5 Trends in Real Estate That You Should Know About

As everything that is happening in the world, there is nothing that is constant but change. The real estate scene is no different. It has evolved over the past few years due to emerging technologies introduced, which has a significant effect on how buying and selling in the real estate world are done these days. Indeed, there are always new things for consumers to look out for as the real estate scenario is also keeping up with the times. A company that buys houses has more advantage at present as there is more information posted online nowadays that you can access. The same thing goes for the sellers who have the added benefit of posting their properties online for more consumers to see. Listed below are five trends to look out for in the changing real estate world.

  1.  The rise of millennial buyers

At present, the large bulk of homebuyers would be the millennials. Nowadays, millennials are already thinking of owning properties as they are somehow capable of paying larger mortgages. But with the prices of homes steadily rising, millennials prefer to look into properties in the suburban areas which can give them affordable options as well as a better quality of life which millennials are known to look for.

  1.  The return of foreclosed buyers

The aftereffect of the crashing of the housing market in 2007 to 2009 would be felt at present as the homeowners who were forced into foreclosure can finally buy their own property after seven years. Home sellers should study the preferences of these foreclosed buyers who are also known as boomerang buyers. They are expected to be more cautious in choosing the next property they want to own based on their previous experiences. Another tip for investors for this boomerang buyers niche is to target the renters because this group has only recently been qualified to purchase properties.

  1.  Property buying through crowdfunding

Another trend observed nowadays in real estate scene is buying of property through crowdfunding or multiple ownership. Home prices are continuously increasing; therefore, sellers are creatively thinking of ways to fund properties with the help of many investors for a single property. Fund sourcing for new homes or home renovations will be easier using this method

and will also benefit the investors who want to have passive income in this manner. Although selling a property with multiple owners will be more complicated thus, everything has to be legally-settled for this strategy to work out for everyone involved.

  1.  Preference of smart home products

Modern technology has an enormous impact on all kinds of businesses and marketing real estate is no different. Home buyers nowadays are looking into houses with built-in security systems using smart home gadgets. Millennials, specifically, are the ones with the highest interest in installing smart home products in their homes. It is wise to say that home sellers should look into this niche in the market who show a preference for smart home technology and make their properties for sale to suit these young, modern consumers.

  1.  Agent-free markets

With the emergence of new technology and online visibility, the possibility of agent-free markets is big. Tech-oriented real estate firms are now helping real estate buyers and sellers with their transactions bypassing agents, thus saving up on the high cost of real estate agent fees which are usually at 5 to 6% of the home sales price.

Trends in real estate marketing are ever-changing, and it is best to always be updated with the current and past events that may affect the market. Expect modern technology to be a great part of changing how real estate marketing works and the innovations in the homes that can add to increase in home sales.