{"id":13968,"date":"2021-09-16T05:00:00","date_gmt":"2021-09-16T05:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/real-estate-firms-reveal-biggest-challenges-over-next-2-years\/"},"modified":"2021-09-17T18:17:41","modified_gmt":"2021-09-17T18:17:41","slug":"property-firms-reveal-biggest-challenges-over-next-2-years","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/property-firms-reveal-biggest-challenges-over-next-2-years\/","title":{"rendered":"Property Firms Reveal Biggest Challenges Over Next 2 Years"},"content":{"rendered":"

\"Property<\/p>\n

Property firms saw business activity increase over the past year as the housing market rose across the country.<\/h2>\n
\n

Property firms saw business activity increase over the past year as the housing<\/a> market surged across the country. In 2020, single-office firms had a median brokerage sales volume of $4.5 million and 19 real estate<\/a> transaction sides, up from $4.2 million and 18 in 2018, according to the NAR\u2019 newly released 2021 Profile of Property Firms. The biennial survey reflects responses from more than 6,000 REALTOR<\/a> executives and senior managers about business activity.<\/p>\n

Firms with four or more offices posted a median brokerage sales volume of $146.2 million and 571 transaction sides in 2020, an increase from $100 million and 478 sides two years ago, according to the report.<\/p>\n

Nearly three out of five property firms expect profitability or net income from all real estate activities to increase this year too, the survey shows.<\/p>\n

But they do expect headwinds could undercut some of that growth over the next year. Property firms noted the biggest challenges over the next two years that has them most concerned are:<\/p>\n