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Emerging Challenges and Opportunities in Sales

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01 Emerging Challenges and Opportunities in Real Estate Sales

Table of contents Whitepaper

Blurring boundaries between life and work 12

Emerging technology 14

Need for experiential marketing 16

Expanding real-estate portfolios 17

Integrated marketing and thought leadership 19

New paradigm for marketing 22

Niche real estate marketing 23

Building realtor brands 25

Summary of findings 27

References 28

02 Emerging Challenges and Opportunities in Real Estate Sales

Abstract

The aim of this whitepaper was to conduct a thorough review of academic, business & popular resources to come up with the latest evidence-based strategies that real estate professionals could apply to accelerate their business growth.

03 Emerging Challenges and Opportunities in Real Estate Sales

Executive summary

Surprisingly, although modern technology, social platforms and lifestyle changes played a massive role in driving real estate marketing, a human approach was the primary driver for realtor growth even as technology is becoming ubiquitous.

04 Emerging Challenges and Opportunities in Real Estate Sales

This whitepaper aims to synthesize evidence based strategies through in-depth literature review of secondary sources such as academic databases, open-access research, online forums, blogs and websites.

Ten years ago, the US housing market boomer generation gives way to a bubble collapsed. People started losing largely post-millennial population on their homes as values both sides - agents as well as crashed and homeowners went buyer-seller markets. In fact, millenials bankrupt. Today, the demand for are the most significant client Executive housing has risen again but new component of the real estate industry summary homes are in short supply. According as they begin buying first homes to a study by the US Department of significantly later than their parents’ Housing and Urban Development, the generation did historically. As per current demand for housing is ten PwC1 forecasts, investable real estate times higher than the number of newly will grow by more than 55% in 2020. constructed homes on the market. The end-goal is to provide a Closely monitoring the economic, comprehensive overview of effective commercial and industrial sectors of marketing strategies that realtors can the U.S market can help realtors use to grow their business in the understand how buyer behaviour is current global and local context. Digital impacted by contemporary marketing resources used include websites such strategies. The real estate industry is as PwC, National Association of currently undergoing a significant Realtors (NAR), LCP360, Forbes, The transformation as the last of the baby Close, G2, Medium & Realty Times.

05 Emerging Challenges and Opportunities in Real Estate Sales

Background

As home prices rise, the average population struggles to find affordable housing in mid-large cities. Even in suburban neighbourhoods, realtors can harness professional insights, positive customer experiences and professional credibility to drive sales.

06 Emerging Challenges and Opportunities in Real Estate Sales

We are no longer in an era where direct mail and door-to-door solicitations12 are the goto strategies for on-boarding real estate clients. This is especially evident in the real estate in four areas: housing, retail, investment and luxury markets.

According to Jeff Korhan, the author of towns of America are being priced-out 'Built-In Social: Essential Social of the market as realtors and builders Marketing Practices for Every Small focus on luxury markets. Business', the convergence of social platforms, economic transformation as Not only are people being priced out of Economic transformation well as the continuous evolution and urban neighborhoods, previously ‘rural’ usage of technology have led to a locales are now full-on neighborhoods perfect storm for positive disruption in offering ‘starter homes’. Most of these real estate marketing practices32. are still out of the reach of the average millenial population3. As the search for Economic transformation a home takes longer, home values are As per the National Association of steadily creeping up. Consequently, Realtors (NAR)2, the U.S economy is sellers are trying to balance high listing less likely to face a recession in the price with time on market (TOM)16 and year 2020. buyers are looking for that provide the best value for money. Cities like San Francisco and New York Sellers will wait for better offers but have always been notorious for buyers will see unsold properties as skyrocketing property prices. However, defective resulting in negative herding as property values rebound, even and lower sale price. people in mid-sized but fast-growing

07 Emerging Challenges and Opportunities in Real Estate Sales

Strategies like SEO marketing, content creation, visual storytelling and video marketing are instrumental in helping realtors market to the right audience. Content strategy is crucial in determining how potential clients perceive realtors.

