Historic Low in Foreclosures: A New Opportunity for Real Estate Agents

According to the latest data from the National Statistics Institute (INE), foreclosures on primary residences have reached historic lows. In the third quarter of 2024, 1,718 foreclosures were recorded, a 1.1% decrease compared to the same period in 2023. This represents the lowest figure since the spring of 2020, during the peak of the pandemic.

What does this mean for real estate agents?

• Less competition: With fewer foreclosures, competition among agents to acquire these properties is reduced.
• Investment opportunities: These properties can represent unique opportunities for investors seeking to acquire assets at attractive prices.
• Increased rental demand: As the number of foreclosures decreases, rental demand tends to increase, which can generate new business opportunities for agents.

Key data:

• Widespread decline: Foreclosures have experienced a generalized decrease in all segments, both for individuals and companies.
• Increase in initiations: Despite the overall decrease in foreclosures, there has been an increase in the number of proceedings initiated. This suggests that the impact of protective measures for mortgage debtors is gradually diminishing.
• Segments to watch: Foreclosures on properties owned by legal entities have experienced significant growth, presenting opportunities for agents specializing in real estate asset management.

Recommendations for real estate agents:

• Specialization: Consider specializing in the management of properties acquired through foreclosure.
• Networking: Build relationships with financial institutions and investment funds to access exclusive opportunities.
• Targeted marketing: Use digital marketing tools to reach investors and buyers interested in these types of properties.
• Legal knowledge: Stay updated on the current legislation regarding foreclosures to provide adequate advice to your clients.

In conclusion, the decrease in foreclosures represents an opportunity for real estate agents to position themselves as experts in this niche market. By taking advantage of this trend and offering specialized services, you can stand out in an increasingly competitive sector.

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