Real estate is an evolutionary industry that’s constantly on the go. As technology becomes more important in our lives, it becomes equally as important in real estate, too. In comparing the industry today to the industry 10 years ago, we found a few dramatic changes and shifts in trend.
To find clients 10 years ago, agents often found themselves making cold calls and answering classifieds via phone. Clients looked to Realtors as the know-all of information for buying or selling a home—asking details about square footage, new upgrades, neighborhoods, school districts, etc. Today, clients find most of this information on the internet, long before they ever meet their agent.
The endless stockpile of information that’s available at the touch of a button gives buyers and sellers a newfound and continuous source of knowledge. According to top real estate professionals, clients use the Internet as a means of online shopping for a home, and most already know about 70% of the information that goes into a listing before even seeing the home. In 1995, only 2% of buyers looked to the Internet for information before consulting an agent. Today that number is over 90%. Now, real estate aggregators publish lists of properties for sale before they even hit the market, making bounds of information easier and faster to access than ever before.
But industry changes aren’t limited to the increase in client knowledge. Agents have also transformed their marketing strategies by utilizing modern technology. Most agents and companies have created mobile websites, apps, social media accounts, etc. for their business, because to remain competitive. Email marketing has become the top information distribution channel for agents and other sources of media are rapidly increasing as well. Ads in the newspaper or Yellow Pages have transitioned into Instagram posts and tweets. With these new means of advertising comes a new game to play. Now, a huge part of competing is having a better display ad or 3D virtual tour than the competition.
Additionally, agents commonly use sites that provide analytics to track their leads and hyper-target their clients. Through websites like Zillow, agents can pay to generate hundreds of leads. With sources like this existing today and the fast development of technology, it is easy to assume that the real estate industry will continue to change rapidly.
K Real Estate utilizes the most thorough and up to date industry technology available, and our agents are trained extensively to keep up with the latest trends. Are you thinking of buying or selling? Give us a call at 713.364.4003 or send us an email at email@example.com to learn more about how we can help you actualize your dreams!