As the global real estate market and economy evolve, we all have a choice. We can either ruminate and complain that the world is unfair or we can adapt and develop skills that will better suit us in the economy of the future. The real estate industry seems to still follow its old, traditional 20th-century model. But only at first glance. From visual marketing and video emails sent to prospects to property management software that runs on the cloud and improves the efficiency of operations, everything is brimming with innovations. Change is not only here; it is already disrupting the real estate industry. Here are four trends that will not only disrupt but transform it completely in 2019.
Visual marketing and digital mojo
Visual marketing has, from being just an innovation, turned into a norm for real estate agents. Real estate agents that aren’t following the latest trends will be left behind as their tech-savvy competition leads the way. The use of visual marketing is everywhere. Customers are demanding it more and more, from photography to drone videos, interactive floor plans, video tours and virtual staging – the essentials for any effective real estate agent marketing strategy.
Next, many agents found value in having a real estate blog as it can show off their experience and expertise about the market. Blogging can also be utilized as a competitive advantage particularly when one has a basic understanding of SEO and a comprehensive social media plan. You can rank better in search while the blog itself can become a place to obtain business, not just talk about it. It is crucial for a blog to provide customers with useful data that can help them in their selling or buying journey.
Once upon a time, “the cloud” was viewed as a hidden part of the internet that nobody goes to. But now, cloud-based solutions are becoming one of the most important trends as legacy server-based solutions become more and more obsolete. The reason behind this can be found in the many benefits of cloud-based property management software – less time and money required for operations, increased security, scalability and larger accessibility. These systems have access that enables owners and tenants to just log in and view their financial and property information at any time, thus reducing the amount of communication required.
Property management software allows its user to automate numerous business operations that typically require hours of work. As it is an Internet-based platform, data is updated automatically and saved online, allowing ease-of-access and online protection. Comprehensive reports can be generated on demand while data encryption secures it from unwanted access.
Maintenance tracking is also easier, as cloud-based software alert of any maintenance issues instantly and offer your tenants the ability to create tickets in the same way as they would if they were going through a customer service portal.
Grey will transform into green
Pantone chose two shades of green (18-0416 and 17-0542) for the spring/summer of 2019. In the real estate world, grey installations and grey cement will turn into green and green plants. It is now evident that nature has a positive influence on the well-being of people while they offer various benefits for our personal harmony and health. Plants create a restful and relaxing atmosphere, muffle sounds and improve air quality – snake plant is the best, according to NASA.
In the Netherlands, The Spot, Trudo, Wonderwoods, Toren, and Vertical became remarkable buildings precisely because of their green facades, while Google, Amazon and LEGO Group found that for their new offices, plants, nature, and light play a crucial role. It’s about creating a living environment that doesn’t stimulate all the time and offers a space for reflection. The number of designs that incorporate natural elements is increasing as Japanese Shinrin-yoku (forest baths) is starting to appear – a place to reevaluate silence and to detox from the digital.
The apartments’ arms race
In this competitive real estate market, apartment builders and landlords are starting an arms race for new amenities. High-tech gyms and rooftop access are only the tip of the iceberg. Nowadays, innovative multifamily buildings incorporate dog runs, movie theaters, access to coworking spaces and communal gardens. As landlords search for new selling points to attract renters, smart homes and service-economy companies are also engaged in this arms race as they try to offer benefits such as a laundry service.
There are other trends we didn’t have time to write about, like the urban revitalization in smaller cities as young adults return to the suburbs, new generations delaying buying homes and searching for single-family homes, or the rise of artificial intelligence as machine learning begins to be utilized in building management, design and organization. Research every trend as some may hinder you, while others can lead to your success.