Trends in AI, online marketing, dark analytics, IoT, mixed reality, social media and video production have all influenced and will continue to strongly influence the way real estate is marketed and sold. There is strong evidence to suggest the market will leave behind many agents who fail to align with these trends. One can see this in the gap that exists between the so-called ‘Baby Boomers’, Generation X and Millennials, particularly in their different consumer habits. 

Millennials are far more prone to rely on their smartphones, online reviews, and social media to gather information on the best deals, promotions and product reviews. According to Entrepreneur Magazine, Millennials run to their smartphones as a primary means of connecting to the internet (89% of them use a cellular device to connect). Social media is, not surprisingly, the number one source for research Millennials use when searching for product information and customer reviews. Consequently, the more traditional ‘old school’ methods of marketing and advertising to which ‘Baby Boomers’ are accustomed (print, TV & radio) are much further down the list of priorities for the Millennial consumer, falling way behind digital advertising. Whether it's looking at customer reviews of a nearby Thai restaurant or reading the latest customer ratings for laptops, the Millennials are naturals at using social media and their devices in their consumer practices. 

Real estate agents MUST consider these trends when creating their marketing strategy if they wish to stay relevant with this generation of home buyers in the 21st century. One could make the argument that the more experienced and traditionally trained agents of the 'Baby Boomer' generation, who demographically make up the majority in the industry, are not entirely ready for these trends. The National Association of Realtors ® reports that the majority of Realtors ® in 2019 are made up of white, female ‘Baby Boomers’ (average age of 54 years).

Oddly enough, the report also indicates a gap in average Realtor's understanding and practice of using social media in their business. The vast majortiy of Realtors in the 'Baby Boomer' demographic are not familiar with 'vlogging'.  

To stay relevant in a dynamically changing marketplace, agents will be expected to think ‘outside the box’, tapping into the rapidly changing technology. They will be expected to think more independently, to be more autonomous, relying less on the traditional model of brokerages providing business and leads, which creates a dependency and egocentric approach to business, all of which has become part of the hallmark of this ‘old school’, ‘Baby Boomer’ margin highlighted in the NAR ® findings.

Millennial agents will bring along with them their natural social media instincts and technical savvy into the industry to appeal to an ever more increasing Millennial buyer market. 

To stay relevant in a dynamically changing marketplace, agents will be expected to think ‘outside the box’, tapping into the rapidly changing technology. 

Tri Corner Real Estate Institute was founded to assist real estate professionals and the newer millennial entrepreneur, making it more possible for one to enter the industry with less financial burdens and obstacles. By providing more options, more platforms and more choices, as well as a guided path through mentorship training, Tri Corner aligns itself with these trends in the industry. 

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