The pandemic caught professionals in many industries off guard. The real estate market was no exception.
According to IBIS World, the real estate industry suffered a 16% decrease in market size in 2020. Despite the seemingly gloomy projections, the industry’s market size began its slow and steady climb toward the pre-COVID metrics.
One of the many pandemic ramifications is that people, especially
first-time buyers, go online. You can’t leave the house much after all. What seems to be a catastrophe for the industry as a whole, may turn out to be a blessing in disguise for those willing to digitize.
Digitalization often takes the form of developing digital products to help buyers navigate the complex world of real estate. The marriage of real estate and technology, often referred to as proptech, has been soaring long before the pandemic, but the latter seems to bring us closer to the inevitable. People go online increasingly more often. Where people go, companies should follow.
But how does one go digital in real estate? Short answer: real estate platforms. The long answer is this article itself. 😄