Social platforms Social dynamics also play a vital role in Key Insights: helping homebuyers finalize a property. Systematic, empirical evidence for the The study presented by Stroeble underlying mechanism is limited but highlighted two main findings Social some of the more recent studies have that are relevant to real-estate platforms revealed that social platform content sales: from friends and family does, in fact, Individuals talk about property impact property purchasing decisions. investments with friends

Recent research by Bailey, Cao, Kuchler Social interactions influence 4 and Stroebel focussed on Facebook, individual-level housing the largest global social network. They investment decisions assessed demographics, anonymous snapshots social graph of friendship Social interactions also links and county-level locations and impact purchasing behavior found a strong positive correlation and aggregate prices between social influence and beliefs about property purchasing.

08 Emerging Challenges and Opportunities in Real Estate Sales

Smart technology is rapidly disrupting real estate. Realtors that fail to integrate technology into their marketing are missing out on opportunities. This applies to all aspects of real estate sales from client experience to sales cycles.

Evolution of Technology Just like with other professions, as As technology evolves to proliferate more realtors establish ‘credibility’ our work and personal lives, through content, those with specialist forward-thinking realtors are and entrepreneurial skills will be able to harnessing the power of technology40 grab key opportunities faster. Evolution of to tap into the psyche of audiences Technology across retail, residential, luxury and Hyperlocal marketing6 is the new investment real estate markets. digital community-building hack. Realtors looking to succeed are Borrowing concepts from the larger zooming in on specific locales before marketing world, successful realtors landing and expanding to larger are focusing on the experiential markets. aspects of the real estate sales process. Within the investor market, redefining property utility with proactive Tech companies5 focus on saving use-driven analysis has resulted in an costs which directly leads to tech increased value among foriegn employees spending less. This investors.7 mindset impacts their home buying behaviour as they opt for affordable Buyers8 are willing to put in extra funds properties. for added amenities.

09 Emerging Challenges and Opportunities in Real Estate Sales

2019 Real-Estate Market Analysis

Housing affordability Changing Workplaces Population shifts Smart technology

As a consumer-driven market, real estate sales can be difficult to crack. This year, however, realtors in the US did particularly well. As per NAR9, compared to the first quarter of 2016 where 500,000 units were sold, the *first quarter of 2019 observed a sale of more than 700,000 units. In the *first quarter of 2019, there was high confidence among property buyers. Consequently, this last quarter will also see an upswing in successful property deals. As a result, new home sales are still going to be in good stead by the end of 2019.

*For more information see the emerging trends section.

10 Emerging Challenges and Opportunities in Real Estate Sales

Emerging trends

1. Blurring boundaries between life and work

2. Emerging Technology

3. Need for Experiential Marketing

4. Expanding Real-estate portfolios

5. Integrated marketing and thought leadership

6. New paradigm for marketing

7. Niche real estate marketing

Retail Residential Luxury Investment

8. Building Realtor Brands

11 Emerging Challenges and Opportunities in Real Estate Sales

1. Blurring boundaries between life and work

Rise of 18-hour cities and suburbs10

Challenge

Millennials, now in their mid-30s, are looking to the suburbs for affordable housing. The U.S. Census Bureau reports that over 2.6 million people moved to the suburbs from principal cities in 2017. The prevalence of these ‘18-hour cities’ or talent hubs across western cities as well as mid-large towns in the country indicates that there is a growing segment with housing needs that are currently unmet.

Opportunity

These cities witness higher than average urban population growth and considerably lower cost of living11. With robust public transportation, infrastructure, a strong economy and moderately priced housing, these cities are great for realtors looking to tap into the millennial housing market.

Shifting workforce

Challenge

As baby boomers retire, there is a generational shift in the realtor market. As younger agents take over, they are compelled to establish expertise by offering qualifications, field experience and real-estate expertise. Persuading clients is no longer as simple as it used to be. Today, realtors need to build a solid inventory of offerings before they reach out to clients. As the workforce changes, so are client expectations of the level of professional value, research and support they expect from realtors.

Opportunity

Specialized inventory allows realtors to add immediate value to the buying-selling conversation. In the past, realtors relied heavily on referrals for growth with nearly 62 percent13 of referrals being personal, business contacts or past clients. Today, you need much more. A well-defined target market, a clear marketing plan and an affordable team is essential if you want to research prospects build relationships with clients.

