Millennials swap out agents for apps when it comes to big ticket purchases
Implications - Eliminating barriers to purchase, real estate companies are tuning to apps to entice consumers like Millennials, who are looking for a more streamlined path to purchase. Allowing consumers to rent, buy or browse potential homes through multimedia platforms and mobile apps, these platforms are making a traditionally tedious process more convenient.
Workshop Question - How can your brand revamp its more tedious or traditional offerings?
Trend Themes
1. App-based Real Estate - Real estate companies are tuning to apps to entice consumers, making a traditionally tedious process more convenient.
2. Hyper-customization of Home Buying - Hyper-customized approach to home buying appeals to experience-seeking consumers who want more control over their future investments.
3. Direct Interaction Between Parties - New real estate marketplace apps make it easier than ever for primary parties involved in housing and tenancy matters to deal with one another directly without having to go through real estate brokers.
Industry Implications
1. Real Estate - Applying technology and innovative marketing, the real estate industry can provide seamless, customized experiences and accelerate the buying process.
2. Mobile App Development - Developers are finding it profitable to create home-buying apps that simplify and streamline the real estate market.
3. Financial Technology - Using blockchain and cryptocurrency, fintech companies can offer a streamlined platform to buy and sell properties.
