Finding Opportunity in a Time of Crisis
I believe it was Winston Churchill who said “Never Let a Good Crisis Go to Waste”. I never really thought about that statement that much until the Covid-19 virus started to spread across the globe. The obvious meaning behind that very popular statement is that a crisis forces people to react and think outside the box to find solutions and opportunity. The Covid Crisis has presented many problems in Costa Rica even-though the active case numbers remain relatively low and nonexistent here in Jaco Beach and Los Sueños.
Health issues have not been a problem on the coast so the main issue has been the lack of income from no tourism in the beach communities. The more dense communities in cities like San Jose have seen a bit of spike in active Covid numbers but it has been manageable so far.
I started thinking more and more about “Never Letting a Good Crisis Go to Waste” and how to find a solution to the Real Estate market slow down. The majority of my buyers here in Los Suenos and Jaco Beach have historically been from North America and currently international travel is not permitted to Costa Rica unless you’re a Costa Rican citizen. In addition, a lot of the property sellers typically rent out their homes when they’re not personally using them to generate income. The sellers that have not generated any income from rentals over the past 5 months are starting to become increasingly motivated to hear offers. The general feedback I’m hearing in the Real Estate world is that buyers are looking to move out of cities due to the virus and find a better quality of life with more space and green areas.
That is when the “AHA Moment” happened and I realized the solution is to temporarily shift our marketing focus from North America directly to local nationals in the San Jose area that are looking to get out of the city and find deals in the coastal resort communities like Los Suenos. The new marketing campaign is working with numerous showings, contracts being signed, and closings scheduled. There is also light at the end of the tunnel as the international airport in San Jose is planning to open back up very soon. I anticipate an explosion of activity as soon as that San Jose airport opens for North American travelers due to the calls, emails, and text I’m getting from pent-up North American clients. Time will tell, but in the meantime a temporary solution and a new opportunity has been found here in paradise…