Real estate technology is changing with the help of millennials
While most other industries are evolving, real estate has, for the most part, remained pretty stagnate until recently. The 71% of millennials looking to grab their piece of the American Dream, and with the overlap of the technology sector, has allowed for a large shift in real estate technology.
Below are just a few ways in which millennials and technology have helped reshape the real estate industry.
More analytics to predict real estate trends
The ability to predict buying trends amongst potential homeowners has been one of the largest booms in the real estate technology sector. According to Inc.com, “It takes a lot of work to compile historical data, trends and predictions for the future in a way that is useful for potential investors. It gets even tougher for individual investors when trying to get data on short-term rental potential. That’s why we created a platform to help give people that information in a customizable format.”
Changing real estate professionals’ perceptions
Nine times out of ten, many real estate professionals would probably assume that any millennial looking to purchase their first home is likely going to be looking in a robust area with shopping, nightlife and entertainment. However, a study by PWC found that between the years of 2013 and 2014, millennials were looking to buy in the suburbs as opposed to cities. “Millennials are also changing the way people think about real estate in cities. Despite common perception, millennials are not all city center types looking to live in high-rise downtown apartments,” per Inc.com.
Customization is a necessity, not an option
Most new home buyers are looking for move-in-ready properties and those with the most updated amenities known to man. Millennials, especially, are looking for all the bells and whistles, and real estate professionals have had to reevaluate. Inc.com says, “Millennials are known for being a generation with high consumer expectations and a drive for personal actualization. The home is not excluded from these pursuits, which is why there has been an increased focus on providing top-tier amenities in new housing developments and construction.”
Let SnApp allow you to cater to the millennial audience
If you’re looking for a real estate mobile app development company that will work with you and help you cater to millennial homebuyers—we have you covered. Here at SnApp Real Estate, we are an experienced real estate mobile app development company that promises to build you high performance real estate mobile apps. Our apps will help you streamline your business and connect with clients easier, not to mention they are truly affordable.