These days there is a lot going on in the real estate market. However, the average home buyer or investor isn’t going to be aware of what is trending, making it important for you as a real estate agent to guide them into the best possible property decision. Things are changing in both how people buy properties and what things are most important for buyers. From rental space to retail locations, there are several things you should be educating your real estate clients about.
1. Properties With Energy Efficiency Features
Living or working in an eco-friendly property has become a concern for the majority of individuals across the country, as threats and fears of global warming have more individuals conscious of the impact their lifestyle has on the earth. Energy-efficient features can be found in both commercial or residential properties, with the extent of their impact varying according to what has been installed. You will find appliances designated as energy efficient in homes or rental units, but you would be more likely to find solar power panels on the roof of a commercial building. However, these make a great investment for your homebuyers as well. You will also see double pane windows, recycled roofing materials, or sustainably sourced wood becoming significant purchasing influences.
2. Properties With Multi-function Options
If you have a commercial client or investor looking for a new property, multi-purpose properties are trending. As the suburbs start to expand and reach out past traditional cityscapes, more investors are looking for properties that can provide more than just housing. A space that provides single-family residences but also has room for retail locations like a grocery store or bank creates a micro-community. For those looking at moving into an area, the overall design and convenience of the location makes a property purchase more appealing.
Homeowners are also looking for multi-purpose spaces, as renting out rooms or an apartment area has been a trending way to bring in extra income. Companies like Airbnb or VRBO have made it possible for property owners around the country to put extra space to good use. For the potential homebuyer that isn’t ready to commit to more than a starter home, showing the income potential could be a way to bring them to making an offer.
3. Properties With Outdoor Amenities
As people have become more accustomed to spending time at home, more property seekers will be looking at the outdoor space and the potential it holds. Property investors need to consider enough land to put in park-like settings or dog parks. Whether renting or buying, people are desiring a piece of land that can be their own to garden or sit and relax at the end of the day. Features like this won’t be found easily in a city center, and you may need to educate your clients on the benefits of moving out of the city and into the suburbs to find the property of their dreams.
4. Properties for Remote Employment
More Americans are working from home now than before, a trend that is expected to hold steady, if not increase. While the Millennial generation has already been looking at single-family starter homes, a home with an office or flex space is another item being added to the wish list. There is a huge demand for starter homes in suburban communities, but homes that are conducive to working from home are going to take priority. As more people won’t have to make a daily commute into the city, desirable properties will be those near quaint shops, restaurants, or public transportation. Communities that recreate city life on a local scale are where many Millennial homebuyers are looking to settle down.
Real estate agents who know their communities and the current trends in the market will be of the most value to those seeking to purchase a property. There are unique situations in both commercial and residential sectors that are driving the industry forward, and the more competent you are in these areas, the more successful you will be in pairing a property to the right person.