dominican State. You can learn more about the requirements to qualify for the benefits of the Trust Law by reading Rule 01-15. Benefits of the Trust for the Dominican Financial Sector In a document published by the Association of Commercial Banks of the Dominican Republic (ABA), it is stated that the entities of the financial system will be able to offer their clients all the trust modalities introduced by Law No. 189-11; adding that “the transfer of credits to the trust will allow financial entities to obtain a new source of funding, stimulating long-term credit. In addition, they will be able to choose which instruments and risks they wish to keep on their balance sheets and which they do not, allowing them to be distributed through the market“.
Influence of Bleisure, Blurring and Workventure in Real Estate
Bleisure, Blurring and Workventure are three concepts on the rise for professionals who are spending more and more time away from home for business travel, blurring the boundaries between the professional and the personal. Bleisure comes from the English “business with leisure” and refers to the premium urban tourist who combines a business trip with one or two extra days of leisure in the destination. Blurring is a term linked to the verb “to blur“, referring to the trend of blurring the boundaries between the personal and the professional using technological devices. To these is added the concept of Workventure, differentiated by the degree of adventure and physical exercise. The worker who is travelling wants to dedicate those extra days to live a little adventure and enjoy more active tourism instead of shopping or relaxing by the pool. Who practices Bleisure, Blurring or Workventure? According to the Brain Trust barometer, “men tend to stay longer than women“. While “those groups that most often combine leisure and business are the over-55s and the under-35s“. The latter are the Millennials, a demographic and sociological profile that loves new experiences. So much so that many say they are willing to give up part of their salary in exchange for flexible working hours and opportunities to travel. The same study indicates that “men tend to travel with work colleagues and women with their families. However, the preference for this type of trip is to travel alone or with a partner“. The more distant the destination, the more likely it is that the professional traveller will decide to take advantage of the trip to go sightseeing. A great opportunity for the real estate and tourism sector An article in Meet In magazine states that the three trends represent the evolution of tourism that is reflected in the adaptations made by some hotels or condominiums where “the line between business and leisure stays has become blurred, as the professional traveller expects to complement his work with gastronomic, wellness or sport experiences, some social interaction with the city’s residents and, of course, knowledge of the destination“. According to The Bleisure Report 2014 study by BridgeStreet Global Hospitality, “30% of global travel is for business purposes. Well, 6 out of 10 business travellers spend 10 or more days a year away from home, including 2 out of 10 who sleep away from home for work for more than two months of the year… The potential is huge“. How does this benefit the owners of these properties? Acquiring a property and using it in this way is a sure and effective way for investors to recoup their investment or generate long-term income. By being the one who manages the rental logistics of that space, you have total control over the quotas that are established and can be changed according to the seasons. This type of rental generates more income than renting monthly to a tenant.
Circular Economy: The New Era of Real Estate
“Leading companies have already discovered that a commitment to sustainability can help attract and retain talent, drive shareholder value, as well as property value” Bob Mejor, Executive Vice President of Energy and Sustainability at JLL The Circular Economy concept idealizes keeping products and materials at their maximum shelf life. This is followed by reuse, re-manufacturing and recycling for the manufacture of new products. This economic model directly attacks the problems of excessive accumulation of waste on the planet, as well as the exploitation of virgin natural resources. The incorporation of the Circular Economy in the manufacturing processes of products is carried out from the design process: starting with the selection of raw materials, their origin, the quantification of the useful life of the product and the way in which it can be reinserted in a new process chain to obtain another new product. According to an article on the website Disruptivo TV “between 10 and 15% of construction material is wasted and 54% of the materials that are demolished end up in landfills“. In addition to these alarming figures, there is also the study entitled: The Circular Economy in the Built Environment , prepared by the international firm ARUP, which shows that the construction industry represents the largest consumer of raw materials worldwide, “constituting half of steel production and consuming more than 3 billion tons of raw materials“. How to apply the Circular Economy in the Real Estate Sector? The company Inmobiliare reviews in its blog that the Circular Economy is not only a task for large construction companies, but also requires “the commitment and participation of all the actors involved in a real estate project“. In this regard, The British body Construction Leadership Council provides recommendations on how the various participants can contribute to a circular economy. Some of these are: Designers Identify the useful time of the space by efficiently selecting the amount of material, betting on less waste and higher levels of reuse in the following lives of the building.Incorporate the greatest possible use of reused and recycled products in construction. Product Manufacturers Providing ingredient descriptions of building materials will provide greater certainty in purchasing.Share valuable information on how the user can reuse the product after its useful life. Reducing packaging and integrating recycled content provides environmental benefits across a different supply chain. Contractors Selecting suppliers committed to sustainability. Those offering materials with reused components, high recycled content or take-back schemes will constitute the first choice of contractors committed to a circular economy.Seek to eliminate waste during construction, occupancy and end-of-life of the building. Customer It is necessary to establish a minimum design life for the different elements of a building, serving as a guide for the correct execution of the project.When starting a project, it is preferable to restore an existing space rather than demolition and construction of a new building to reduce waste and material consumption.Finally, being the Circular Economy a new integrative model for the construction industry, it requires users who are open to the idea and willing to try innovative approaches within their projects.
