A business sector that has seen tremendous growth within the last ten years is real estate development. There has grown a large movement towards modernizing properties and green energy practices within both commercial and residential real estate development. Ralph Bawtenheimer, a property developer with more than 30 years of experience founding and operating real estate development companies such as Dorian Development and Write Meyer Contracting LLC, understands the importance of modernization. Over the course of his career, Bawtenheimer has taken numerous steps to ensure his properties utilize the property development industry’s latest advancements. Below Ralph Bawtenheimer will discuss the modernizing steps real estate development has made and what aspiring real estate entrepreneurs should know to keep up with the property development industry’s advancements.
Social Media Marketing
For many modern real estate development companies, social media has become their greatest marketing asset. Currently, the real estate development hashtag on Instagram has over 270 thousand posts, and the real estate hashtag has an additional 44 million. There is a growing number of people who use social media not only for entertainment purposes but also to view properties. Recent studies have shown that Instagram users have higher salaries than those who use Facebook or Twitter, which means Instagram is an excellent way to reach target demographics.
Smart Homes
Real estate developers often incorporate the latest technology within their homes to give their properties a leg up on the competition. Within the past few years, the public has seen a shift in the property development industry to fully automated homes. These homes frequently have an automation system that will allow the user to control lighting, climate, appliances, and entertainment with the touch of a button. The value of adding an automation system to a home has been reported as being as high as 5%, meaning if a home would traditionally sell for 400,000, you would add an additional 20,000 to the home’s value.
Sustainable Homes
As many residential developers know, sustainable homes not only give out a lower carbon footprint, but they can also be sold at a premium. Green buildings and LEED-certified homes are highly sought after by conscientious buyers; however, the demand for these properties remains high as so few homes can meet the LEED standard. Projections for the real estate development industry foresee sustainable homes as the future of the industry. For this reason, developers looking for an edge on the market should consider a sustainable home for their next project.