Editor’s note: In this two-part series, we take a look at how the buyer experience differs today from past years. Part 1 was a look back at how the process evolved to where it is now. Here, we review how tech has impacted everything, and the skills required to serve luxury-market clients.
Information overload. The term was coined by American political scientist Bertram Gross in 1964 in his book, “The Managing of Organizations,” but it was Alvin Toffler who popularized it in his 1970 book, “Future Shock”, describing the overwhelming pace of change and information.
It’s as valid today as it ever was for residential real estate professionals, if not more so. Who even heard of ChatGPT or AI not so long ago? Well, now they’re here, and here to stay. Funny thing though…with all the information, statistics and data available to homebuyer hopefuls, agents and brokers are as valuable as ever, needed to decipher the numbers and provide busy clients with the realities of today’s market.
Adjina Dekidjiev, a broker at Coldwell Banker Warburg in New York City, explains that while her role has always been a trusted advisor, with the introduction of AI and a lot of information out there from various sources, it has changed.
“Buyers need an agent who can interpret data for them and customize it according to their needs,” she says. “They’re often very analytical and metrics-driven. Unfortunately, data on various sites is often incomplete and outdated. An experienced agent can supply more relevant info than an algorithm.”
Each property is its own market, according to Dekidjiev, who is usually working with co-ops and condos.
“When deciding on what to purchase, running comparables isn’t enough,” she says. “It’s very nuanced. Agents need to have an in-depth knowledge of the building’s financial picture, layouts, red flags and neighboring air rights. For example, can a high-rise be built across the street? How does it compare to a property a few blocks away that’s the same square footage?
“NYC is unique. Buyers also have to contend with boards that approve pricing, renovations and financing. Websites that offer home pricing are often not accurate. They don’t take into account unique features, neighborhoods and renovations.”
Ivan Sher, founder of IS LUXURY, headquartered in Las Vegas, is focused on bringing the right people into his brokerage, while maintaining the culture and brand.
“That alone has shifted a lot of my time and attention,” he says. “More broadly, the last five years have brought a lot of growth and change. I have learned that real growth usually comes from resistance or discomfort. We evolve through taking a wrong turn, making a poor choice or being pushed in a new direction. I have had several of those moments, and they have made me a better businessperson. They have refined my craft and improved what I offer clients.
“Technology is another major change. AI is far more integrated into the real estate world than it was five years ago, and in a very positive way. It lightens the load of many day-to-day tasks that agents and staff used to handle manually. We can feed queries through platforms like ChatGPT and get instant, reliable results. It is easier to gather data without relying on a single source. AI also helps with marketing by creating messaging that speaks more directly to the exact demographic we want to reach. Most of this is back-end work, but it has streamlined operations across the board.”
Alyssa Soto Brody, co-founder of Powered by DMT, a luxury marketing and sales brokerage in New York, notes that clients interested in new development have also changed dramatically over the past few years.
“Today’s buyers are savvy and emotionally driven,” she says. “They’re not just purchasing a home, they’re buying into a lifestyle, a story and a sense of belonging. Our job is to bring that vision to life, from the earliest concept all the way through design, marketing and the on-site experience.
“Not long ago, a floor plan and a few renderings were enough to generate interest. That’s no longer the case. Now, the journey begins online, through immersive visuals, thoughtful storytelling and personalized communication. From curated WhatsApp groups to fully produced lifestyle films, we use every digital touchpoint to build an emotional connection to a project’s brand DNA. By the time buyers arrive in person, they’re not just curious, they’re already invested.”
The need for guidance
Sher posits that when the national portals became widely accessible, people started to question how important it really was to have an agent.
“Over time, what happened is that true industry experts emerged,” he says. “They became the people buyers rely on to help navigate everything that online platforms cannot explain. A buyer can easily look up the average price of a neighborhood online. What they cannot get is the context. They need someone who understands the nuances of each area, what is selling and why one home sold for 20% more or less than the one right next to it. The value today is in the expertise, not the basic information.
“There has been a major shift toward rewarding people who do an exceptional job at knowing their craft. The agents who coast are disappearing. There is no room for average or barely getting by. Growth comes from work ethic, leadership, tenacity and learning through mistakes. That is where real skill is built, and that is what clients gravitate toward.
“More than ever, the cream rises to the top,” he continues. “In the last five years, if you are not that person, that team, or that company, you do not make it. Buyers can handle the basic research on their own. They already know a lot about a property before they even call. What they depend on us for now are the nuances and insights they cannot get online, and the guidance that comes only from deep expertise.”
Satisfying wealthy clientele
The gentrification of some cities and creation of sleek, upscale developments in others has also required agents to ramp up their skills to meet the growing demands of wealthy buyers.
Jay Roberts, CEO of Prosper Group, which specializes in developing ultra-luxury waterfront and centrally located properties that define Miami’s skyline, explains that creating today’s ideal luxury buyer experience goes far beyond a beautiful residence.
“It’s about delivering a fully integrated lifestyle,” he says. “Design, service, technology and personalization must work seamlessly together, with wellness being a focal point as buyers prioritize balance, longevity and daily restoration.
“Today’s buyers place far greater value on branded developments than ever before. A strong brand now signals consistency, credibility and a clearly defined lifestyle, helping buyers feel confident in both the experience and the long-term value of their investment. They are no longer just purchasing a residence; they are buying into a name, a reputation and a standard of living they trust. The buyer pool spans the U.S., Latin America, Europe and beyond, with significantly heightened expectations ”
Sher has seen a dramatic shift in the evolution of Las Vegas, with a lot of wealthy clients relocating there.
“The city has grown up over the last five years,” he states. “We have benefited from the exodus of people leaving states that are not tax friendly and high-net-worth individuals who perhaps want a more moderate political climate. Since COVID, an influx of affluent buyers has moved into Nevada, especially Las Vegas. This has raised the bar for our market.
“Architecturally, design wise, aesthetically and in terms of quality, we have had to elevate what we offer to meet the expectations of buyers coming from Beverly Hills, the Bay Area, Chicago and New York. We have always had strong local quality, but today, the level of expectation and sophistication is much higher than it was five years ago.”
Thus, he asserts, agents must raise their games as well.
“You truly have to be the expert,” he says. “You must be the best at your craft and the best in class. Otherwise, you offer little value to clients in the luxury market here. Anything an average agent can provide is already available online, and if that is all you bring, you simply get in the way.
“What matters more than ever, even for the wealthiest individuals, is thoughtful, professional hand-holding. Even very rich people want someone they trust to guide them. You become the confidant and the reliable partner who takes the worry, the details and the day-to-day pressure out of the process. They have expectations, and your role is to help them achieve the results they are looking for.”
