Business Trends For 2016

2015 has been a crazy year, filled with excitement and ups and downs.  It might be hard to believe, but the new year is almost upon us, and it seems that a lot of the business trends of the past year shall continue.  I recently came across an article that discussed some of the year’s highlights, and how you can leverage them in 2016.  Listed here is what this article had to say:

Internationally expanding your business: Not being a part of global real estate means missed opportunities.  This doesn’t just mean plugging into a global agent or broker network, but translating marketing materials into multi-lingual websites and brochures, having multi-lingual agents and understanding how people in different parts of the world do business.

The sharing economy: Having just an office and a great website isn’t enough.  Global connections helps to make you part of the Sharing Economy, which promotes peer-to-peer-based sharing of access to goods and services through community-focused online technology platforms.  Uber and Airbnb are some of the companies leading the way in this field, and the concept is just starting to introduced into the real estate industry.

Keeping up with consumer expectations: While there has been more attention paid to this, it’s still a relatively new concept in the real estate industry.  Agents still rely too much on independent contractors to consistently deliver a great experience before, during and after a sale, although the sad fact is that it doesn’t always happen.

Promote your performance at the hyperlocal level: Positioning yourself as an expert in local markets is a great way to stand out against the competition, both local and national.  Instead of talking about how great your company is, talk about the information about the market that you have.  This is one of the foundations of delivering a great consumer experience.

Responsive design can’t be ignored: While responsive design has been around for years, in 2015 it appears to have really established itself.  Mobile usage has skyrocketed and now directly affects how the real estate industry communicates and collaborates.  If your site isn’t built on responsive, mobile-friendly design, then your clients won’t have a good experience and could look elsewhere.  Google’s algorithms will recognize if you aren’t responsive, which in turn will damage your site’s rankings.  If you can be an early adopter of responsive design, your site will look great and give you that edge over your competitors.

Digital marketing is cheaper, faster and better: Although this one seems obvious, brokers aren’t always quick to pick up on it.  Using digital marketing means tracking analytics, trends and other important factors to help you save money, run your business better and make the right choices.

Pittsburgh a Winter Wonderland for Renters

Even when Pittsburgh isn’t 60 degrees in December, the city is full of fun options for young city residents. With an abundance of activities geared toward youthful city denizens, the city has transformed itself year-round into a place that appeals to younger residents. At Jason Cohen Pittsburgh, we invest in properties that we subsequently rent, often to twenty- or thirty-something residents who are flocking to the city. For investors looking to rent their assets, Pittsburgh is an optimal location and the abundance of initiatives that attract young residents ensure that the city will continue to thrive for landlords.

Pittsburgh offers of an array of winter activities for fitness enthusiasts to be outdoors even in the winter months. Several holiday-themed 5K races as well as yoga events keep active folks busy outdoors even when the temperatures dip. The ice rink in Schenley Park offers adult-only skating on Friday evenings for those who want a peaceful night on the ice. The annual Polar Bear Plunge is a chance for cold lovers to dive into one of the local rivers and prove their mettle.

Winter is also the time for beer festivals at the convention center where craft brew enthusiasts can warm up from the cold by tasting the interesting ales, lagers, and the like from the region and beyond. The South Side will even host a chili cook-off and street festival. The Pittsburgh winter can’t stop the quarterly gallery crawls downtown, nor the monthly low-bey Unblurred on Penn Avenue.

In addition to Pitt basketball, the city offers other affordable sports entertainment for younger residents. The Penguins offer discounted tickets to students to enable the city’s youth to experience hockey at Consol Energy Center. The Student Rush program epitomizes Pittsburgh’s commitment to making the city an attractive place for young people to live and rent.

As real estate investors, we at Jason Cohen Pittsburgh strive to make our repositioned rental properties appeal to these young residents that have been part of an influx to the city. We strategically invest in properties in areas of the city that appeal to a younger demographic and renovate, adding amenities to suit their active lifestyles. From the activities being offered this winter, we think that this trend is catching on. The city’s amenities make it attractive to young renters, therefore a great place to invest in rental properties.