12 Emerging Challenges and Opportunities in Real Estate Sales

The DIY mentality

Challenge Opportunity

Around 92 percent14 of US homes used For agencies and realtors alike, the to be sold by a . ability to update portals like Zillow will However, this number is rapidly be directly proportional to their sales in declining due to the proliferation of 2020. Internet listings can only offer online portals and media. People want properties as per buyer request. A to save time and agent commission by realtor can add real value if they offer managing the transaction directly. multiple solutions that complement Newer research shows that nearly 50 such portals from loan calculation percent of buyers found homes advice to neighbourhood preferences through the internet15. Only 28 percent and convenient home tours. engaged an agent. Competitive realtors will need to find a way to leverage online portals.

13 Surprisingly, although modern technology, social platforms and lifestyle changes played a massive role in driving real estate marketing, a human approach was the primary driver for realtor growth even as technology is becoming ubiquitous.

Emerging Challenges and Opportunities in Real Estate Sales

2. Emerging technology

Virtual staging

Challenge

As per the NAR17, 81 percent of buyers can imagine calling a space ‘home’ when they see it staged virtually. No doubt, in-person home staging helps realtors to make the buying or selling experience richer. However, for those strapped for money or with clients who live far away, virtual staging is a fantastic option. Home staging costs nearly $1,000 to $5,000.

Opportunity

Virtual staging can reduce costs to $100 - $300. A study conducted by LCP 36018, a popular digital resource for realtors, virtual staging can slash costs by 97 percent. With staging consultation fees on the rise, cost-conscious realtors are extremely interested in digital tools to help streamline staging. From a client’s perspective, virtual home staging can cut down on transportation costs and offer greater convenience.

Challenge

The LP36019 study also mentioned that most people make a judgment about a property within 7-10 seconds of viewing. For realtors, it can be a tall order to convince someone to make a transaction in such a short time. As with any sales, the key lies in understanding your customer.

Opportunity

Trending decor, bright colors, rose-gold appliances. Great decor is one way to grab attention. Another way is to offer eco-friendly options for the ‘green’ buyer. The best way is to understand what your customer needs. Understanding your target client is the singular most powerful factor.

14 Emerging Challenges and Opportunities in Real Estate Sales

Video-based marketing & Drone photography

Challenge

Video creation and drone photography are new tools in the realtor’s arsenal. The average realtor is still trying to figure out how to incorporate these tools into their marketing. However, these are powerful tools. Contrary to popular opinion, these technologies can actually help realtors save money over time. If used well, they could help realtors grow their business faster.

Opportunity

Drone photography is a cost-effective way of impressing clients. Nearly 40 percent20 of prospective buyers rely on virtual videos while prospecting. Distribution via mobile devices means that your audience can move closer to the deal - with little effort from your end! For realtors struggling to manage technology, hiring a marketing team can be a practical solution.

Use 3D Matterport cameras

Challenge

Sometimes, realtors simply don’t have the time, expertise or money to use drone photography to capture clear and crisp images of the property. Ambiguous or unclear property pictures may actually negatively affect homebuyers’ decision of buying a property. For realtors looking to capture minute details of the property, 3D Matterport cameras21 offer a unique solution.

Opportunity

3D Matterport cameras create a three-dimensional model of the property. Once the scan of the property is complete, it is uploaded for clients to ‘walk-through22’ the property from their own computer. Realtors can use it to show multiple properties at once without ever leaving their office. As per Matterport23, properties with 3D virtual tours get 95% more phone inquiries.

15 Emerging Challenges and Opportunities in Real Estate Sales

3. Need for experiential marketing

Experiential marketing

Challenge

As per G224, a peer-to-peer review site, 74 % of respondents said they would purchase products that are promoted at live events. Would this work on a high-ticket ‘product’ such as property? Our research revealed some surprising insights on how experiential marketing25 is being adapted into real estate sales.

Opportunity

Experiential marketing strengthens realtor networks with minimal traditional advertising. Research also suggested that 70 percent26 of users become regular customers after finding a brand at an experiential marketing event. This number may actually rise as customer experience overtakes price & product as key brand differentiators!

Building networks via experiential marketing

Challenge

Experiential marketing does not have to be limited to the property or site alone. Many realtors are offering learning experiences to overcome the challenge of engaging audiences in a particular area. This works especially well for realtors who specialize in a niche market and are looking to breakthrough that niche in a particular locale.

