The real estate market is a fickle thing, constantly changing with the tides. Housing prices are affected by the weather, the time of year, the day of the week, economical forces… the list goes on and on. Immersed in the local real estate market here in the East Bay of California, we (KRG Realtors) have our own forecasts about the most prevalent factors impacting how people buy and sell real estate right now. It’s difficult to see how these influences will shape this year’s market, as “hindsight is 20/20,” but these 3 topics have the attention now: 1. Technology, 2. Buyers, 3. Brokers.
Today we briefly discuss #1 Technology. (Please review Part 2 & 3 for the continuation of this series)
Have you heard the buzzword in technology yet? It’s “robust” and it’s everywhere. Technology in real estate is surging, and every new platform, app, and CRM is the latest, most robust thing to hit real estate. Realtors are incorporating more technology into their prospecting, marketing, and cultivating, creating a whole new, very digital experience for buyers and sellers. Companies like Zillow, Redfin, Trulia- have been around for a while, allowing buyers to preview homes from their couch. But with virtual staging on the rise buyers feel tricked when they view a home in person that was digitally altered and now the empty house feels misrepresented. A few months ago Zilllow revealed their new direction to streamline the customer experience. An instant connection between pre-screened agents and Zillow shoppers via phone call. At the end of the phone call, Zillow shoppers were instantly invited to review their experience with the agent they just spoke with. Sound familiar? Yep, they are modeling their new service after Uber. One thing is certain, the process is slowly becoming “easier” for consumers in some regards but these new technologies bring their own, new set of challenges.
(Please review Part 2 & 3 for the continuation of this series…)