5 Real Estate Trends to Watch in 2017

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Checked in with all my major sources and here’s what I’m predicting we’ll see more of next year:

1. Drones will get more popular in real estate in 2017 (Source: MarketWatch)

“Location, location, location has now become perspective, perspective, perspective,” said Steve McIrvin, chief executive of Autel Robotics USA, a Bothell, Wash.–based drone manufacturer. “If you have a property [to sell] with more than an acre of land or a unique perspective, it’s a good reason to bring in a drone.”

  • Expect to see more real-estate agents use drones to do live postings to social media. It’s a new way of interacting with clients and buyers from all around the world.
  • Drones are also becoming a tool for home buyers e.g. in Seattle, buyers are skipping the home inspection because the market is so hot, but that doesn’t mean they can’t get a drone to inspect a home’s roof, ensure that a chimney doesn’t have cracks, or circle the house if access isn’t available.

2. Snapchat becomes the single most powerful conversation pipeline for real estate agents (Source: inman.com interview with Chelsea Peitz, AVP Fidelity National Title)

  • Real time marketing is becoming the status quo, like having a website was 10 years ago.
  • Marketers are finding that when they leverage “real time” content that disappears, their audience really starts paying attention.
  • In five years, Facebook content will be mostly video. Over the last year, Snapchat has earned 10 billion video views (a 350% increase from 2015).
  • Snapchat is a medium that will train you to communicate with consumers in the way that a 2017 world demands. The platform is a conduit to improve your communication and a channel to help you stay relevant and visible in a crowded business.
  • And big shout out to Dustin Brohm in Salt Lake City for being one of the first to successfully use Snapachat for his real estate business.

See below for “surban living“, hot midwestern cities and the not so good news on commissions.

3. Surban Living: A suburban area that has the feel of urban, with walkability to great retail from a house or apartment

Surban living makes it possible to walk to work, like in a city, as well as enjoying pedestrian access to groceries, entertainment and youth- and sport-friendly parks — plus reliably strong public schools.

Examples of Surban areas include: Reston Town Center in Washington, DC,Downtown Naperville, Illinois, in the suburbs of Chicago, Old Town Pasadena, California, in the suburbs of Los Angeles, Legacy Town Center in Plano, Texas, in the suburbs of Dallas, Santana Row in San Jose, California, on a former run-down mall site, City Centre in Houston, Texas, on a former run-down mall site

4. Midwestern cities get more attention from millennials (Source: WaltonSun/Realtor.com)

Strong affordability in 15 of the 19 largest Midwestern markets make them a millennial magnet in the coming months and years ahead.

Per Realtor.com, the following metros have an average millennial market share of 42% or higher: Madison, Wisconsin; Columbus, Ohio; Omaha, Nebraska; Des Moines, Iowa; and Minneapolis, Minnesota.

5. Real estate commissions will continue to fall. (Source: Redfin)

Most people who sold a home in the past year got a discount on the commission they paid to their broker, and so did almost half of buyers. Redfin projects that as a growing number of disruptive companies offer new, money-saving ways to buy and sell homes, even more consumers will save on real estate fees in 2017.

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