New York, USA (CNN) – As vacant apartments accumulate in major cities, real estate agents are increasingly turning to TikTok to attract young people to rent properties that were considered great by pre-pandemic standards.
Often city dwellers, or those who aspire to live in cities, flock to apartment display sites to discover listings of apartments for rent. However, some interested people now say that they find apartments on the video-sharing app TikTok, where brokers are offering more comprehensive videos, enabling potential tenants to “walk around” in multiple apartments in just a few minutes.
Timing is key, as with thousands of people leaving major cities, rents have dropped sharply during the pandemic. This is where Tik Tok comes in.
Cash Jordan, a real estate agent at Union Square Property Management, says the videos are “just an explosive way to help people, even people who are considering moving to here (the cities), and make them feel comfortable with the process.”
The “Tik Tok” platform has an important advantage over real estate websites, which is the comment feature, which allows conversations to start about the listings offered. Jordan has gained more than 540,000 followers on the app over the past year, saying that the response to his videos was “exceptional”.
Alexander Zakharin, General Manager at GZB Realty, says December 2020 was the busiest month in 12 years for the New York rental market. Zakharin, who has more than 78,000 followers on TikTok, added that a large portion of his clients are people in their twenties who live with their parents during the pandemic and are looking to move into their own apartments.
Maddy Hyatt, a 25-year-old social media editor, found her apartment near Herald Square in New York while browsing TikTok. Hayatt says the process helped her find quality apartments that matched what she was looking for.
TikTok provides users with a more dynamic discovery experience, as the application’s algorithms display videos designed according to the user’s preferences and interests, based on the user’s interaction with the content on the platform.
This new trend shows that the real estate industry in general is taking advantage of the opportunity to adapt to the changes imposed by the epidemic on the industry, and some of these changes may lead to a transformation beyond the period of the epidemic, which may make an old and very traditional process easier.
“We’ve finally got to the core of a business principle that the real estate industry has ignored for decades: it’s all about serving customers and finding new ways to deliver it,” says Zakherin.
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