Change is a constant occurrence in the real estate industry. As new technologies emerge and economic trends continue to shift, every actor in the housing market needs to be flexible and able to adapt to a new landscape. For real estate agents, this adaptability is crucial to the long-term health of their real estate business. So what does the future hold for real estate agents? What is the reality of being a real estate agent in 2020 and beyond? And what is the future employment outlook for real estate agents? Keep reading as we provide you with detailed answers to these questions and give you an overview of the future of real estate agents.
The Future of Real Estate Agents: Where Is the Housing Market Heading in 2020 and Beyond?
Before delving into the trends that are specific to the future of real estate agents, we must first go over some general real estate trends. Here are some housing market predictions for 2020 and beyond.
- Property prices will keep on rising
- Appreciation rates will slowly increase
- Inventory will remain scarce
- Millennials will make up almost half of all underwritten mortgages
- Young professionals will drive demand for suburban single-family properties
- The digitization of the industry will continue at a rapid rate
- Interest rates will remain low
Overall, the housing market seems to be heading into a balanced state that is neither pro-buyers nor pro-sellers. But like everything in real estate, the trends vary widely from one location to another. With that in mind, let’s delve into the trends that directly affect the future of real estate agents.
The Trends That Will Affect Real Estate Agents in 2020 and Beyond
As it is the case with many professions, the future of real estate agents will be shaped by a number of emerging trends. However, pessimistic claims that agents will become obsolete within the next 5 years are off base, to say the least. In fact, the key to making money as a real estate agent remains the same: The ability to identify and adapt to major changes in the industry. Here are some of the main changes that you need to be aware of.
1- The importance of real estate video marketing will continue to increase
One of the new trends in real estate marketing is the shift to video. This trend will continue in 2020 and beyond. Additionally, agents who are yet to incorporate video into their marketing strategies will have a hard time staying competitive in an industry where video content is becoming paramount. As platforms such as Netflix and Youtube take center stage in modern media consumption, more and more sellers will be looking to exclusively work with agents who use video in their real estate marketing.
2- Online branding will be the key to a sustainable real estate business
Building an online presence is no longer just an interesting option- it is now necessary for the future of real estate agents. Agents who have spent years building their brands on social media and made efforts to increase their visibility on the net will be reaping huge benefits in the coming years. The reason for this is quite simple. The majority of property buyers and sellers are now turning to the internet as their first option when it comes to looking for real estate professionals. Needless to say, putting your brand in front of this large audience is the most effective way to generate leads for your business.
3- Agencies will become more reliant on automation
Automation is causing major disruption in a wide array of industries. While there are fears that it might replace several jobs, the use of AI, big data, and other advanced technology is beneficial to the future of real estate agents. There are several ways to incorporate automation into a real estate business, and large agencies have already begun the process of integrating it. For example, you can fully automate the lead nurturing process thanks to various Proptech solutions. To stay competitive in this environment, using automation and real estate technology solutions is imperative.
A good option to consider is Mashboard. This high-end platform is specifically designed to streamline the process of qualifying real estate leads and closing deals as quickly as possible. Using this tool will allow you to keep up with the latest real estate tech trends without incurring high costs.
Schedule a demo. Your future as a real estate agent depends on it.
4- Organic real estate lead generation is the way to go for new agents
Real estate lead generation can be done through various methods. One of the most affordable approaches is to rely on organic leads. As the industry becomes more competitive, entry-level agents will have to master the process of generating leads through various digital marketing techniques. Actually, agents can attract real estate leads by increasing user engagement on their site as well as its visibility on search engines. Here is how you can achieve that:
- Learning basic SEO techniques such as proper tagging and keyword distribution.
- Working with white hat SEO agencies to improve the site’s backlink profile
- Writing high-quality long-form content that compels readers to work with you
5- Green real estate is growing in popularity
Green real estate is here to stay. With health rapidly becoming the top priority for this generation, it is only natural that this trend is reflected in the industry. Since the future of real estate agents is dependent upon keeping up with such trends, it is important that you keep an eye on green homes in your area. In fact, the resale value of such properties will increase in the next few years. Going forward, consider prioritizing green homes in your business.
Is Real Estate Still a Good Career?
So in light of everything that we discussed in this article, are real estate agents dying? The short answer is no. In fact, the future of real estate agents looks fairly promising. Regardless of how advanced real estate tools and predictive analytics get, buyers and sellers will always turn to agents for professional guidance. As long as you remain adaptable to new trends, you will be able to generate a consistent stream of clients.