Emerging technologies have drastically changed the process of the real estate industry. Innovations such as artificial intelligence (AI) and big data have made it easier for real estate agents and investors to sort properties and qualify leads in a fraction of the time. From marketing listings to viewing properties to signing contracts, these new technologies have significantly streamlined many real estate-related activities.
As a real estate agent, staying on top of these trends is critical to your success and how you interact with potential clients, particularly Gen Z homebuyers. Here’s what you should know about the connection between these new technologies and Gen Z homebuyers.
How all of these technological changes tie in with Gen Z homebuyers
According to the Institute of Business Management, nearly 74% of Gen Z spend their free time online instead of doing other activities. When broken down into what online activities they participate in, 73% use it to stay connected via text messaging and online chatting, 59% access entertainment and 28% want to learn new things or make more money. These responses demonstrate that their generation is deeply invested in improving themselves financially and personally.
Therefore, Gen Z consumers are in the know and have extensive peer-to-peer knowledge through shared research and experiences in buying, selling and investing in properties. Staying current with the latest technological capabilities could help you find more potential leads and clients.
For example, data and AI can help agents monitor which renters might be ready for homeownership through rental client management tools. As a result, it will be easier to see which renters can afford high rent prices, which can be a critical indicator that they might have the capacity to take on a mortgage.
Real estate agents can also host property tours through online formats such as YouTube, TikTok or Instagram. TikTok is the hottest social media platform with Gen Z consumers, so learning the ins and outs of this platform could help build your reputation as a local real estate expert and expand your business.
Along these same lines, developing a robust search engine optimization (SEO) strategy can help you make a presence online where digitally inclined clients start researching homeownership. This can help you cast yourself as the local expert they can trust to help them navigate the process.
Staying ahead of the competition
With the changing landscape of real estate, particularly the introduction of technology into nearly all aspects of the real estate process, staying ahead of the competition requires you to remain up to date with the latest news, industry trends and technology. This can help you find new ways to engage with potential clients and discover what strategies they are using to learn more about real estate and find agents in their area. Connect with real estate organizations that will provide you with access to exclusive reports about the changing facets of the industry and how you can use this information to advance your business.
As part of the Colibri Real Estate family of premier education brands, McKissock Learning helps hundreds of thousands of real estate professionals each year achieve sustainable success throughout each stage of their career via continuing education and professional development courses.
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