Introduction to Design Thinking in Real Estate

When it comes to real estate, the needs of the clients come first. In order to identify these needs and to meet them, a process known as Design Thinking can be a useful tool to utilise. Design Thinking is a non-linear process of innovation and creative problem-solving. It focuses on the consumer and their requirements, and its non-linear nature allows for prototyping, feedback and revisions which work towards the best possible experience for its intended consumer. 

Design Thinking involves 5 stages: empathise, define, ideate, prototype and test. However, these stages may not always come after one another. They can be carried out simultaneously and revisited with flexibility. 

This process can be used to improve your skills in real estate. Through Design Thinking, we can question aspects of the customer home-buying experience, pre-existing marketing strategies and improve them. 

Stage 1: Empathise

The first stage of Design Thinking is to put yourself into the shoes of your consumer and think about their needs. By first identifying their needs and desires, the next step to Define potential problems that they face can be achieved. 

As a realtor, spend time talking to your consumers to get to know them well and better understand their needs. 

Stage 2: Define

In the second stage, information gathered about consumers using the Empathise stage will come into play. A problem statement which pinpoints the gap between the expectations of consumers and their experiences will have to be crafted in this stage. A problem statement should be actionable - this means being clear and concise, specific and measurable. You can think of the “why”, “what”, “who”, “when” and “where” when constructing a problem statement. 

For example, if your client is moving, why are they moving? What has motivated their search for a new property? What exactly are they looking for in their new property? Have they faced any issues in their previous property? On a larger level, if you spot patterns across various consumer experiences, a problem statement can help you identify common pain points and allow you to work on them. 

Stage 3: Ideate

In this stage, creativity is key. Think up your best ideas and your wackiest ones. After understanding what problem your client is facing, think out of the box to find novel solutions for them! Allow yourself to deviate from the norm and to look in places you haven’t before to think up something new. 

Stage 4: Prototype

Here, preliminary ideas are brought to life. Prototype versions of new products or services are often created in this stage before being tested in the final stage. In the realm of real estate, this might translate to running ideas through your clients or other professionals. If your client has specific wishes for their new property, you may be able to offer solutions based off your experience and after consulting professionals such as interior designers or architects. 

Stage 5: Test 

In the testing stage, the prototype is brought out into the real world and applied to the situation that it was created for. In this stage, you can collect data on the prototype’s performance and revisit the previous stage, rolling out new prototypes based off the results of these trials. 

In terms of real estate, this stage would constitute feedback from your clients. By “testing” out your ideas on them, you will receive valuable responses which can shape the direction to proceed in from that point forward. 

Design Thinking is a dynamic process which is flexible and encourages innovation. There is no right or wrong way to approach the various stages it is made up of or a correct order to go in. The process of innovation is best done when ideas can be tested, feedback collected, and revisions allowed. At BCD, we are open to new ideas and new ways of doing things. There is no one way to close a sale or to achieve success in the world of real estate. If being in a dynamic and creative team while being mentored by a real estate veteran sounds like something up your alley, feel free to contact us. Here, our focus is YOU.