Trends in the Real Estate Industry Agents Should Watch Out For In 2017
Uncertainty is inevitable at any given point in time due to the dynamic nature of the world we live in. If it is not a change in a regime, it is a speculated rise in interest rates, changes in demographic characteristics, among many other elements. The real estate sector is almost always affected by such changes, which keeps the realtors on their toes.
When asked to predict the economic things in the real estate industry, Mark Greene, a 25 year veteran in the evolution of mortgage industry, showed much optimism.
Based on his experience in the sector, Greene believes that in 2017, people will sell houses, there will be buyers and consumers will get mortgages. He further encouraged real estate brokers to utilize this information with confidence as they pursue the housing market dynamics they are contemplating. Mark Greene argued that agents need not worry about mortgage interest rates because they neither drive nor impede the activities of the housing market and that they are just a part of the equation.
This article highlights three critical trends that agents should watch out for in 2017 to not only remain relevant in the industry but also make it much bigger than last year.
1. 3D- Listings and Virtual Reality
The speed at which virtual reality is gaining popularity in real estate is simply evolutionary, and the majority of agents began to embrace 3-D virtual tours at the beginning of this year. 3-D tours provide listing agents with improved efficiency while at the same time giving them the opportunity to come out as tech-savvy before their clients. Apart from being able to prospect more, the increased efficiency helps you save money you would have spent on gas.
You just have to bring clients to the office, create a great atmosphere, set that virtual tour, and then sell the house. Sellers will find this option a lot safer and more convenient. The buyer too will benefit significantly because he can look at several houses from the comfort of your office – and in a short time.
2. Facebook ads
Any digital marketing guru will admit to the fact that we are living in the golden age of Facebook Ads. If you are spending money on lead generation through online advertisements, your best bet is either Google AdWords or Facebook Ads – or both of them. Professionals in the real estate are discovering the benefits of assigning a portion of their marketing budget on Facebook advertisements, particularly those operating in the tier one markets such as Los Angeles. The unit cost of Facebook ads in tier markets is lower than that of smaller markets. Undeniably, this option will become more expensive for agents as return on investment is expected to decrease over time. Irrespective, grab the opportunity presented by Facebook Ads and jump straight into inbound marketing capable of generating leads within one or two years.
3. Commission advance companies
Although real estate agent commission advances services have been around for quite some time, it will continue to gain roots in 2017. Real estate agents do not have to wait until the closing day to receive their commission on a sale they just made. Commission advance companies avail alternative funding to agents to help them access their commission sooner.
The above three tips should help you stay ahead of the competition in 2017, and beyond. You can find more information online. The Middlegate Funding website may be a good place to begin your research.