A new year means new opportunities for all of our Realtor friends, but there are also new challenges and trends to be aware of. 

Here are five to keep an eye on in 2024:

    1. Technological advances: Expect to see AI used even more in day-to-day operations and learn to utilize it to your advantage. AI can quickly comb through data or information that you would instead have to spend hours looking through yourself. Thanks to AI, you can find new ways of forecasting what may be about to happen in the real estate industry and beyond. But as with any new technology, remember it’s a tool, not a perfect solution to all problems. 
    2. How to differentiate yourself. With rate cuts potentially coming and more buyers and sellers entering the market, competition will be picking up. People want to know why they should choose you to help them. It will be essential for Realtors to establish their own identity. (This article contains some excellent tips about how to stand out) 
    3. Buyers want more space: With the work-from-home revolution here to stay, buyers may be willing to forfeit some of their wants to have a larger home with more space for a home office. Many first-time buyers are also looking ahead to accommodate their growing families. 
    4. Environmental sustainability: Buyers want sustainable homes for many reasons, including attractive tax incentives and protection against extreme weather. Energy-efficient homes help residents save up to 35% on their eclectic bills and cut 40% of waste. 
    5. Inventory will continue to be an issue  Unfortunately, while experts predict that there will be more homes for sale with some new constriction of homes and apartments, the ongoing shortage may take years to recover from due to “more than a decade of underbuilding.” Keep showing prospective sellers that now may be a great time to list. 

One thing that hasn’t changed, though, is Transnation Title’s commitment to you and your clients. We’ll continue to ensure a simple, smooth and easy-to-navigate closing process. Contact us today and let’s discuss your next transaction.