- Access to accurate real estate information is critical in the wake of uncertainty in the markets.
- Luke Babich, CSO at Clever said that the process of getting a home ready for sale, pricing it correctly, and finding reliable professionals is still inefficient and expensive.
- On the Block Realty CEO Daniel Steinfeld believes that increased market information access has fueled transparency one of the most critical factors of success.
So much investment is tied up in the property markets. Any up or down movement has life-changing impacts. That is why the market needs a vast pool of thoughts from industry experts to keep investors informed of the latest and future trends.
Disruptor Daily recently caught up with a couple of real estate experts to pick their brains on the future of the industry. Here’s what a few had to say:
Luke Babich, CSO at Clever
“Information about homes has become more accessible than ever before. Sales history, home details, and pricing information are all available online to the public, dramatically reducing the friction and costs in the home buying process.
As the costs and barriers to *finding* a home fall, other costs in the process become a bigger problem. Now, the transaction costs of selling a home are a bigger expense. The process of getting a home ready for sale, pricing it correctly, and finding reliable professionals is still inefficient and expensive: it’s the next frontier for the real estate industry.”
Glenn Orgin, founder of Richr
“Currently, selling homes is very expensive. This expense is driving a trend toward more automation for increased efficiencies. The future of real estate is all about transaction automation to enable buyers and sellers to seamlessly transact on their desired home purchase using one platform.”
Grant Cardone, Real Estate Investor and CEO of Cardone Capital
“Important to realise going forward that all real estate is not created equally. In the past, it almost didn’t matter what kind of real estate you invested in you could make money. That will not be the case going forward. Single-family homes will prove to be a terrible investment and I believe America is waking up to that fact right now — that buying a home is not an investment but a very expensive proposition that costs money and mobility.
Retail and office will continue to be speculative at best due to disruptive technologies. Apartment complexes that offer security, amenities, built-in community and mobility will lead the way due to changing desires of millennials and more importantly, boomers.”
Daniel Steinfeld, CEO at On the Block Realty
“Without question, the increasing availability and accessibility of information has made transparency the single most important driver fuelling the tech developments in real estate.”