Is 2021 the year for Innovation in Real Estate?
2021 is shaping up to be the year innovation plays a bigger role in the traditional (but evolving) real estate sector.
Globally, tech continues to play a big role in global real estate markets, as people move to use online services more frequently.
Here in New Zealand, our market is smaller and we’re yet to see the same impact tech is having overseas, however, with disruptors like Tall Poppy leading the way it will play a bigger role over coming years.
So, what’s potentially to come for New Zealand?
Globally, billions upon billions are being invested in global companies "reinventing" real estate.
New models of real estate – iBuyers – are here to stay, despite the global pandemic.
Through this model, a company gives an instant cash offer to a vendor, before selling the house themselves. These companies have survived the pandemic, which indicates solid fundamentals – as does the ongoing introduction of competitors.
As always, technology and personalised service go hand in hand in real estate. Delivering superior, personalised customer service to vendors and buyers remains key nationally and internationally –
especially with the stock of houses for sale falling to record lows around New Zealand, and prices continuing to climb.
Mike DelPrete is a Global Real Estate Tech Strategist and an Independent Director of Tall Poppy Real Estate.