The #Girlpower Triumphs Within the Real Estate Sector
For decades, real estate was considered a man’s world; so much so that by the 1980s it was unthinkable for a woman to even buy real estate without a male co-signer. The gender’s formal foray was in 1910 when the first female agent joined the National Association of Realtors (NAR). Today, many female professionals lead the industry in several countries thanks to their high level of empathy and persistence, which leads to a higher rate of customer satisfaction and sales actually completed. While many careers require women to choose between long working hours or to devote time to loved ones, Real Estate shows a flexibility and independence that allows them to do both comfortably without sacrificing their independence, time or stability. However, Real Estate shows a flexibility and independence that allows them to accomplish both goals comfortably without sacrificing their independence, time or stability; all they need is a phone and a laptop, especially a desire to be entrepreneurial and help others accomplish their goals. Togetherness is #GirlPower Real Estate Meanwhile, in the Spanish-speaking market, there are still some avant-garde proposals such as the non-profit organisation Wires, an acronym for Women In Real Estate or Mujeres en el Mercado Inmobiliario, which serves as a platform and meeting point to improve or promote the professional role of women in this business. They also have a mentoring programme where Wires members share their knowledge and experience with women in the sector who have potential but are not yet in management positions or have not yet developed their entrepreneurship to 100%. In the Dominican Republic there is a club called Mujeres Inmobiliarias (Real Estate Women) which has established a cooperation network focused on providing the necessary advice and tools for the personal and professional growth of its members. It also participates in activities or campaigns of Social Responsibility with some institutions or foundations in the Caribbean island. The search for professional recognition of women in Real Estate is also the goal of AMPSI, the Association of Professional Women in Real Estate. Since its foundation in 2013, this association has achieved a presence in 11 communities. Columnist Nidhi Sancheti notes in her article for Entrepreneur magazine, women outnumber men by 50 per cent in real estate, bringing a whole new dimension to the traditionally male-dominated sector. Sancheti also points out that there are cases where some executives have quit their corporate jobs to join their wives’ real estate ventures. For example, “Kim Howard, recognising her passion for sales, tapped into her entrepreneurial spirit to found her own real estate firm Howard Homes Chicago, and it wasn’t long before she recruited an important employee for her business: her husband”. There’s still some ground to conquer in heels A special report published in the Real Estate Community shows that although the ground gained by women in the Real Estate sector is important, there are still objectives to be achieved. This is what Alejandra Covello, one of the leading real estate agents in the Argentinean market, says, who considers that the pending challenges “have to do with the evolution towards the professionalisation of this career – although we are already on that path – and in the valuation of women for executive or managerial positions, without this implying the resignation of the feminine. It has to be something natural and to be achieved through evolution so that in time we no longer have to talk about these issues“. While real estate agent Dina Crusizio says that the goals are the same as in other businesses: “professionalisation, ongoing training and the incorporation of new technologies, in this sense there are no differences with men. It seems to me that this is a sector that does not discriminate or differentiate, where women have the same place as men. I don’t think there are more challenges in this sector than in others. We have to continue to gain ground, but I think the sector has room for women“. In the United States, approximately 3 million households are supported by Latinas, who in some states earn up to 61 cents less for every dollar earned by men, a reality that reflects the wage gap in the country and that 37% of Americans are unaware of. “It’s not just equal pay, Latinas have a worse experience in the workplace, are promoted more slowly, face more barriers to advancement and get less support“, these are some of the conclusions of the study Beyond Wages: Effects of the Latina Wage Gap, released on Wednesday and made by the organisations LeanIn.Org.
