Covid-19 has shaken up lots of industries, commercial real estate being one of the hardest hit. Read on for commercial real estate marketing statistics from 2020 so you can plan ahead for 2021.
As companies in struggling industries shut down (think oil and gas, and retail), normal flows of leasing shifted dramatically.
Everyone started using language like “the new normal” and that new normal left a lot of office space open.
Businesses across a variety of industries tried to hold out during lock downs but as the months passed, many struggled to continue to pay their leases, defaulting on loans. Delinquency rate hit record highs…
As states open up and a vaccine is on the horizon, things are looking up, but the issues Covid-19 caused won’t be quick to recover. Businesses shifted to having their staff work from home and many are planning on keeping that. Commercial real estate, just like any other industry will likely flex with the changes.
However, experts determining top commercial real estate marketing statistics claim that the recovery may take years.
In the time between 2021 and 2025, the market will be extremely cutthroat. Commercial real estate brokers and agencies will have to fight for every prospect and every space they lease.
Now it’s more important than ever to optimize marketing and find unique forms of competitive advantage that are both effective and cost-effective.
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