Opportunity

Hosting an event and inviting locals to come and share insights about property buying and selling is a great way to start building a professional network. While some of the people you ‘educate’ will become direct customers, some will simply pass on your name to others as a way of ‘indirect’ referral. Either way, sharing your expertise is a great way to connect with potential clients.

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4. Expanding real-estate portfolios

Extended amenities

Challenge

As per NBM&CW27, an infra construction and equipment magazine, properties with extra amenities will be in huge demand in the upcoming decade. Since high-level amenities incur additional costs, realtors will face the challenge of justifying climbing property prices. A larger part of realtor success will depend on how they branding themselves to offer ‘add-on’ amenities to justify the additional costs.

Opportunity

A recent study by PWC (PriceWaterhouseCoopers), a professional services network revealed that the demand for robust amenities is crossing beyond the fitness center and recreational areas. Many buyers look for pet concierge, curated gardens for fresh produce & even separate entrances for staff. For the savvy realtor, this is an opportunity that can be leveraged to increase sales - with the right brand message.

Amenities in corporate spaces

Challenge

With the changing workforce, businesses recreating residential spaces for corporate use. An increasing number of properties offer multi-purpose amenities. Realtors with access to co-working style spaces will be at an advantage if they offer extra amenities with add-ons like access to cooking or yoga classes.

Opportunity

By offering complimentary lifestyle benefits within a property, realtors can leverage extras like fitness centers, gardens, eco-friendly spaces & corporate seating areas to increase the perceived property value. Realtors may be able to negotiate properties with higher price-points if buyers are asking for additional amenities

17 Emerging Challenges and Opportunities in Real Estate Sales

Realtor as entrepreneur

Challenge Opportunity

Realtors interact with hundreds of Simplifying your operations, marketing clients a week. Keeping track of a real and data management can make it estate business can be a challenge. As easier to run a . more realtors strike out on their own, Without a system in place, realtors are improper management may lead to tied up with administrative details and unhappy clients. Managing little time to focus on growing their administrative stuff while coordinating business. Finding a way to manage all site visits can be both time-consuming the tasks that make up your real estate and frustrating - so organization is key. practice can be critical to the expansion of your business.

Key Insights:

Ideas for real estate entrepreneurs:

DJ party at the property Private dinners with local chefs Influencer mixers Holiday staging

18 Emerging Challenges and Opportunities in Real Estate Sales

5. Integrated marketing and thought leadership

Participate on social media

Challenge

There may be a thousand ways to succeed on social media but as a realtor you may not have the time to figure out which one is the best for your business. According to Hubspot28, only 22% of businesses are satisfied with their social conversion rates. This is because conversion relies heavily on engagement. As a realtor, it’s essential to respond quickly to client queries,start conversations and offer insights - even out-of-hours and during holidays. Also, be prepared to answer all kinds of questions your client may ask and gather important details and knowledge about everything you claim. Rather than claiming that you know the solutions to your audience's problems, realtors should offer insights from their experience. The purpose is to educate and engage with your audience.

Opportunity

The marriage of real estate and social media is a powerful one. Using social tools like Facebook, Instagram and LinkedIn to share neighbourhood insights, inspection tips and other value-adding content can help you establish authority. Every platform is different and the way you use each one will depend on your audience. Platforms29 like Facebook (97 percent), Instagram (39 percent) and LinkedIn (59 percent) are the top picks among realtors for pitching their niche real estate deals. For realtors, participating in social media groups, curating content, sharing original content with the end goal of arranging face-to-face meetings. Instead of wasting time figuring out social media marketing strategies, you can also hire marketing experts to point you in the right direction.

Key Insights:

Drive engagement with these 3 questions:

What excites your audience?

What do they expect from a video?

How do they find the content they like?

