The real estate market in 2019 was slow and investors hope things will turn out better in 2020. Home prices grew by 3.3%, which was slower than the 5% experienced in 2018. Investors hope that in 2020, a growing job market and low mortgage rates will boost the housing industry.
For your real estate business to survive in this slow environment, you have to inject new ideas into your marketing campaigns. You can’t use the same old techniques and expect to gain traction in this business environment. This is where trends in real estate come in handy.
Here are some of the real estate marketing ideas you should watch out for in 2020 to take your investment to the next level.
Big data is no longer a buzzword but a reality across industries. In real estate, big data is already in application but it will get even bigger in 2020. By leveraging the increased generation of data across multiple touch points, real estate agents can match sellers with buyers much more easily.
Big data helps optimize consumers search making it easier to match customers with their desired home. The big data and analytics trend in real estate has just set off and if you are in this industry, it is time to cash in on the trend and grow your business through predictive analysis.
The smart home revolution continues growing and it will dominate the market in 2020. Forecasts for smart home revenues in the New Year are US$90,968 million. There’s no stopping IoT in real estate as more home buyers look for smart innovations to automate their homes.
Smart homes are more convenient, energy-efficiency, comfortable, safer, and secure. If you are a real estate agent, you have to leverage the high demand for smart homes to build a converting listing. With tech-savvy millennials and Gen Z now dominating the home buying market, you have to offer them properties they will love.
Real estate marketing is tough with so many properties on the market and few takers. You have to stand out from the crowd if you want to boost traffic to your real estate website. One way of doing this is by integrating Virtual and augmented reality in your marketing campaigns.
VR technology gives prospective buyers a more immersive experience of your listings. The spatial visualization allows buyers to determine early enough if this is the property they want. VR and AR give a higher quality experience to buyers through remote property viewing and better interactions at multiple stages of selling, buying, decorating among others.
Two decades ago, artificial intelligence looked like a futuristic concept that would not be applicable any time soon. Today, AI is a big trend in the marketing industry and you can now leverage it in your real estate marketing campaigns.
Algorithm tools using AI match property deals with the right customers. They also increase the relevance of recommendations, among other things.
Homeownership is down to levels seen way back in the 1990s. Millennials who are the biggest segment of homeowners seem to believe in sharing available space hence the rise of shared housing platforms. If you are a real estate agent, you have to incorporate this trend in your listings to suit Millenials interested in co-housing.
These are only a few of the real estate marketing trends. If you want to stay ahead in this competitive market, you have to stay on the lookout for the latest trends and adopt them early. These marketing trends help you reach a bigger market, cut your marketing costs, and give you a better ROI.