This has been an up and down period of time for the housing marketplace with many twists and turns. Like in every year, the real estate marketplace can change in a moment. Because of this, property professionals will need to keep their eyes open to the newest up-and-coming trend to reach the marketplace and make a stir to sell property.
Knowing beforehand what to anticipate in terms of marketplace tendencies for the real estate business won’t just give you an advantage on your competitors but will be able to allow you to serve your clients better. You are going to be prepared and equipped to execute, respond to or be educated about how the marketplace will change for the remainder of the year whether it be bad or good.
- Technology Advancements
The progress of technological innovation in the real estate business has been changing quickly and all brokers must adapt to this to optimise exposure for their own listings. Businesses like Redfin, Zillow, and Homesnap are altering how buyers and sellers perceive the sector and it’s vital for brokers to rapidly adapt to the new reality.
- Block chain
Not to stress the previously highly-trending subject of block chain shifting the way we do think, but that is the reality of the sector. Block chain-based programs are changing the way buyers, investors and sellers interact with one another and the possessions they have interests inside. This is a different world of unleashed bandwidth, transparency and disintermediation. The property world is quickly changing, and we have to do this too, or we’ll fall by the wayside.
- Millennials Buying Homes
There has been article upon article stating millennials don’t wish to purchase a house or can’t afford a house, however homeownership for this particular age group is on the upswing. Luckily, this age group remains a substantial section of the luxury rental market along with the baby boomers who are selling their homes are a growing tenant foundation.
- Low Accessible Rental
The drought of accessible stock Has become the most unexpected trend, undoubtedly. Whether the underlying motives are demographic, economic, regulatory (i.e., zoning) or a mix thereof, we simply are not seeing as many houses hit the market as we ought to. Agents must do a much better job in generating inventory and describing the current seller’s market.
- Social Community Management
A definite trend that has surfaced is the significance of an online presence and branding. Continuous management of your internet presence has become increasingly more significant than expected and can affect your company if it is not faithfully handled. So, also, is the effect of next generation on the market. We’ve seen their sway in how a property for sale is designed and promoted, and this is only going to grow.
- Gain Taking in Affluent Markets
One of the tendencies that we’ve seen is profit taking by investors and homeowners at a number of the major markets we follow. These listings have generally started 15-20% over market and gradually work themselves back looking for an elevated pricing ground. That which we have to learn is if that gain taking is working to set up a new pricing flooring for the total sector.
- Visual Marketing Trends Soaring
We’re seeing a massive rise in agents recognising that the value in utilising experts to assist with all their visual marketing needs — digital staging, drone photography and video, virtual tours, interactive floor plans and much more. Employing the experts to assist will become much more of a “must have” for homeowners, agents and home seekers alike.