Table of Contents
- Trends in the Real Estate Market Heading in 2024
- 4 New Trends in Real Estate Marketing
- AgentUp – for the New Trends in Real Estate Marketing
New trends in real estate marketing are surprising many sales agents.
Knowing the marketing trends helping agents sell homes and their own services is vital for those wishing to succeed through the coming market shifts.
In this article, we’ll discuss new trends in real estate marketing and how to integrate them into your business.
But first, let’s talk about general trends in the real estate market and the expectations for 2024.
Trends in the Real Estate Market In 2024
Today, we still see mortgage rates and home prices both relatively high. Additionally, inventory is low, and many prospective sellers and hopeful buyers feel uncertain about the year ahead.
The median price for an existing home in September 2023 was $394,300, marking a third month of year-over-year price increases.
Interest rates roughly doubled in 2022 due to the Federal Reserve’s response to inflation. And now, in October, the average 30-year mortgage rate hovers at 8.01 percent — its highest in more than 20 years.
Existing home sales in September 2023 declined to 3.96 million homes. This represents a 15.4 percent drop from the year before.
Housing prices, mortgage interest rates, and changes in inventory levels will all shape housing affordability as we move along in 2024. Are you curious about where these trends may go?
According to the National Association of Realtors (NAR) economists, these are the expected market trends for the coming year:
- Housing prices – NAR’s economists predict general rates of appreciation at around 3 to 4 percent
- Interest rates – the financial analysts at Morgan Stanley don’t expect Fed interest rates to drop any time soon
Given those anticipated trends, here are the general takeaways for the 2024 real estate market:
- Inventory will increase slightly, but the low levels of inventory will continue to give sellers the upper hand
- Mortgage interest rates and higher home prices will continue to soften demand on the part of would-be buyers
- However, if rates were to fall in 2024, it would likely spur the market for both buyers and sellers
Now that we know the general market forecast let’s look at the new real estate marketing trends expected in 2024.
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4 New Trends in Real Estate Marketing
Based on various statistics, here are the new and emerging marketing trends in 2024.
1. The New Popular Kid on the Block – Virtual House Tours
Virtual house tours use images captured by a 360-degree camera to seamlessly craft an immersive digital tour of the property.
Once your virtual tour is online, it’s a 24-7 open house where buyers can see the property whenever they want.
Additionally, most seasoned real estate photographers and agents understand traditional photos’ limitations when presenting a property.
However, with a virtual tour, viewers can have a comprehensive experience of virtually “navigating” the space from any location.
This allows potential buyers to gain a deeper understanding of what it would be like to reside or work within the premises, a factor that can prove pivotal in securing a fast sale.
Moreover, AgentUp virtual tours are easy to create. Look at this article on a step-by-step guide to creating a virtual house tour.
All right, let’s move on to our second trending marketing tool – floor plans.
2. Floor Plans Are Back – But With a Twist
Floor plans were popular real estate marketing tools back in the 1970s. But they’ve made a comeback – and with a twist – they can now be rendered as 3D interactive guides to any home.
These critical and trending marketing tools accurately represent a property’s layout, showing the precise measurements of each room and space.
Floor plans have gained immense popularity among potential buyers, as evident from the following data:
- 64% of prospective homebuyers express a strong preference for encountering floor plans while browsing property listings
- Properties that include floor plans tend to sell a remarkable 50% faster than those lacking this visual aid
- An impressive 51% of buyers confirm that floor plans played a pivotal role in their decision-making process
Furthermore, a recent survey by Zillow discovered that more than 80% of buyers considered floor plans vital for evaluating a potential residence.
Clearly, floor plans have become an essential tool for buyers, allowing them to visualize how their furniture will fit and significantly increasing the likelihood of a speedy sale.
So far, so good. Next, let’s look at another new trend in real estate marketing – single property websites.
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3. An Emerging Marketing Trend – Single Property Websites
Single property websites are a top-tier asset and a new trend in real estate marketing, offering impressive features and advantages:
- Dedicated showcase – these websites exclusively focus on a single listing, eliminating distractions
- Visual immersion – they serve as a seamless platform for showcasing captivating photos, immersive video walk-throughs, and interactive virtual tours
- Comprehensive information – single property websites provide extensive descriptions and detailed information about the listing, including the property’s features and advantages
- Efficient communication – interested buyers can effortlessly schedule showings or reach out to the listing agent directly through these websites
- Increases website traffic – property sites come with a unique URL and SEO features that will help boost SEO and website traffic
Moreover, harnessing the power of single property websites is an intelligent strategy for elevating your brand, showcasing favorable client reviews, and ensuring a steady influx of leads.
These websites also boast the capacity to house a wealth of information about the listing. They encompass not only photos but also supplementary content that may not be shared on the Multiple Listing Service (MLS).
This extra information serves to pique the interest of potential buyers further, making single property websites one of the emerging trends in real estate marketing now and in the year ahead.
Lastly, we will explore one of the new real estate marketing trends – and it will likely surprise you!
4. Real Estate Virtual Assistants
Running a successful real estate sales business is a time-intensive effort.
Most real estate sales professionals are stretched thin, managing a demanding schedule of house showings, seller consultations, and property preparations.
Therefore, this leaves them with limited time for effective marketing efforts.
To boost your marketing output, consider this new emerging trend in real estate marketing – using the services of a virtual assistant to grow your business.
A proficient virtual assistant can take on the following valuable tasks, including:
- Fine-tuning digital marketing tools discussed earlier
- Efficiently managing and promptly responding to client inquiries
- Scheduling showings, meetings, and events
- Consistently and purposefully promoting properties
- And much more!
Working with a real estate virtual assistant sounds good, right? But how do you find one – and, more importantly, one that is affordable?
This is where AgentUp becomes your go-to partner in the business. We specialize in providing virtual assistants explicitly tailored to the real estate industry, available when needed.
Reach out to us to schedule a free consultation. We’ll help you explore how AgentUp’s virtual assistants can significantly impact your real estate career.
There’s no obligation, and we won’t pressure you. So, why not learn more about this new real estate marketing trend and how it can help transform your business?
By now, you’ve realized that given the new trends in real estate marketing, having a skilled marketing ally is essential for success. So, let us introduce ourselves further!
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AgentUp – for the New Trends in Real Estate Marketing
Integrating the new trends in real estate marketing doesn’t just help sell houses — it also helps sell you as an agent. In the eyes of your clients, your marketing directly reflects your skills and efforts as an agent.
The good news is that you have an experienced partner in real estate marketing – AgentUp.
We provide you seamless access to a wide range of real estate marketing services to bolster sales growth, including:
- Real estate photo editing
- Virtual staging
- Virtual tours
- Single property websites
- Custom house portraits
So what are you waiting for?
Sign up for a free AgentUp today and let us connect you with the newest emerging real estate marketing tools.
Thanks for reading. We hope today’s blog post helped you learn about the new trends in real estate marketing. Before you go, you may also want to check out the following resources:
