The real estate market is a resilient and rapidly growing sector, but it’s constantly changing and adapting due to the impact of numerous economic, political, social, and geographical factors. As a real estate consultant, it’s essential to closely monitor market trends in order to navigate challenges and maximize opportunitie
What are some of the main indicators in the current panorama that you should follow closely in your daily work? Find out about six major trends in the behavior of those looking for a home to buy or rent.
1. Mostly search online
Currently, consumers are almost exclusively searching for their next home (whether for living, vacation, or investment) online. As a real estate consultant, it’s important to be aware of the trends regarding what is valued in a property listing: photographs, videos, and virtual tours.
There is a high level of interest in an increasingly immersive and close-to-reality experience when searching for homes on websites or social networks.
2. Prioritizing space and exteriors
We live in a post-pandemic period in which the marks of the daily readjustment that families have had to make in all areas of life are still very much present. In fact, they’re here to stay!
With confinement, consumers have taken more seriously the need to have a comfortable home, with a cozy atmosphere, more (and larger) rooms and outdoor spaces.
The proliferation of teleworking, driven by the pandemic but clearly seen as a permanently viable option, has reinforced this trend. Those looking for a home have come to favor properties that adapt to the typical domestic and family reality, but also to the leisure and work spheres.
Families appreciate the assistance of a real estate consultant who presents them with homes featuring balconies, terraces, gardens, and an open space concept indoors. These spaces provide a greater sense of freedom as well as great versatility in use.
3. Interest in peripheral and rural areas
The significant rise in rental prices and home sale values has clearly sparked interest in the outskirts of cities, both suburban and rural areas. After all, in these areas, it’s more likely to find a good number of available properties, which are also larger and more affordable. Many families can afford houses in excellent condition (or in need of not too expensive rehabilitation) at the same price as small apartments in cities.
The influence of remote work and the appreciation of spacious homes with outdoor areas are also primary factors for this reality. As a real estate consultant, you would do well to acquire properties in the outskirts for your portfolio, aiming to address one of the biggest trends in the sector today.
4. Adjusting the concept of luxury
Today, what is meant by “luxury real estate” is changing considerably. In fact, the term means different things to different consumers.
For buyers with greater economic capacity, it’s no longer enough for a house to be expensive and ostentatious to be seen as a prestigious choice. Luxury is now understood as the opportunity to live unique experiences, fulfill desires, and have as much quality of life as possible. Therefore, the amenities and functionalities of the home, as well as the surrounding areas, become more important.
By the same token, consumers with a more modest budget consider a home that provides them with a privileged and differentiated daily life to be a luxury option.
5. Focus on sustainability
In your day-to-day work as a real estate consultant, you’ve probably noticed that one of the most widespread trends in the population and in organizations has also spread to the search for a home: sustainability.
There’s a greater concern about the use of clean and renewable energies and the reduction in water, electricity, and gas consumption, which also translates into monetary benefits
Indeed, many properties are now being built or renovated with a focus on sustainability, particularly in the preservation and maximization of natural resources. More durable and environmentally friendly materials are being used, and household facilities (such as electrical, plumbing, and technological installations) are designed to save energy and enable more efficient use.
6. Demand for smart homes
The trend towards smart homes, equipped with useful technologies for daily routines, is aligned in many respects with sustainable bets, but also in the context of a search for more comfort and facilities.
A multi-skilled real estate agent should strive to find properties of this type, which significantly improve the lives of the inhabitants by simplifying or automating domestic tasks. There is a wide range of amenities available in terms of energy efficiency, security, climate control, lighting and digital connectivity.
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