What do technology, millennials, and the internet all have in common? If you said that they’re drastically changing the landscape of the real estate industry, then correct!
And for those of you who haven’t caught on yet — it’s time. Technology has thrust its way into a rather traditional industry, which has seen little variation over the past few years. Industry leaders are just beginning to harness technology and realize its potential — especially when it comes to buying, renting, and investing. This series will cover three technology trends as they relate to the world of real estate:
As we explore with this series how the landscape of real estate is shifting, keep the millennial factor in mind. Millennials carry quite some weight in this industry. They are the renters and the industry leaders of today and tomorrow, not to mention a sought-after generation for marketers. They’re also brand-centric, tech-savvy, and peer-reliant when it comes to product referrals or real estate.
Millennials & Multifamily
Specifically in the multifamily industry, realtors are quickly realizing that millennials would rather text than talk during the home buying process, that they research extensively on their smartphones, and that they need community-based, amenity-rich properties to keep them satisfied. Their expertise in technology puts them at the forefront of this real estate revolution — get the millennials engaged and you have a large, loyal, and vocal audience to build your brand. On the development side, new tools are making it easier to invest, consolidate, and connect.