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Real estate customers have changed. Have agents?

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Real estate customers have changed. Have agents?

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Next generation customers power the real estate market. Are agencies and property portals ready? Here's my take on the way Proptech is shaping the real estate transaction space

Next generation customers power the real estate market. Are agencies and property portals ready? Here's my take on the way Proptech is shaping the real estate transaction space

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Real estate customers have changed. Have agents?

  1. 1. Hello
  2. 2. A new era is dawning on the real estate transaction space
  3. 3. Technological evolutions
  4. 4. technological advancements create the possibility of a far be er customer experience Technology
  5. 5. 1. The iPhone launched a mobile revolution 2. Social Media created the possibility for small businesses to create their own media a on a shoe-string budget 3. E-commerce showed customers how to shop, compare and review products and services from the cosiness of their own homes Technology
  6. 6. many industries have seen dramatic changes… Technology The opportunities that technological advancements present for be er customer experiences have been largely ignored by some established industry players.
  7. 7. Retail - Amazon
  8. 8. Television - Netflix
  9. 9. Transport - Uber
  10. 10. A major shi in the real estate market has yet to happen, but make no mistake. That moment is now ! Technology
  11. 11. Next gens
  12. 12. The next gen customer Next generation customers will almost fully power the market within the next 5 years
  13. 13. The next gen customer born from 1980 to 2000 o en first-time buyers or tenants in 2017 more than half of all first-time buyers are next gens next gens account for 35% of all home buying transactions - share has grown consistently over the last 4 years
  14. 14. “Next generation customers” are mobile, tech savvy, and expect exceptional levels of service 
  15. 15. A ending and marketing to this new generation of real estate customers is a totally new ballgame
  16. 16. Mobile • Internet usage is now far larger from a mobile than from on any other device • Users spend on average 69% of their media time on mobile • 80% of social media time is spent on a mobile device • 70% of consumers delete emails that don’t render well on a mobile device
  17. 17. Mobile
  18. 18. Mobile • 58% of next gen home buyers found their home via mobile • 46% of buyers’ age 37 to 51 found their home via a mobile • 72% of all buyers used a mobile device in their home search
  19. 19. Mobile A business that doesn’t have a strong mobile presence is in trouble ! This goes far beyond mobile responsiveness content functionality UX design
  20. 20. • There are 1.74 billion mobile active users on Facebook • There are 1.15 billion mobile daily active users. • 1.37 billion people on average log onto Facebook daily (mobile + other devices). Social Media So in case you had any lingering doubts, Facebook is too big to ignore.
  21. 21. Social Media Being on social media doesn’t mean posting a listing occasionally generate interesting, immersive content on a regular basis and engage with customers
  22. 22. Social Media Inman Connect Gary Vaynerchuk Keynote
  23. 23. Efficiency & ease-of use Next gens are constantly bombarded with a ention grabbing “triggers”
  24. 24. Efficiency & ease-of use access to information instantly chat be er than phone book a viewing without back and forth emails visually immersive content they want
  25. 25. Efficiency & ease-of use access to information instantly chat be er than phone book a viewing without back and forth emails visually immersive content they want
  26. 26. Understanding what this means and adapting to it by tapping into the right technologies to provide greater customer experiences The key
  27. 27. The threat
  28. 28. Telling yourself that you can continue to do the same thing because “it works“ The threat
  29. 29. About Netflix Blockbuster went bankrupt in 2010 and Netflix is now a $28 billion dollar company, about ten times what Blockbuster was worth.
  30. 30. About the iPhone Palm is no longer with us. Nokia owned about 63% of the mobile phone market at the end of 2007. Today it’s less than 5%.
  31. 31. The opportunity
  32. 32. Some have already started to fill the gap between the next gen customer expectations and the service conventional actors provide by leveraging technology to create extraordinary customer experiences The opportunity
  33. 33. The opportunity Compass just raised 100mio$ at a 1.8$Bio valuation & continues to expand in the US and a ract top agents Reffkin, Compass’s CEO
  34. 34. Thanks !

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