19 Emerging Challenges and Opportunities in Real Estate Sales

Key Insights:

Ace your social media marketing strategy:

Use eye catching property pictures Create headlines with digits Integrate client testimonials Establish a sense of urgency Showcase success stories Showcase benefits majorly Post achieved milestones Use HD lifestyle images Industry & market news Have a compelling CTA button News listings & properties Post infographics Offer home tips Answer questions on forums

Content Strategy

Challenge Opportunity

As per Hubspot30, 81% of B2B Real estate professionals need to companies use blogs as a content monitor what kind of content they post marketing tactic. This could be on their social media handles. Content surprising for most realtors if they are needs to be crafted by keeping the unfamiliar with any online marketing realtor's buyer-seller audiences in mind. strategies for their real estate business. Here are a few questions that can help Content marketing gets three times you figure out what type of content to more leads than paid advertising. create:

What buyer-seller markets do I want to target? Key Insights: What brand message do I want to share with them? Content that makes a good sale: What information does my Discussion of client problems audience already want?

Tips to overcome How can I add value online that will buying/selling challenges help me increase my credibility?

Trending solutions to How can I start conversations resolve issues instead of putting up 'salesy' content?

20 Emerging Challenges and Opportunities in Real Estate Sales

Hire professionals to accelerate growth

As you grow your business, there will come a time when you may not be able to do everything yourself. You need to delegate in order to grow but hiring people is an expensive affair. An affordable solution to this problem is to hire a remote team that will handle your marketing and operations.

Real estate photographers: Professional photographers capture compelling pictures which can inspire potential buyers to make a purchase quickly. They cover everything from appropriate angles, composition, editing, along with professional DSLR cameras to a variety of lenses.

Video specialists: Video specialists can capture the nooks and corners of a property on a video tour. This can enhance selling if you have videos on websites and offer virtual tours to your clients.

Content strategists: Content strategists can help you create an engaging experience with your clients. With the proper usage of tools and keywords, they can turn any kind of content into compelling copy.

Virtual staging experts: Virtual staging experts can make a property look appealing by adding virtual decor and elements so that your clients can visualize their dream homes. This can help increase conversion rate as it is cost-effective.

Marketing experts: Marketing experts can research in-depth and create a striking strategy that can magnify your real estate business. They will also be able to analyze the right parameters to evaluate the success of your campaigns.

Key Insights:

Types of content that build authority:

How-to posts Email newsletters Evergreen content Interview pieces Educational guides Home sale, price & value reports Newsjack articles Tips & tricks on home selling or buying Curated posts Advice on whether to buy or rent

21 Emerging Challenges and Opportunities in Real Estate Sales

6. New paradigm for marketing Customers are changing rapidly. We think we know our target segments, but customers just got smarter because of the access to information on their smartphones. With more information come higher expectations.

Customer at the centre Your customer needs are changing drastically. No business can survive without their customers. Your organization must become one big customer-focused machine in order to generate positive word-of-mouth that keeps your business growing. Customers may not want the same thing tomorrow, what they wanted yesterday. Speed is essential here. In this environment, it is all the more difficult to establish lasting connections with customers. Your ability to engage and provide service to your customers has to evolve continuously.

Trust-based transactions Social proof31 is a powerful tool that can help you establish trust and convert customers quickly. Understand that this conversion might not actually happen digitally. While digital is a great medium for prospecting clients, actual relationship building is best strengthened offline over time32. Working from a relationship building perspective also helps realtors skip the part where you have to talk people into wanting what you sell. Customers want you to sell properties they want. If you can make the buying experience more natural for your customers, they will gladly pay you for that added value.

Value-driven personal insights Marketing to demographics is an outdated way of competing. Meaningful conversations with your customers are now indispensable. However, going beyond general chit-chat to add real value with professional insights can really help realtors establish both trust & respect with clients. Today, realtors are valued especially for their insights into the market. As a realtor, you can add value by ensuring that the right checks are in place for a smooth transaction. Experienced realtors make it a practice to collaborate with professional moving services, inspection agents, financial planners etc. Offering deep insights and ancillary consultations will help you come across as a true professional.

22 Emerging Challenges and Opportunities in Real Estate Sales

7. Niche real estate marketing

In order to cut through the advertising noise offline and online, both realtors and retail outlets need to create an immersive experience for the consumer. This is there partnering with Brick and Mortar33 establishments can pay off for realtors.

In order to stay consumer-relevant, more brick and mortar retail establishments are taking an entirely holistic view34 of real estate, operations, merchandising and marketing functions. Realtors can benefit from working with people in other disciplines to ask more location-specific questions and make the right decisions about audience targeting both online and offline.

