While implementing your strategic action plan to actualize your Fall 2019 real estate goals, now is also the time to consider your strategic real estate planning for 2020.

To help you focus on and consider soon-to-be-here 2020 business tactics, CoreLogic just published its key trends in real estate for the coming year. Along with the perennial issues of marketing communications, blockchain and MLS-brokerage consolidation, check out these highlighted trends from CoreLogic:

  1. iBuyers and Platforms
    1. In its Special Report on Investor Home Buying, CoreLogic determined that the investment rate in iBuying reached 11.3% of the total home buying sector during 2018. This is the highest rate of investment in iBuying ever. And it’s not just major investment players driving this market…”mom and pop” investors increased their investment rate from 48% in 2016 to 60% of this market in 2018.
    2. Investors are buying and building platforms to scale and monetize all aspects of real estate transactions from iBuying to mortgage origination, title and escrow, insurance, utilities, home improvement and maintenance. All of these “ancillary” services and platforms enable iBuyers to accept narrow resale margins due to revenue earned from these transactional models.
    3. CoreLogic recommends that brokers respond to this trend by developing strategies that provide equal if not more convenience and certainty to consumers.
    4. CoreLogic recommends that MLS leverage public record data so agents can continue to be “the premiere source of comprehensive data” in their respective local markets.
  2. Artificial Intelligence
    1. AI or predictive analytics in real estate will only become more ubiquitous and far reaching.
    2. Already, AI can predict which homes are most likely to sell and at what price.
    3. Already, AI is making image recognition more accurate and detailed than usual searchable fields.
    4. CoreLogic recommends that agents/brokers who leverage AI technology will have an advantage over agents who do not take advantage of this technology.
  3. Virtual Tours and Augmented Reality
    1. CoreLogic believes that the future of real estate is in videography and augmented reality.
    2. Matterport already creates and offers 3-D property models for potential buyers.
    3. HomeVisit already incorporates 3-D models for high-end videos for virtual property tours.
    4. CoreLogic believes such technology will become the standard for online real estate marketing.
  4. Standards and Data Flow
    1. By opening up data access for brokers, tech providers and consumers, CoreLogic is looking for aggregated MLS data to power all of these relationships.
    2. Security and consumer privacy are big issues here. All real estate players must assess risk, remediate issues and proactively monitor and innovate solutions to protect personnel practices, physical security, policies and procedures, legal agreements and all technology.
    3. CoreLogic recommends that ALL real estate players get an independent security audit BEFORE hackers target real estate entities. CoreLogic considers such security audits as being cheap insurance in today’s world and beyond.

Claim Your FREE Real Estate Treasure Map!

RELATED ARTICLESMORE FROM AUTHOR