Following a real estate trend helps us to plan our budget and implement it accordingly when the time comes. Every passing year sees a gradual yet significant change in the real estate industry, out of which some are seemingly outlandish, but some definitely manage to give the industry a different turn altogether. And it is definitely true that each of these tactics and tools is relevant to the industry and have the potentiality to improve the functioning of the business and take the marketing campaigns to the next level.
As the year 2018 approaches to its finale, we are looking at some of the Real Estate Marketing Trends that made a news in the year and seems to stay in trend in the coming year as well.
- Technological Advancements- This has been definitely the most-steady trend in the real estate business. The industry has come a long way from being a traditional one-on-one business between the broker/seller and the buyer to become a visually marketing platform. Properties across the globe are bought and sold in a matter of minutes and legal proceedings are mostly online. Photos and videos of the property and visual chat with the buyers and sellers does the job easily.
- Rising Prices of Real Estate- This is a no-brainer that with every passing minute land is become scantier, which is leading to sky-high soaring of the property prices. The trend has been seen majorly in the Tier 1 and Tier 2 cities across the world, where the inter-country and intra country migration is huge due to reasons known like better opportunities, improved standard of living among others.
- The rise of Co-operatives- Commercial Real Estate has seen a significant change in the last decade with the advent of co-operatives. Owing to factors like mass and easy availability and affordable prices ranges, co-ops continue to list themselves as one of the most favoured spots to shop. Despise continuous and rising competition from e-commerce portals, co-ops like Walmart and Ikea continue to rise and shine.
- Millennials investing- The last half decade saw a profound rise in the single family. As the millennials have greater purchasing capacity, a majority of people under the age of 35 are investing in individuals’ properties. This can be also attributed to the fact that most millennials come under the migrated population, and as the choice of buying over renting has been widely becoming popular.
- New Construction- In support to the points mentioned above, this seems like an obvious trend that doesn’t seem to be going out of focus any time soon, unless hit by a recession. Real estate industry will be seeing a rise in both commercial and noncommercial sector for the years to come.
Now that we are adept with few of the real estate trends that will continue making news in the following year as well, you can set your goals and create a budget to implement the plans accordingly.