Residential In addition to their student debt and healthcare loans, millennials are struggling to manage housing expenses. Also, baby boomers are faced with poor liquidity as they struggle to find buyers for homes - a major portion of their net worth. There is a gap between the demand for affordable housing and the reality of expensive homes on the market. Recovering from the housing market crisis of 2008, property prices are still an all-time high.

Many realtors are focussing on lucrative luxury real estate but the mid-range housing market presents unique opportunities. Millennials are going to be the prime homebuying generation in 202035. Offering homes in neighbourhoods with a high-density of jobs an effective marketing strategy as millennials look to minimize commuting costs. Realtors can also leverage the shift towards added amenities to justify homes at higher price points.

Hyperlocal real estate Realtors are already using hyperlocal marketing techniques to build a portfolio of customers in a specific locle before expanding to other areas. The very first step in targeting local markets is to reach out to the places where locals are active - both online and offline. When you show up regularly and interact with locals in a particular area, you become a part of that community. You are no longer just another realtor trying to sell their inventory.

Key Insights:

Effective hyperlocal marketing strategies:

Publishing local newspaper Conducting small interviews in and around Creating informative area pages Joining Facebook groups Posting guest blogs Using local tags on social media platforms

23 Emerging Challenges and Opportunities in Real Estate Sales

Luxury real estate To succeed in luxury real estate marketing, you’ll need to focus on positioning your real estate brand, reviewing marketing channels of competition, deploying advertising, involving yourself in the community, leveraging high-quality lead-nurturing resources and optimize your process by several strategies that interact with your audience and enhance their experience.

Position your brand Brand positioning might slightly be difficult for realtors who have just started out in the industry. It goes unsaid that luxury real estate clients will expect their realtor to bring exclusive properties to the table. Review your competition and target specifically to gather qualitative leads before you start approaching clients.

Stay authentic There are tons of realtors in the market that claim to offer just what homebuyers want. Lacking the right credentials can put you at a disadvantage. Proper licensing compliances will help you build a strong reputation and generate client interest.

Review your competition You can assess your competition by focusing on their weaknesses and keeping a close eye on the latest trends36. Study their social media strategy to pitch a certain deal, their email marketing pattern and new ways to beautify the website. How well does the audience rate your competition? Analyze their strengths and weaknesses with a SWOT analysis. Keep an ear to the ground for the latest market trends - to offer customized solutions to unique ‘luxury’ buyer-seller

Working with investors Realtors do have added opportunities when working with real estate investors because their audience is not limited to the homebuyers. Investors buy properties often in order to expand their portfolio. Typical home buyers only buy and sell once every 15 years37 on average. Investors can be a source of regular and lucrative income for realtors. If you are able to build strong relationships with investors, you may be able to add value by utilizing access to mortgages and rental income as . As a result, lenders will see you as low risk borrowers. Additionally, real estate investors have various creative financing options, such as private money lenders, hard money lenders, syndication, crowdfunding, and partnerships. In order to build an inventory that attracts investors, realtors have to brand themselves to the investment niche first. Breaking into the investor market may take some work but with the right combination of talent and know-how, this real estate niche can be very lucrative.

24 Emerging Challenges and Opportunities in Real Estate Sales

8. Building realtor brands

Establish thought leadership One of the best ways to create a self-fueling market is to specialize38. Any realtor who wants to establish a reputable brand will want to begin by picking and marketing a specific niche. Instead of trying to connect with everyone who needs to sell or buy any sort of property, target high-earning couples with young families to acquire big residential commissions.

A few real estate specialties39:

• Relocation expert • Buyers agent • First-time buyers • Military housing • Retirement housing • Luxury properties • Specific residential locales

Once you pick a specialty, you want to start building a reputation as an expert or a thought leader. Some ways to establish thought leadership include:

• Publishing books or videos • Speaking engagements • Webinars • Research and survey • Infographics • Podcasts • Newsjacking

25 Emerging Challenges and Opportunities in Real Estate Sales

Brand awareness can help you differentiate yourself in a copycat marketplace. Branding building goes beyond your website, content or visual identity. Remaining professionally active, hosting events, educating clients and establishing thought leadership both online and offline can go a long way towards helping you grow your client base.

