“Buyers decide in the first eight seconds of seeing a home if they are interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds.”-Barbara Corcoran
No doubt, the real estate market continues to see a rising boom in the industry. So much so that the market continuously evolves in order to keep up with contemporary and yearly trends. In this year, it has been reported that buyers would have more leverage seeing as the housing supply would finally be able to catch up with their demand. Moreover, we can see a lot more young professionals, adults and even millennials looking to break out of their family nest and establish a life of their own by having their very own flats.
In this regard, real estate agents will have the equally unique and challenging task of transforming the market as well as be more responsive to their clients’ needs. Regardless of whether you are dealing with a buyer who is bent on buying a new home with the lowest price possible or a seller looking to fetch the best asking price for his property in arca south taguig, it is your job to adapt. And adapt well, you should. After all, if you wish to stay relevant in the industry, you need to be knowledgeable about the trends of 2018 and be flexible enough to adequately respond to the ever increasing demand for real estate.
In any case, here are some of the trends you can expect to meet and hurdle this year:
- Co-living and community-driven spaces
Today, a new trend in tenancy has seen a rise in co-living and community driven spaces as the multifamily industry progressively becomes more and more popular each year. Moreover, it will significantly impact the industry in such a way that it would seemingly reflect a new breed of renter wants and demands.
- Short-Term Rentals
With the growing popularity of short-term rental websites such as Airbnb and the like, homeowners have taken it upon themselves to lease out their unused vacation houses and properties for a short period of time. While this gives a unique edge to large property owners or single family owners, it presents quite the predicament for realtors. In this regard, one must know how to adapt seeing as priorities have now shifted.
- Fractional Investing
Today, peer-lending and crowd funding gain significant traction in mainstream attention, individuals who are looking for a bit more diversity and passive investment avenues will seemingly engage in fractional investing. Over the past few years, there have been legitimate startups that were enough to innovate and the year after could potentially lead to individuals veering away from sole ownership to fractional ownership instead via crowd funding.
- Smaller Living
Mobile living is the way to go this year. With tiny apartments and diminutive housing alternatives, more and more people have ridden into the mobile living trend. In fact, this has been seen as a unique solution to increasing housing density in areas gripped with overpopulation. Major cities and large metropolitans can definitely benefit much from this. While the effect would not be that much significant in 2018, it will become more apparent over the next coming decade.
- The Rise of the real estate investor
Today, real estate investors have seen a meteoric rise. Seeing as the stigma around the average real estate investor seems to have faded with the recession, the rise of the corporate/national real estate investor is happening as well. The niche today has become more competitive, digitized and recognizable.