Could the rise of artificial intelligence signal the demise of traditional real estate agents? Experts believe that AI has the potential to revolutionize the industry, as it can efficiently analyze market data, handle customer inquiries, and even offer virtual property tours. With automation at its core, the role of real estate agents may shift towards a more advisory and strategic function, providing personalized solutions to clients. Is this the end of real estate agents as we know it? Only time will tell.
In a positive shift for the retail sector, rental prices have shown signs of a turnaround. After a prolonged period of decline, retail rents have experienced a modest 0.3% quarter-on-quarter growth in the second quarter of 2023. This represents a significant reversal in the trend and offers hope for the industry’s recovery. Experts believe that factors such as increased consumer confidence and improved economic conditions have contributed to this encouraging development.
According to global property consultancy firm Knight Frank, the auction market is expected to gain momentum in the second half of 2023. As the economy recovers and uncertainties ease, experts anticipate an increase in property sales through auctions. This positive outlook is driven by renewed buyer confidence and a desire for property ownership. The anticipated uptick in the auction market is seen as a promising sign for the real estate industry.