MASSACHUSETTS — The real estate sector is changing, and real estate investors are changing too.
The market has undergone a major transformation since the housing bust, and in some ways, it’s even more so for millennials.
There are more options for buyers and sellers, and that has been particularly evident in the housing market.
Real estate companies, including CitiGroup Inc., and brokers, like Cushman & Loeb LLC, are moving away from traditional practices and toward newer technologies and technology-driven products.
“The real world is changing and that’s a real shift for us,” said David Kallenbaum, president of the real-estate brokerage firm Kallenberg Kallenhof &.
The Real Estate Investment Trust, a unit of Citi and the investment-management company Cushmans LLC, said in a statement on Wednesday that its sales-force and sales-pricing platform, RealEstate, now offers more than 300 products and services.
It added that more than 2,000 new product offerings are available for real estate professionals to choose from.
The companies said it now offers technology-enabled products and software, which is a first.
Citi said it is adding a new technology-focused sales-agency product to its real estate portfolio and is also expanding its marketing strategy to make real estate agents more appealing.
The real estate agency market is expected to continue to grow in the future, Kallenburg Kallens said.
More and more companies are trying to sell their services online, which has opened up new opportunities for real- estate agents.
Companies like Kallberg Kallena, which operates real estate marketing websites, are trying more often to build relationships with real estate buyers and the agents they work with.
They said that with the rise of online marketing, agents are increasingly seeing an opportunity to earn more money through online advertising.
The real-time sales process and the rise in real estate agent commissions are changing the way agents sell their properties, said Robert DeMoss, a managing director at Kallendealth.
It’s a big change for realtors.””
That’s what we are seeing in the real world.
It’s a big change for realtors.”
While agents have seen their revenue decrease, Kalla’s Kallenease said they have seen the biggest revenue increase in the past six months.