Wellness, Domotics and Ecolife…Accommodation Trends for Young People
Accommodation services are adapting to the new generations, who have become eternal seekers of ideas or experiences that allow them to live and travel with a purpose where the luxury is no longer the spaces, but what can be done in them. This is confirmed by new research from FutureBrand Speck, which interviewed 250 travellers to better understand how to attract and retain guests; the results were very different for different generations. According to the Tecno Hotel website, young people are willing to pay for technology and wellness or general wellness services when they are well integrated into their hotel experience. They also appreciate fitness and wellness offerings during their stay more than older generations; in fact, “they prefer them 1.5 times more than guests aged 40-55 and 2 times more than those aged 56 and older“. In addition, they want the same experiences in the hotel that technology allows them to have at home. “67% ask for the same video streaming services, while 52% crave Smart TVs in the hotel room so they can connect to their Netflix or HBO accounts.” Travel and tourism journalist Marta Sader wrote a report on the requirements of Millennials for Traveler magazine that any hotel, no matter its style, should offer this generation of travellers a fast and stable internet connection, as well as a good amount of plugs and USB ports strategically placed for the comfort of guests without losing the decorative style. “Why not a Smart TV in every room, so we can watch Netflix on a screen designed for watching movies rather than on our mobile? What about a hotel app that tells you what you can do in the city each day and allows you to book a spa appointment… or buy tickets for a show? What about a staff that uses social media as a form of communication, not just window dressing?“ Despite the fact that this addiction to technology is not the healthiest thing to do, for young people, green programmes or initiatives are very important; in fact, Sader points out that “we also ask to be served local products whenever possible, and even better if they come from crops that respect both the environment and their inhabitants. All of this ultimately results in healthier menus, made with real ingredients“. Above all, Millenials look for an escape valve from routine, a source of inspiration and self-knowledge in every trip, “we travel to live experiences that are tattooed in our minds and stay with us until the end. That’s why we don’t ask a hotel to be just a place to sleep: we ask it to be a place to dream. A space that allows us to experience what is impossible on a day-to-day basis“, says this globetrotter in her writing, ending with the reflection that accommodation should “inspire us to be better, happier, and that it accommodates our loved ones so that we can share our discovery (pets yes, thank you). It should be a before and after in the way we live and see the world“. Every loan starts with filling out an application to a banking institution, which will carefully review your data, including your credit history, the constituent documents of your company, the amount requested and the guarantees you offer. Based on the information gathered, they will decide whether or not to approve you. Millennial hotels around the world Daniel Hotel (Viena) It’s young, stylish, affordable and has polished concrete spaces, with art pieces here and there. The Daniel is classy, hipster and urban-spirited with staff who know all about Vienna’s nightlife. Urban Cowboy (Nashville, Estados Unidos) Like a modern western, this cottage is full of wood, taxidermy, Navajo prints and the shabby walls that any Instagramer is looking for. ACE Hotels ACE Hotels, in the United States and Panama, pioneered the Millennial vibe a few years ago. Back then, they saw the potential of untreated wooden tables, retro chic, non-stop WiFi and personalised rooms. Today they are still hype in cities like New Orleans, Pittsburgh, LA, London, Palm Springs, New York, Portland, Seattle and Panama. Ushuaia Beach (Ibiza, Islas Baleares) “For compulsive instagrammers. For those who wake up in a bed that is not their own and for those who continue sleeping until late in the afternoon. For exhibitionists. For provocateurs”. It’s quite a statement of intent at the Ushuaia, with details such as Xbox in every room, touchscreen restaurant tables, Facebook sharing technology using just your fingerprint and a list of concerts and parties that will make you cry… with joy. City Hub (Amsterdam, Países Bajos) It has a reception and a digital bar, as well as an app with which you can get to know the city or contact the rest of the hotel guests using the brand’s own chat. Renaissance New York Midtown (Nueva York, Estados Unidos) The interior is filled with screens, motion detectors, projectors and 3D cameras, so that the walls appear to be “alive” reflecting images of local artists’ work or information about the hotel and the area. There is, of course, no receptionist. Moxy Hotels It is the Millennial brand of the Marriotts, and their lifts are full of all kinds of accessories to take a photo. In this way, they fulfil two of the objectives of this social group: not wasting time and broadcasting their existence in real time.
