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What Is The Future Of The Real Estate Industry?

October 11th, 2022

Future Real Estate Computers

What is the future of agents in the real estate industry?

Having sold real estate for the past 25+ years, I (Margie Philo) believe the future of the real estate industry holds continued growth, even if the markets fluctuate between buyer and seller markets. Buying and selling real estate is a necessity for private parties and business owners, so there will be continuous innovation and growth in the professional industry supporting these transactions.

An example of recent evolution of the industry could be seen as the continued Covid pandemic continued through the past few years. Agencies and their agents were forced to adapt and innovate to show properties. This greatly advanced the adoption of professionally produced 360 imaging and video tours. Companies that adapted these methods reaped the rewards by providing full visuals to potential buyers, from the relative safety of their own homes or offices. These virtual tours and other developments like this show a bright future. The processes may change throughout the years but will continue to cause growth in the way real estate showings, sales, and transactions occur.

The current Lake Placid market is going through a current period where there are buyers but not as many people selling their homes, as compared to the early Covid pandemic period. This local industry “blip” has buyers taking a pause before purchasing a new home instead delivering quick offers. However, homes that are priced right and in certain neighborhoods are still being purchased quickly. This is an ongoing need for real estate industry expertise and leads me to believe that the future is still bright for the continued growth in the Adirondacks.