A panel of Forbes Real Estate Council members recently shared some of the changes they predict will happen to the real-estate industry in 2019. Here are five changes they think are coming:
- Networking. One panel member said that due to increased competition in the industry, he feels the best opportunities will go to investors with the best networks. Strengthen your team of professionals, and make sure you have a good rapport with your broker.
- Technology. As more investors vie for fewer deals, those leveraging technology effectively, including AI, will have a competitive edge.
- Tech-Enabled Services. Multifamily developers will increasingly offer tech-enabled services, such as tenant portals, to create a personalized experience for each resident.
- Interest rates. Rising interest rates will create uncertainty and may impact profit margins.
- Joint ventures. More developers will join forces with owners of commercial properties to do redevelopment deals and reposition properties.
To read all the changes predicted by the Forbes panel, visit www.forbes.com/sites/forbesrealestatecouncil/2019/01/22/14-ways-the-real-estate-business-is-going-to-change-this-year-according-to-experts/#18b864a315d5.