We’ve all known that it’s only a matter of time before the more tech-savvy generation becomes the majority of the real estate clientele. In about 12 years it is estimated that approximately 75 percent of real estate clients will be millennials. This is indicative of the fact that we need to improve our real estate technology; it needs to be fast, responsive and mobile friendly. Real estate agents that start adapting new methods soon will have the upper hand.
The real estate profession is generally behind when it comes to how research is done and the tech tools available. There are a few sites and apps, like Trulia and Zillow, but they’re still not advanced enough, particularly in the the luxury real estate sector.
App development in this field is gaining popularity as it becomes more apparent that there’s a need that isn’t being met. A platform, ResiModel, recently added a feature that identifies rent trends based on floor plans, it also has the ability to share local deals. Also, many brokerage firms are starting to partake in the creation of apps with advanced tools and data accumulation methods.
For Jack Elkins, the first step is creating a new website that is interactive and meets more of their clients’ needs. The website is still in the creation stage, but it will be rolled out in the next few months, but it’s certainly going to be unlike any other. After that, we’ll see what other platforms we explore.