The world of real estate is subject to the global events of the day as well as the latest breakthroughs in technology and movements of the financial markets. All of these factors create doubt about many things in this industry, but we can be assured of one thing: Things will always change. As a matter of fact, it would be difficult to find anything in the real estate sector that hasn’t been influenced by the factors listed above.
You may want to purchase a new home for yourself and your family or add to the growing list of properties in your portfolio. Whatever the case, the market will never remain the same, explains Todd Lubar. This fact makes the job of real estate agents difficult because they are expected to be aware of all of the latest trends.
Keeping up with the news of the day can be hard to do, but the most important thing is to differentiate between trends that are fleeting and those that are permanent. The answer to this one question will help real estate investors, brokers and agents decide what to do in the future.
Recently, I asked Nancy Almodovar of Nan & Company Properties what she believes the five biggest trends in real estate will be for next year, and I have listed them below.
- Online Brands Will Monopolize the Landscape.
The year 2018 will finally be the year that real estate agents will be expected to build their brands and showcase their work online. According to Almodovar, clients are consulting the internet before they contact a real estate agent, and they are not just looking for contact information. They also want to see if agents are credentialed along with examples of their work.
It doesn’t matter if they are looking for commercial or residential properties. Because of the internet, clients will be able to make informed decisions on where they will spend their money in less time than it has taken previously. Because the industry will be so transparent because of the internet, it will be much easier to hold everyone accountable. With more information online, it will be apparent which real estate agents are better than others.
- Everything Will Be Mass Marketed.
Social media has become a medium where people are beginning to broadcast their messages. As a result, real estate agents are going to be expected to increase their presence on the social media networks. Just some examples are Snapchat, LinkedIn, Facebook and Instagram, but there are many others as well. It is only a matter of time before we know which one proves to be the best and wins the war.
Although the jury is still out on that question, Nancy Almodovar believes that Facebook wins this contest. So many people are logging onto Facebook every day that anyone who has a presence on the platform has the potential to be seen by a humongous audience. In just one post, a viewer can learn a lot about buying a home. For example, a buyer can see videos of the home, learn a few facts about it and then find out how to reach the seller. There really isn’t a better way to market a house.
- Smart Home Automation Will Rule the Day.
It has been discussed for years, but it is set to happen in the year 2018. This means that everyone will need to showcase their properties’ smart home capabilities, and this includes brokers, investors and agents. “Smart” technology will become less expensive so that many middle class homes will have light and shade automation as well as hardwiring and security. This will make it possible for more people to enter into the smart home automation business and increase its impact on society.
- More People Will Specialize.
Real estate agents used to sell everything because the system made this possible. In order to be one of the best today, one must specialize and take the little things into consideration because other people are bound to leave those little things out. Little things are important whether you are selling a one-bedroom condominium or a 30-room mansion because they will help an agent present the home in the best manner.
According to Almodovar, a multi-room mansion has a considerable number of fixtures that must be considered and placed in the most favorable light. You have to remember that you are marketing a property worth millions of dollars at all times.
- Generation Z Is On Its Way.
The millennial has been the object of economic study for years, and economists have found that this group of Americans is highly powerful and diverse in its buying tastes. However, the next cohort to contend with is going to be Generation Z, people born in or after 1995. The oldest members of this group are just now graduating from college, but they are already making an impact. By 2020, Generation Z is expected to consist of 2.56 billion members, and they are expected to start influencing our industries and our brands now.
About Todd Lubar
Todd Lubar attended Syracuse University and graduated with a Bachelor of Art’s degree in Speech Communication and Rhetoric. He has worked in the real estate industry for more than 20 years and has been ranked as one of the top 25 mortgage originators for several years.
Todd is currently the President of TDL Global Ventures, L.L.C., a company he started to help people fulfill their dreams of homeownership. Todd believed that most people’s barrier to homeownership was the mortgage loan, so he developed a product that addressed this issue and offered them “relief.”