Key Trends Influencing Real Estate Management by 2028

Welcome to the changing world of real estate, where trends shift quickly! As the market changes with what buyers and renters want, it’s important for developers and builders to keep up. In this blog, we’ll explore the current and new trends that will affect real estate management by 2028. Get ready, because knowing these trends is crucial for success in the lively real estate market!

If you are in real estate or thinking of entering this sector, it’s important to stay informed about the emerging trends and demands. Here are the top 5 trends reshaping the real estate industry in India:

It’s no wonder that Millennials and Gen Z are the future property buyers. Instead of boring and dull homes, they prefer aesthetic and smart homes, where voice commands can turn on the lights, pull down curtains, and sensors can turn off the AC when no one is in the room. Additionally, working professionals are increasingly seeking homes with dedicated workspaces due to the growing work-from-home culture. About 52.4% of households have smart home devices now. This number is expected to increase to 75.1% worldwide by 2028.

The world is becoming increasingly digital. From banking to shopping, people now prefer to complete tasks with just a few clicks from the comfort of their homes. Property buyers and sellers are also saying goodbye to traditional paperwork, as it is often impractical for all stakeholders to be physically present at a location. As a result, electronic documents are gaining popularity. A contractor or purchase manager generates a purchase order, which the builder can then sign digitally, to ensure that the order doesn’t get delayed just because the builder is out of town.

If you are still showcasing your property on large hoardings at traffic signals and hoping to attract customers, you are wasting both time and money. The potential buyers you are targeting on the roads are actually searching for properties online. Platforms like Magicbricks and Housing.com play a significant role in this shift. There are even real estate CRM software solutions that allow you to fetch property leads from all lead generation sources in one place for easier and smoother inquries management. If you haven’t listed your properties on these sites, you may be losing customers to your competitors for the obvious reasons.

Gone are the days when customers had to take leaves from work to visit multiple sites to buy a property. Now, real estate developers and brokers are offering virtual tours of properties, saving customers time and energy. Clients can later visit 2-3 shortlisted sites from the numerous options provided by realtors. With advanced technological tools, sellers can even showcase 3D animated interiors to buyers to help them better visualise their future homes.

With the increasing shift in buyer behaviour, sellers, such as developers, are also adapting their ways of working. As the population grows and the craze for nuclear families rises, the demand for residential properties continues to increase. Consequently, builders worldwide are moving towards digital construction management. Instead of concentrating on mundane and automated tasks, they aim to focus solely on construction. Real estate ERP software allows developers to manage construction projects directly from their phones, eliminating the need for physical site visits.

To maintain your relevance in the real estate industry in the coming years, it is imperative to adopt a more advanced and intelligent management system. Businesses that fail to evolve with technological advancements are often the first to exit the market. Therefore, it is crucial to stay ahead of your competitors by transitioning to a digital real estate management solution that ensures seamless construction management and enhances client satisfaction. While there are numerous real estate software options available in India, Build Formula stands out as one of the premier cloud-based solutions. It is the best CRM for real estate that automatically captures and nurtures leads from various property platforms. Additionally, it comes with ERP capabilities to let you track, review, and monitor progress at construction sites with your smartphone.