Today’s real estate professionals are faced with a variety of challenges. It can be challenging to balance your time between the tasks that are pressing and those that are important for the long-term sustainability of your business. But, the more you work “in” your business right now, the less time you have to work “on” your long-term vision—especially in an industry that is constantly riddled with change.
With that fact in mind, be on the lookout for these 4 emerging trends that may have an impact your business plans for next year.
- More and More Apps. Have you noticed that there are apps that help you with all aspects of your business? Long gone are the days when you need to hire a graphic design team to create your listing flyers or your single property websites. Each day there are new apps available to help you solve problems and increase productivity. As the need to hire professionals decreases, watch for more competition in the market to get your “app” business, and watch for more free apps or products that have a monthly charge for a premium service with more bells and whistles.
- Expect Continued Industry Disruption. Every few months there seems to be some big online ruckus about the way in which some newfangled product or service is disrupting the real estate professional’s ability to get the job done. Whether the hubbub relates to more online real estate brokerage services or whether it relates to advertising (read: Z and T), there will be more of these disrupters. Now is definitely the time to hone your skills; use future industry disrupters as a way to create a dialogue about the unique value you provide as a local real estate professional.
- Decreased Pay-Per-Click Leads. As consumers become increasingly tech-savvy, less online shoppers will click the paid ads in search engine results—you know, the ones that show up at the top and on the side of the search engine results page. As a result of this phenomenon, there may be less PPC leads in your pipeline. Look to alternative online advertising methods, such as the ones noted below.
- Consumers Will Demand More Visuals. According to The Power of Visual Storytelling (Walter and Gioglio), the human brain processes visuals 60,000 times faster than text. Keeping that in mind and knowing that more and more millennials are purchasing homes, wouldn’t it make sense to focus your advertising on videos and photography? Over the next year, consider transforming your blog by adding more infographics and videos. Watch for more products and services to help you meet the needs of the changing consumer who craves access to increased imagery online. Expect additional products in the 3D photography space, currently dominated by the Matterport Pro 3D.
An expanded app market, a disruptive industry, changes in Internet search trends, and increased visuals are trends that will impact the real estate industry this spring. What would you add to the list?