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Real Estate Trends and Innovations to Keep an Eye On

Starting a career in the real estate industry can be very promising and lucrative. Housing is, after all, a commodity that every one of us needs. However, trends are fast-changing, and if you are looking into a successful run as a realtor, you need to be updated on these trends constantly.

Remote Viewing and Virtual Property Tours

Technology is truly a remarkable thing, and it’s being proven by real estate marketing ploys that invite people to take virtual tours and remote viewing of their properties. Virtual tours are 360 photos, recorded videos, or, more recently, 3D photos of the properties that are posted on their websites. On the other hand, remote viewing is when a realtor or property owner can show you the property via online video call or recorded video, allowing you to view it at the comfort of your own home.

Virtual tours and remote viewing are very convenient because it saves us time and money. It also gives a feeling of ease and safety, especially when people are still wary of going outside. It’s surely a creative and innovative solution that will stay long after this pandemic.

Moving Out from the City

One of the surprising trends that came out of the pandemic is the sudden decentralization of cities. More and more people are moving out of the city and back to their hometowns (or migrating to the countryside). The sudden shift in society’s dynamics has affected even the real estate industry, as real estate agents are seeing more activity in countryside properties over city-center ones.

A large part of the reason for this sudden migration is to avoid the virus. Cities are often densely populated, and with businesses opting for a work-from-home format, there’s very little reason to keep renting near the business district. And since many companies find increased productivity through a remote working format, experts predict the decentralization of cities even as the pandemic subsides.

Smart Homes and Tech-filled Houses

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An interesting innovation that looks like it came out of science fiction is smart homes. In the past few years, we’ve seen the rise of smart appliances and improved home security, among many other things. Being able to control your home and home appliances remotely isn’t a new idea (remote controls being an example), but recent developments show that the improvements are unprecedented.

With smart home AI constantly improving rapidly, a wholly self-operating home is soon to be expected. Being fully aware of what’s happening to your house, from knowing how much milk you have left to whether your lawn needs servicing, is now a common expectation among new homeowners. This shift to a more technologically-driven home system is expected to continue well into the future.

The Clamor for Sustainable Home Design

The new millennium has sparked many issues regarding nature, and many experts have been urging people to be more conscious of how we treat our planet. Because of this awareness, more and more homeowners and developers are starting to push for better sustainable construction and design. Besides its impact on nature, sustainability also positively affects us financially, allowing for cheaper options in construction, more savings in long-term investments, and low consumption costs.

This trend in sustainability, partnered with earthy, nature-inspired styles, is not just mere fads bound to fade once a new design trend comes up. It is now more often integrated into architectural and engineering processes, so much so that construction companies are developing ways to create sustainable materials. These materials are also being promoted to become more commonplace and accessible.

It’s the Millennials Turn to Buy

Homeownership has been a running joke among millennials. Many find it difficult, if not impossible, to afford the high mortgage rates. However, with real estate prices dropping because of the pandemic, more and more millennials are finding themselves able to afford real estate property.

As a matter of fact, in 2020, millennials have bought the most houses, even resulting in a real estate shortage. This has provided accelerated statistics in homeownership among the said age group. And as the years go by, and as the younger generations find themselves in better financial situations, it’s clear that this trend will prevail until the future.

As someone within the real estate industry, you must always be updated on these trends and innovations. This knowledge will help you successfully understand and describe your clients’ needs (and wants), which can, in turn, help you close sales.

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