For many realtor, real estate software can help to make the process of showing and selling homes as simple and effective as possible. From cloud stream to cma tools, real estate software can increase the overall productivity of a real estate agency.
This increase in productivity is necessary as the housing marketing is currently coming out of a slump. In fact, the home ownership rate in the United States is the lowest that it has been in at least fifty years, according to statistics for 2016. Fortunately, however, some progress has been made since the housing crash that occurred in 2007. This is seen in the fact that the median price of a home in the United States has risen from just over one hundred and seventy five thousand dollars to more than two hundred thousand dollars in 2017. By February of 2018, the median price of a home in the United States was more than three hundred thousand dollars. This positive trend in housing prices means that real estate software will become more necessary in order for real estate agents to stay on top of all of their clients.
Many of the clients that a real estate agent will see in coming years will fall into the Millennial or Gen Y generation. These two generations made up more than thirty percent of home buyers in 2017 alone and are expected to make up a higher percentage of home buyers in the years to come. Real estate software such as CMA comparative market analysis will be particularly important when selling homes to these generations, as they are often fully enmeshed in the technological world. More than half of home buyers aged thirty five or younger first looked at their home online before they bought it or saw it in person, after all. With more and more people conducting initial research online, having real estate software to meet that demand is necessary for any real estate agency that wishes to thrive.
Real estate software must also reflect the needs of prospective home buyers. For instance, the vast majority (up to eighty percent) of residential growth is expected to occur in primarily suburban communities. Therefore real estate agents will need to meet this need and market themselves appropriately. It is also important for the average real estate agent to understand that more and more properties are being purchased with investment purposes in mind – up to twenty percent of all properties sold in 2016 were purposed for investment purposes.
The real estate industry is growing and changing and implementing real estate software will help real estate agencies and individual realtors and real estate agents to keep up. As technology continues to develop, more and more prospective home owners (namely, Millennials) are likely to use it as part of their search for a home or an investment property.