Real estate is in constant flux, and what’s trending in the industry for 2023 is no exception. From agents to buyers, professionals should all keep up with the latest in the world of real estate. But with so much information out there, it can be difficult to keep track of what trends really deserve your attention.
Reed Pirain will highlight below some of the most important real estate trends to watch out for in the new year. Whether you’re a seasoned real estate professional or just getting started, these developments are sure to have an important impact on business.
Growth of the Sharing Economy
The sharing economy has been gaining ground in recent years, and it’s likely that this trend will only keep growing this year. More people have started turning to short-term rentals for their housing needs, preferring the flexibility and affordability of these accommodations over traditional long-term rentals or home purchases.
As a result, real estate agents need to be prepared to work with new tenants and landlords who are entering the market through these channels. Additionally, more buyers and renters want to list their homes on platforms like Airbnb, so brushing up on the skills needed to effectively use these platforms should be a priority.
Increased Demand for Green Buildings
As concern over the environment continues to grow, we’re seeing more people seeking out properties that are built or renovated with green features in mind. This trend is likely to continue well into 2023 as both buyers and renters look for homes that promote sustainability.
As a real estate professional, this means keeping up to date on the latest green technology and techniques. Ensuring that as an agent, you can provide knowledge to clients about state and local regulations around green building is essential, especially considering that these regulations tend to change frequently.
Rise of Real Estate Artificial Intelligence
Real estate artificial intelligence is currently in its early stages, but it’s poised to make a big impact on the industry in the years to come. AI can be used for seemingly everything, from matching homeowners with ideal properties to helping agents manage their listings and clients more effectively.
With the various uses of AI in real estate, this is an exciting time in the industry. Understanding the various benefits of this technology will be essential as the industry continues to evolve.
Increased Interest in Co-living Spaces
Thanks to rising housing costs and a desire for more flexibility, agents are seeing an increasing number of people turning to co-living spaces. These are buildings or shared units that allow multiple tenants or homeowners to share a living space, often while also enjoying access to a variety of amenities.
As more people move into co-living spaces, real estate professionals will need to be prepared to help these tenants find the ideal units and manage any issues or concerns that may arise. Additionally, you may want to start including information about these types of properties in your listings so that you can attract those who are interested in this lifestyle.
The real estate trends for 2023 are likely to have a significant impact on the industry as a whole. By keeping an eye on these trends and staying up to date with new developments, agents will make themselves well-positioned to take advantage of all the potential opportunities they bring.