Benefits of Investing in Post-Pandemic real estate
If you are looking to protect your savings in a safe way, a real estate property will always be the best option, considering that it is a material asset that in most cases does not suffer a significant drop in the value determined at the time of purchase, and it is even viable that over time its value will increase, taking into account its price and location. From a general overview, the covid-19 pandemic has caused disruptions in many aspects of society, mainly in health and economics, where many countries have taken measures to cope with the damage caused by the pandemic. The situation was so drastic that it caused the devaluation of several currencies, a fall in the price of oil, many businesses closed or with a decrease in sales, a fall in the demand for investments, among other extremely negative aspects, which makes us think intelligently, and look for something safe to invest in, and without a doubt the safe bet is real estate investment. It is said that a real estate property is one of the most solid assets to make an investment, mainly based on its location, the value it had in its construction, its commercial value and of course its profitability. Points to Consider At the time when the pandemic started, there was a drastic decrease in the number of properties for sale, but even so, under the crisis control measures, supply increased and the real estate sector was forced not only to reactivate itself but also to renew itself in order to adjust to the needs of the market, where the following aspects were considered: The basis of every investment is fixed in personal finances, it is important to establish the indicators that determine whether it is the right time to buy a property. Price Reduction One of the immediate effects was the increase in real estate supply, in terms of lower prices, which can be beneficial to start investing. The adaptability of the spaces contributed significantly to the reduction of prices, even so, it is estimated that prices did not decrease, but were maintained, and it is estimated that this process will continue until the end of the second half of 2021. Interest Rate Reduction The pandemic has led to lower interest rates on mortgage loans, and although this process has made banks more restrictive in the loan approval process, it is important to consider that, in the medium term, interest rates do not seem likely to rise, which may be a good factor to invest in. Good Negotiation Another important aspect is the ability to negotiate, due to the increase in supply, the negotiation of terms, monthly amounts and down payments between real estate brokers and buyers can benefit. It is important to make agreements on price and extra benefits. Capital gains The increase in the value of a property is mainly considered by its location, available services, level of accessibility and development of the area. The pandemic created a good opportunity for people who wish to invest in real estate, as they will now have a higher appreciation in value than if the pandemic had not occurred. Pre-sales offer They are considered to be key investments, especially post-pandemic, because the investment prices are often lower than when the construction is completed, which in turn guarantees a higher capital gain. What to Look For When Investing When investing in real estate, the key post-pandemic is to monitor variables such as exchange rates, inflation, interest rates and risk metrics; this will allow you to define what the scenario is for each phase in the short, medium and long term. It takes into account risk and return estimation in order to diversify investment options and analyse which one suits your investment profile. It is advisable that before formalising your investment, you review the contract, check that it is up to date, that the terms and conditions are clearly established in order to avoid legal problems, and also check that it is a recognised and reputable developer or construction company. There are different types of investments, e.g. buildings, condominiums for housing, offices or even housing areas, hotels, schools, etc. The type of return to be obtained and the capital gain that can be generated will depend on this. As to when you will see returns on investment, it is important to consider that once the economy consolidates and the local cycle of each real estate market becomes active, the capital appreciation of each asset will capitalise and increase the liquidity of these assets back to normal.