What is the next big thing to change the real estate industry? A billion dollar question, right!? We all know the last major evolution was a big deal for almost every industry, the internet. Probably a bigger deal in real estate than other industries, the internet brought the real estate market to consumers’ finger tips and forced the real estate world to reinvent itself. Specifically, it changed the way consumers search for homes.
So what will be the next item that will change the real estate landscape? The way we look at listings is definitely changing. Virtually staged photos, virtual tours, videos, 3D touring, all of these items are new or significantly improving. It will be exciting to watch this visual medium unfold.
Inside the industry itself we are seeing a push for paperless and electronic platforms in almost all aspects of real estate; ie, file storage, file sharing, electronic document signing. All items that can help our industry go green, but also alter the company’s bottom line. This may impact the actual brick and mortar infrastructure in our industry as well. Easy access to files from anywhere may mean smaller, more intimate real estate offices.
I would also keep my eye on the big search engines like Zillow, Trulia and Realtor.com. These giants will have a major effect on the virtual real estate landscape. There are exponential ways these major players can impact our industry, as they already have. It will be exciting to see this game play out!