In a dynamic market, the understanding of real estate trends allows professionals to adapt their marketing approaches and services to suit the evolving market conditions. And, keeping up with the evolution of the market becomes all the more easy once you have technology working in your favour.
See a few reasons why you should definitely pay attention to trends in real estate and how CASAFARI helps you do that.
5 reasons to keep an eye on trends in real estate
Working with market insight
Starting with the most obvious conclusion, trends provide valuable insights into the direction of the market, such as price fluctuations, demand patterns, and emerging neighbourhoods. This knowledge helps estate agents advise clients accurately and strategise their work according to the reality of the market.
Adopting risk mitigation strategies
While some trends can be used to grow your portfolio, others can be perceived as a threat to the way your business works today or to your clients, such as market saturation or fluctuating interest rates. Identifying potential risks associated with real estate trends enables professionals to mitigate them and protect their clients’ investments.
Granting a competitive edge
By being aware of trends in real estate, professionals such as brokers can anticipate market shifts, for example, by expanding their business at the right time or to the right area. Estate agents, on the other hand, may take advantage of this knowledge to position themselves as experts in the industry.
Building client trust
Clients tend to trust professionals who demonstrate a strong understanding of the market. By keeping up with real estate trends and showing they’re knowledgeable, professionals can win the trust of clients, developing long-term relationships and winning future referrals.
Diversification of Services
Understanding trends in real estate helps professionals diversify their services, offering innovative solutions, going after new technology to boost their work and specialising in niches that are rising.
Three ways to find trends in real estate with CASAFARI
Time series: watching trends through time
Analysing a time series enables the identification of cyclical, seasonal, or long-term trends, aiding in making informed predictions and strategic decisions. This helps in understanding market dynamics, foreseeing potential shifts and adapting strategies accordingly, ultimately empowering professionals to navigate the real estate landscape with foresight and agility.
Inside CASAFARI Market Analytics, you can find a time series section in which you’ll see:
- The average price and avg. price per square metre;
- Increases and decreases of prices;
- New, sold and delisted properties on the market.
All the information can be seen for different kinds of properties (apartments, houses, plots, etc.), for sale or rent, for different typologies and characteristics, in a defined period of time.
Heatmap: a magnifying glass for localised trends in real estate
If you wish to better understand how the price vs. demand dynamic works in a specific area, CASAFARI’s Market Analytics provides you with a heatmap section that does exactly that.
You just need to set location, a period of time and define whether you want to see information of properties for sale or rent. The data will be exhibited on a map and through a list, with the option of sorting by:
- Average asking price;
- Average asking price per square metre;
- Number of properties available on the market;
- Prices up and down.
All the information is shown according to the typology and characteristics set by you, so you can see how the market reacts to a multitude of properties, for different clients’ needs.
Market reports, a deep-dive into a market
Whether you’re a broker thinking about expanding your business to a new area or an estate agent that needs to have a keen understanding of parts of the city, CASAFARI has a solution to help you with the task.
Our Benchmarking and Properties market reports can help you:
- conduct research on competitors’ portfolio and year-over-year growth;
- understand demand levels per typology;
- assess market size and value;
- identify trends in real estate prices;
- calculate expected revenues;
- capitalise on emerging markets.
Talk to our team about what it is you need to know, let them help you choose the right data points and get a tailored analysis that fits your business like a glove.
In conclusion, the role of identifying and understanding trends in real estate is indispensable for professionals who wish to offer tailored guidance, adapt swiftly to changing market conditions, and maintain a competitive edge in an evolving industry.
Embracing real estate trends isn’t merely a choice, it defines success and resilience in the ever-shifting world of property transactions and CASAFARI can help you tackle this challenge.