How Can Technology Become the Backbone of Real Estate?
Buckle up, folks – it is no longer a secret that the next economic recession is around the corner. Nobel-Prize winning economist Robert Schiller has said so, and trends in real estate pricing across the country indicate a slump as housing costs in the past twelve months have seen the smallest gain since 2012. It won’t happen overnight and will almost certainly not be as dramatic as 2008 – but a downturn is inevitable.
Real estate businesses feel recessions especially powerfully – so what can they do to recession-proof in advance of the next economic downturn? Reports agree that a heightened focus on technology – an asset that wasn’t there to bolster the industry in as powerful a way in 2008 – will be a major boon. As I’ve covered in the past, tech-enabled home services are a gamechanger for builders and can offer a level of competitive differentiation and lifestyle transformation that new buyers will soon come to expect.
What does technology look like in the real estate sector? Pre-purchase homebuying tools and real estate research platforms are essential implements for buyers – ensuring that homes are listed widely across regional and local real estate platforms is a crucial marketing tool. In construction, newly built homes that come equipped with the conveniences of a smart home will stand out. From digital key-and-lock codes to smart thermostats, security systems, “digital doormen” and connected entertainment, the appeal of a fully wired, smart home that is built as a turnkey, ready-to-use environment is difficult to deny.
Above and beyond the in-home services that tech can enable, searchability, reliability, and a powerful brand presence are key. If a recession is indeed around the corner, the time is now for builders to deploy powerful digital strategies to gain exposure and build momentum. If you’re ready to level-up your homebuilding business’ marketing impact, make ASTRALCOM your partner – we can help you bring multi-channel content marketing to a whole new range of customers. Reach out to learn more about our expertise.