Just like any other industry, real estate never stands still. It’s subject to the same transformative forces and new trends as the rest of the economy. Whether that’s new mobile apps changing how realtors manage property listings or differences in how potential buyers scan for real estate opportunities, nothing ever stands still. Here are four real estate trends and innovations that are worth paying attention to.
The cost of physical staging for real estate is prohibitive. It could be in the tens of thousands of dollars for the luxury end of the market, and for more affordable properties, it may not have even been in the budget. Fortunately, virtual staging has now come of age. With the use of augmented reality, software solutions now make it possible to re-imagine the interior of a home. However, what’s needed is a skillful set of hands that can deliver eye-popping results while having a keen understanding of real estate markets too. To get a first look at virtual staging, check out bariondesign.com.
Big Data For Number Crunching Revelations
Originally, realtors had little information to go by on local markets. Then the MLS system came along, which provided realtors with more data. Since this time, big data has enabled the correction of real estate information to develop more meaningful market insights. Tools such as Zillow and Redfin make it possible to get a better overview of what’s happening in the nationwide market, instead of only a local perspective. For investors who like to dabble in real estate across multiple major metropolitan markets, new tools have helped to refine their strategy going forward.
Further Energy Efficiency In Buildings
While the idea of energy efficiency isn’t new, its implementation has so far been spotty at best. Making energy-efficient tweaks does provide some immediate benefits, but when a home was never produced with energy conservation in mind, it’s difficult to overcome this initial impediment. Over the coming years, as new buildings replace older ones, the housing market will increasingly see homes that were designed from the ground up to be energy efficient. This will be a marked improvement in the energy usage per occupant over what it is today.
Chatbot Answers On Real Estate Sites
While not everyone is a fan as yet, the chat-box that pops up on realtor websites is not always staffed by humans. Intelligent chatbots that rely on AI and prewritten replies can offer links to relevant news stories, short answers relating to their queries, and other useful tips. If the visitor still needs to speak to an assistant, someone can be notified in the office to reply directly. Using AI chatbot tools can reduce the number of daily interruptions to answer small queries. This allows the real estate team to focus on marketing their listings to increase the total achievable sales.
Not every real estate trend is worth jumping on board. Nevertheless, the ones mentioned above are encouraging and introduce some positives for the industry and buyers alike.