26 Emerging Challenges and Opportunities in Real Estate Sales

Summary of findings

As property prices go up, realtors have to work harder to justify amenities and on-board the average home buyer

Changing lifestyles mean that realtors have to change their marketing strategies to offer greater value.

Leveraging emerging technologies like virtual staging, video marketing and online portals can help realtors stay ahead of the game.

Experiential marketing can help create unique buying-selling experiences and help realtors expand their network. Create interesting and memorable experiences.

Digital tools can help you grow but you need a human approach. Social media engagement and a strong content strategy can help realtors attract the right audience.

Maintaining regular contact and impeccable service can boost both productivity and sales. Tasks like cold calling, meeting clients, sales visits and inspections can be delegated

A streamlined realtor practice helps you focus on growth. Hiring the right support team can help you accelerate growth.

Clear communication, authenticity and thought leadership will help establish a strong brand, cut through the noise and grow your real estate business faster.

Realtors can drive value with professional insights and by offering ancillary services.

27 Emerging Challenges and Opportunities in Real Estate Sales

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2 Yun, Lawrence. “U.S. Real Estate Market Outlook.” nar.realtor, 10 June. 2019, https://www.nar.realtor/presentations/u-s-real-estate-market-outlook.

3 Hoffower, Hillary. “Millennials might finally be ready to buy - but it's causing home prices to rise and creating a vicious cycle for a generation that's already financially behind.” Business Insider, 5 Sep. 2019, https://www.businessinsider.in/thelife/millennials-might-finally-be-ready-to-buy-houses-but-its-causing-home-prices-to-ri se-and-creating-a-vicious-cycle-for-a-generation-thats-already-financially-behind/articleshow/70996265.cms.

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6 Cuesta, Nelson. “The Definitive Guide To Hyperlocal Real Estate Marketing.” Agentfire, 3 Mar. 2019, https://agentfire.com/the-definitive-guide-to-hyperlocal-real-estate-marketing.

7 Brittany, De Lea. “The hottest US states for foreign real estate investors.” foxbusiness, 17 Jul. 2019, https://www.foxbusiness.com/economy/us-real-estate-foreign-investment.

8 Hage, Kees. “Real Estate 2020 Building the future.” pwc, https://www.pwc.com/sg/en/real-estate/assets/pwc-real-estate-2020-building-the-future.pdf.

9 Yun, Lawrence. “U.S. Real Estate Market Outlook.” nar.realtor, 10 Jun. 2019, https://www.nar.realtor/presentations/u-s-real-estate-market-outlook.

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11 Chen, James. “18-Hour City.” investopedia, 7 Feb. 2018, https://www.investopedia.com/terms/1/18hour-city.asp.

12 Nimon, Mary Pat. "Self-promotion sells as real estate marketing tool." Business First-Louisville, 19 Oct. 1992, p. 36+. Gale Academic

13 Yun, Lawrence. “U.S. Real Estate Market Outlook.” nar.realtor, 10 June. 2019, https://www.nar.realtor/presentations/u-s-real-estate-market-outlook.

14 Linsell, Chris. “57 Shocking Real Estate Statistics You Need To Know.” theclose, 6 June. 2019, https://theclose.com/real-estate-statistics.

15 Hundrev, Izabelle. “60+ Must-Read Real Estate Statistics for 2019.” g2, 6 June. 2019, https://learn.g2.com/real-estate-statistics.

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16 Wong, J.T.Y. and C.M. Hui. The Myth of Property Prices: On the Psychology of Sellers and Buyers. , 2008, 26:3, 171–90. Marketing Time and Pricing Strategies Authors Eddie C.M. Hui, Joe T.Y. Wong, and K.T. Wong (JRER Vol. 34 No. 3 – 2012 http://pages.jh.edu/jrer/papers/pdf/past/vol34n03/05.375_398.pdf.

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23 Antis, Aubrey. “Benefits of 3D Matterport.” antisphotography, 7 Feb. 2018, https://www.antisphotography.com/2018/02/benefits-3d-matterport.

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35 Lautz, Jessica. “Impact of Rising House Prices on Home Buyers & Sellers.” nar.realtor, 6 Nov. 2017, https://www.nar.realtor/sites/default/files/documents/2017-11-05-realtor-university-speaker-series-jessica-lautz-impact- of-rising-home-prices-presentation-slides-11-06-2017.pdf.

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