The real estate industry is always changing and evolving. It’s a new era in real estate. Technology has dramatically influenced the standards in the day-to-day practice of the real estate business, and it continues to evolve. More sophisticated, user-friendly business models have also grown out of the changes to serve consumers’ needs better in every area of life.
Read on as we explore three ways the real estate industry in Long Island has changed in the last ten years.
Technology is a critical player in how the real estate industry in Long Island has changed in the last ten years. Online listings have become the method of marketing property. As a buyer scrolls through listings online, there is one chance to make a great first impression. Among the sellers’ expectations from their agent is the strategic use of high-quality digital photography and 360-degree drone footage of the interior and exterior for virtual walk-throughs, which are now the industry standards. To this end, top agents market properties on multiple sites and utilize the services of professionals to grab the attention of buyers. With these highly detailed photos in mind, staging has risen to the forefront of the industry, highlighting properties for the listing with the experience for buyers as they view the space as the driving force, removing personal items that show possession, and using neutral tones throughout the home. Additionally, pricing your home right has never been more critical; setting the wrong asking price could eliminate your property from the right buyer’s search because your number is too high or too low. These changes in the real estate industry have also made properties in less-than-perfect condition challenging to sell through an online platform at market value.
Buyers have become pros at searching online listings when searching for a new home, and this is our second of the ways the real estate industry in Long Island has changed in the last ten years. Expectations have changed for technically savvy prospective buyers who scroll through properties online; unfortunately, presenting a property with that lived-in feeling and low-quality imagery to this audience typically raises a red flag, turning them off on the listing. However, because of the speed at which these buyers can now review a massive amount of data, you’ll find the buyers you deal with are well aware of how much your home is worth on the current market. They understand the implication when a price is too low. There’s probably something wrong that the agent doesn’t mention in the listing. The assumption with an unrealistic listing price, negotiating with the sellers may be highly challenging. Today’s buyers prefer properties that are in ready-to-move-in condition; homes that require noticeable repairs typically receive insultingly low offers, if any come at all.
Hybrid Agent Investors
One of the most remarkable ways the real estate industry in Long Island has changed in the last ten years is the combination of a professional real estate investor with a professional real estate agent. Once you’ve met with your hybrid agent investor, they will present you with an explanation of two potential outcomes, detailing the expenses and final profits from a traditional listing on the MLS as well as through a direct sale to your hybrid agent investor. Then, it’s up to you to decide which is best suited to your financial and personal needs and goals. The goal of a hybrid agent investor is to provide you with all of the data necessary to make an educated decision about what is best for you because we want you to feel good about your decision long after the transaction, and we do this with no obligation.
Acting as a professional investor, your hybrid agent investor will work together with a team of industry professionals to quickly assess your home and the power of cash on hand to promptly purchase and rehabilitate your property. In addition, working as an experienced real estate agent, your hybrid agent investor can market and sell homes, utilizing the latest advances in technology. Additionally, because they’ve spent years networking within both the investor side of real estate and throughout their career as an agent, with this vast amount of connections, word of mouth quickly spreads on available properties to buyers of all types. So no matter the condition of your home, or any time constraints, you’ll find the solution with a hybrid agent investor to help you over any hurdles you may feel stand in the way of your sale.
The emergence of the high-tech and highly savvy hybrid agent investor is one of the most significant ways the real estate industry in Long Island has changed in the last ten years. Buying or selling your home may be the most substantial financial transaction of your life, so why not find out how this revolutionary combination can benefit you? Contact Prestige Home Buyers today at (631) 336-9166.