Six Things Developers Can Do to Succeed in 2020:
•Awareness of social issues — and a company’s stance on them — has a growing impact on purchase decisions.
•Emphasis on shared spaces means a rise in multi-use living and reimagined buildings.
•The rental market is being saturated in demand and doesn’t have the supply to keep up.
•Suburbs are attracting millennials with multi-use, transit-friendly, 24-hour communities.
•Community becomes increasingly important to buyers and renters.
•Timely, accurate, and quick decision-making is crucial to success, and that means more and better data across the board.
As real estate moves into a period of “dramatically soft demand”, success depends on the ability to make purposeful, thoughtful decisions based on real data and forethought. Increasingly, timely and informed decision-making will be the difference in the success of new home development, whether for purchase or purpose-built rental. We’re seeing this taking hold of the sector, as the industry’s interest in consolidated systems and analytics-ready data grows.
Yet consumer demands for suitable product has not ceased. The ‘way things have always been’ can no longer be the reasoning behind real estate decisions. In order to succeed, real estate professionals — developers, brokers, managers, and more — need to pay mind to the solutions and staff that can take them into the community-minded, technologically supported future.
Via Spark Blog