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Today’s top stories…
90% of homebuyers still rely on agents + other fun facts
AI: from property valuations to virtual tours
Crowdfunding platforms are making real estate investing accessible
💰 Deal of the Day!: 3 bd | 4 ba | Eureka Springs, AR
Today’s mortgage rate (30 Yr. Fixed): 7.07%
Do we still need agents?
Despite recent changes in the industry, a whopping 90% of homebuyers still choose to partner with agents. Though, that number might change if they’re forced to sign up front agreements.
Agent Introduced Properties: Interestingly, while many search online (52%), only 28% of buyers found their homes directly through an agent, highlighting their role beyond just listings [NAR Quick Real Estate Statistics].
Strong Satisfaction: This high usage reflects satisfaction - 89% of buyers said they would use their agent again and recommend them to others [PropStream].
Referral Power: The most common way to find an agent? Referrals! 43% of buyers found theirs through friends, family or neighbors [NAR Highlights From the Profile of Home Buyers and Sellers].
Generational Shift: Baby Boomers are now the top home buying generation (39%) followed by Millennials (28%) who may be more comfortable with online searching [Agent Advice 2024 Real Estate Industry Statistics And Trends].
Agents likely aren’t going anywhere, but the NAR settlements will have a big impact on agent adoption, especially on the buyer side.
AI: The Ultimate Real Estate Disruptor
The real estate landscape is undergoing a seismic shift, thanks to the transformative power of artificial intelligence (AI). From property valuations to customer service, AI is revolutionizing the way we buy, sell, and manage real estate.
Imagine a world where you can get an accurate property valuation in seconds, thanks to AI-driven analytics that crunch thousands of data points. Companies like Zillow and Redfin are already leveraging these powerful algorithms to deliver instant home value estimates, taking into account everything from historical transaction prices to socio-economic indicators.
But AI's impact doesn't stop there. It's also transforming the way we interact with real estate professionals. Chatbots and virtual assistants, powered by AI, are now capable of handling client inquiries 24/7, freeing up agents to focus on high-value tasks. Platforms like HouseJet are even using AI to optimize lead generation and set appointments, allowing agents to spend more time closing deals and less time on admin work.
Property management, too, is getting a major upgrade thanks to AI. From automating routine tasks like lease renewals and maintenance requests to optimizing energy consumption and predicting equipment failures, AI is making property management smarter, more efficient, and more proactive.
And when it comes to marketing, AI is a game-changer. By analyzing vast amounts of data on browsing habits and purchasing behavior, AI can create hyper-targeted marketing campaigns that showcase properties perfectly aligned with a buyer's preferences. Tools like Redfin's AI-powered listing photo enhancer are even letting buyers visualize the potential of a space, regardless of its current state.
Virtual property tours are also getting a major boost from AI. No longer limited to static images or simple video walkthroughs, AI-powered virtual tours offer interactive, personalized experiences that highlight features tailored to a buyer's interests. Chatbots can provide real-time information and guide buyers through the virtual space, making the experience more engaging and informative than ever before.
Even the world of real estate financing is feeling the impact of AI. From expediting pre-approvals and automating document verification to assessing risk more accurately and opening up financing opportunities for non-traditional borrowers, AI is making the lending process faster, smarter, and more inclusive.
The AI revolution in real estate has only just begun, and those who ride this wave will be the ones to reap the rewards in the years to come.
Crowdfunding: The New Frontier of Real Estate Investing
Looking to diversify your investment portfolio and tap into the lucrative world of real estate? Thanks to the rise of crowdfunding platforms, it's now easier than ever to get in on the action, even if you don't have millions to spare.
We've scoured the market to bring you the cream of the crop when it comes to real estate crowdfunding platforms. Our top picks offer low minimums, user-friendly interfaces, and a range of investment options to suit every strategy.
Take Yieldstreet, for example. This platform opens the door to a variety of alternative investments, from real estate to art, with a focus on asset-backed opportunities that can provide an extra layer of protection. While it's currently only available to accredited investors, Yieldstreet is definitely worth keeping on your radar.
For those who meet the accredited investor criteria, EquityMultiple is another standout choice. With potential high returns and even some liquidity options, this platform blends the best of crowdfunding and traditional real estate investing. Just be prepared to navigate a more complex fee structure.
But what if you're not an accredited investor? Don't worry, we've got you covered too. RealtyMogul and Fundrise both offer accessible options for everyday investors looking to dip their toes into the real estate market. With low minimums and straightforward fee structures, these platforms make it easy to start building your real estate portfolio.
Of course, as with any investment, it's crucial to do your due diligence and understand the risks involved. Real estate crowdfunding is still a relatively new frontier, and how these platforms fare during market downturns remains to be seen. It's also important to note that many of these investments can be less liquid than traditional stocks and bonds.
But if you're ready to take the plunge and add some real estate exposure to your portfolio, these crowdfunding platforms offer a compelling way to get started. Whether you're an accredited investor seeking high returns or a first-timer looking to test the waters, there's an option out there for you.
💰 Deal of the Day!
Price: $2,100,000
This lakefront property is an ideal vacation rental, offering stunning views, luxurious amenities, and ample space for guests to relax and enjoy the natural beauty of the surrounding area, making it a highly desirable and profitable investment opportunity.
Airdna data:
Estimated monthly revenue: $4,158/month
Cashflow excludes additional operating expenses. Always confirm local regulations, HOAs and permits before purchasing a property.
Put your money to work in a high-yield cash account with up to $2M in FDIC† insurance through program banks.
Get started today, with as little as $10.
Thanks and see you tomorrow!
✍️ Brett