Real estate has evolved significantly over time, with changes in technology, economic conditions, and cultural values all playing a role. The team at Journey Real Estate is a forward-thinking group, who stays on top of the latest trends and technologies in order to position our clients and our team for success. Here are a few key ways in which the real estate industry has evolved:
- Technology: The advent of the internet has revolutionized the way real estate is bought and sold. Buyers and sellers can now easily search for and compare properties online, and virtual tours and video call showings have become common. Our buyer search portal is second to none and offers an interactive experience for our buyer clients. The technology category is vast, and we are constantly updating our tech stack. Some of our favorite tools currently are Asana, Slack, Homebot.ai, ChatGTP, drones, RealScout, Google Docs, and so much more. We, at Journey Real Estate, leverage technology in an effort to make the process more seamless for both our clients and the agents on the team. While we love leveraging technology, our clients don’t need to be tech savvy and we still sit belly to belly at the table with pen and paper for those who aren’t comfortable with computers.
- Economic conditions: Economic booms and busts have always had an impact on the real estate market. During times of prosperity, demand for housing tends to be higher, leading to increased prices. Conversely, economic downturns can lead to lower demand and lower prices. Our current economic conditions are very unique and changing rapidly, which is why we are constantly educating our team with the latest insights from economists. Even within Marin County, economic conditions are hyper-local. The Bel Marin Keys real estate market has fared better than most due to the limited supply of homes and incredibly rare offering of waterfront properties. We always encourage our clients to avoid reading the national headlines and speak to a real estate professional about their specific situation.
- Government policies: Government policies, such as interest rates and tax incentives, can also impact the real estate market. For example, low interest rates can make borrowing for a home more affordable, leading to increased demand and higher prices. We’ve experienced many clients relocating to other states because of the tax implications in California, especially now that remote working is widely available. Large employers are also exiting the state for this reason, which impacts the job market. Local politics in Bel Marin Keys are no exception as topics such as dredging come up and need to be addressed over time.
Overall, the real estate industry has come a long way from its humble beginnings, with significant developments and innovations shaping the way we buy, sell, and rent properties today. From the introduction of the MLS and online real estate platforms, to the adoption of virtual and augmented reality technology, the industry has continued to evolve to meet the changing needs and preferences of consumers. While it is impossible to predict exactly what the future of real estate will look like, one thing is certain: it will continue to adapt and innovate in order to better serve the people who rely on it. The Journey Real Estate team works tirelessly to stay on top of this evolution. It’s vitally important to work with an agent who’s full time and up to speed on all of the latest trends and technologies. We are here to serve!