7 Real Estate Marketing Trends to Keep an Eye On In 2016
As early as now, emerging real estate trends this 2016 have already been identified. Here are seven (7) Real Estate Marketing Trends you need to keep an eye on this year.
1) Millennial as first-time buyers.
Millennial is the term used referring to individuals who were born and grew up in the digital age. They are now in their early 20s and majority of them have already been earning their own income through online businesses even before they graduated from high school. Early earning opportunities have enabled them to save up for their future homes at an earlier time as compared to those who were born before the millennial generation. They already have a fixed idea on what they want as part of their real estate portfolios, as a result of data gathering and research using the internet and other digital tools.
2) Owning a home vs. Renting a home
Rental fees are steadily increasing, making it more practical to buy a home instead of renting one. Nowadays, rental fees are equivalent to or higher than any monthly amortization of a housing loan. Individuals would prefer to buy a home than to rent one for practical financial purposes.
3) Economic revival from 2008 Housing Crash
Housing crash that happened in 2008 resulted to families losing their homes to foreclosure. The economy has been gradually recovering from that catastrophe. This year, the move to increase interest rates infer a healthy economy which will result to the growth of homes sales and prices at a healthy pace that individuals can keep up with.
4) More opportunities for single family and entry-level homes
Builders, in the past years, have been building high priced homes that not everyone can afford. However, the stabilizing market economy will soon prompt builders to build affordable price homes since first-time buyers will be granted accessible credit than the previous years by the Federal Housing Administration. The possibility of owning an affordable home will drive single family and first-time buyers to acquire credit for their home purchase.
5) The Rise of 18 Hour Cities
There were two types of City settings. The 24 hour cities, where businesses in the downtown areas are always open, and the 9-5 hour cities, where businesses in the downtown areas are abandoned after working hours since the majority of their workforce live in suburbs. The rise of 18- hour cities is a trend to watch for real estate investments purposes. This is where businesses and residential homes are clustered together. Potential residents will be attracted to these cities because the satisfaction of their needs will be within easy reach.
6) Use of High technology as a Real Estate Marketing tool.
Advertising for Real Estate Properties is not limited to television and print advertisements. Living in a digital environment, everyone has access to smartphones. With this in mind, a beacon technology has been developed wherein it detects the availability of smartphones in its assigned location. Once a smartphone is detected, it then sends a message or notification that advertises the real estate property available to sell or buy.
7) Addition of mortgage brokers and credit counselor to the pool of real estate agents.
Being in a real estate business, one must be prepared to cater to every need that is involved in the transaction of selling or buying a home. Real Estate agents must also be paired with real mortgage brokers and credit counselors, who are available to assist buyers and sellers in closing the deal in a timely and accurate fashion.
With the above 2016 Real Estate Marketing Trends to consider, one cannot help but be overwhelmed by the decision one has to make in purchasing a home. In case you need expert opinions to ease your burden, agencies like Regal Realty Orlando can be easily reached out to.