In 2020, the real estate industry acquired a brand-new dynamic. The traditional real estate methods shifted with the help of technology. At the same time, popular demands changed as a new millennial generation entered the work field. Moreover, the COVID-19 pandemic increased the number of features that a house needs to have.
However, this doesn’t mean that your work as a real estate agent needs to get harder; you need to find the best tools and techniques to ease your job. In this article, you’ll find out seven real estate trends that will help you work less and benefit more.
1) Get To Know Your Clients
Statistics show that the majority of property buyers are millennials, which means that most of your clients will have different criteria and demands compared to past generations. So, try to know millennials and their requirements. Here are a couple of significant millennial expectations and needs:
- Online real estate. Millennials are born in a highly digitalized era. Therefore they Google everything before they make a decision. For example, millennials use the internet to find a definition, a good paper writer service, or even a real estate agency. So they expect to see your website online.
- Communication through social media. Your real estate site is essential, but millennials spend a lot of time on social media because that’s where brands and companies advertise their products. So, you can’t have a website without social media platforms to promote your agency.
- New apartments. Millennials have high living standards, so they won’t buy a house that needs a lot of investments and restructuring.
2) Empathize Quality Over Quantity or Price
As mentioned before, the new generation of property owners has different standards. Millennials are more aware of the quality of items, yet they like to keep track of the popular demands. So, if you want to be efficient in selling properties, try to highlight the significant and trendy features of the domain.
Location is a vital aspect of a property. For example, millennials want to live in a safe neighborhood. However, they want to be close to the center of the city. If the property you’re selling has a great location, try to leverage that.
Additionally, the new generation would rather have a little condo with many benefits than a big house that needs investments. So, don’t focus on the size of the house or apartment.
3) Create A Mobile App
A website and social media are not enough to properly advertise your company and boost your sales. Therefore, you might want to upgrade your agency.
Research shows that 76% of all real estate buyers find their property on a mobile device. So, think about investing in a mobile app for your firm. Don’t forget to create an account on different social media platforms and update the content. If you want to boost your sales, you can even pay for advertisements on socials and increase your website’s traffic.
Don’t forget that communication is key. Try to be available for questions or set up a real estate software that can handle clients’ requests. Stay connected on all social platforms and encourage your customers to consider all of their options.
4) Be Truthful And Give Good Advice
When you’re trying to sell a property, tell the truth. Is it a place with a lot of traffic and noise, or is it a space that doesn’t get much sunlight? If you highlight only the good sides of your domain, your clients might think that you’re merely focused on getting rid of the property as soon as possible. Millennials appreciate an honest opinion, and it won’t sacrifice your business. Clients know that a property can’t be perfect, so, they might compromise on something.
Moreover, don’t omit crucial information about the property. For example, if your clients are moving from across the country, tell them about the climate and neighborhoods.
Technical data is also quintessential. For instance, maybe the furniture is included in the property, or the house had a restructured foundation. Mention any possible problems and their solutions.
5) Upgrade Your Business With Virtual Reality
Furthermore, you can use virtual reality or other tools for your website. For example, when you’re listing another property on your site, you can take 360 degrees photos of every room aside from the usual pictures. Make sure that you take them with a great camera so that the images are clear.
Now more than ever, virtual reality is vital. People are urged to stay at home as much as possible, so touring can be difficult. Try to make videos of the house. You can also have a digital meeting with the clients and show them around with your phone. The cutting-edge technology nowadays even gives you a chance to create 3D tours. So, if your company can invest in this type of technology, use it to the maximum.
6) Use Blockchain
Real estate transactions are stable with the help of blockchain. So, try to get familiar with it as it aids with security and efficiency.
Blockchain can help with tokenization. This is a method of investment through the use of cryptocurrencies. So, customers can buy property by collecting money from different locations and accounts. Tokenization also enables proprietors to sell parcels of their domain.
Secondly, blockchain helps with smart contracting. Blockchain can help buyers and agencies reach an agreement fast and easy.
7) Consider The Budget
The pandemic had a substantial effect on the worldwide economy. So, if buying a home was hard before, now it’s even harder. Try to present all the possible options for your clients. You may encourage them to consider all possibilities. For example, maybe your clients wanted a house in the suburbs. However, they can’t afford it. In this case, you can suggest an apartment in a safe residential area.
Alternatively, if they love a house that is above their budget, suggest setting up an online fund. Specifically, if the sum needed is of a couple of thousand dollars, online funds can aid the clients in buying their dream home.
If you wish to be more successful in the real estate industry, try to use technology as much as you can. Help your clients with useful advice and keep their budget in mind. Also, integrate blockchain and real estate software in your business.
Emma Coffinet is a freelancer and a paper writer. She also creates websites and writes blogs. Emma loves writing about social media management, economics, and SEO methods. During her spare time, she travels and paints.