Find out how these 5 tech trends positively transformed the real estate industry

Real estate has always been embraced by technology. But the last decade witnessed a revolution in terms of technologies developed especially for the real estate industry. This revolution is affecting the industry’s growth and evolution, but how?

Let’s find out ..

Online Listing

In the decade, searching for your home online became the norm. This tech is now available as websites & mobile Apps. Most of home buyers between 23 and 60 years old found their homes online.

Simply, it is convenient. Saving time, Save money and it is a reliable data source.

Online listing enables the sellers to reach & contact a wider range of buyers easily, and at a much less cost. Buyers can scan more potential homes in less time.

Also, it provides a tone of data about buyers’ behaviors & preferences for the selling agencies & developing companies.

Big Data

Combining historical and real-time data, using the power of data analysis is doing wonders in the Real Estate Industry now.

The data availability and the automated analytics are boosting the marketing strategies, minimizing the risks, improving workflow, supporting data driven decision making.

All of that shall benefit all the involved parties, developing companies, brokers, investors & buyers.

Virtual Reality

During the pandemic, the demand on the site home tours dropped dramatically. VR technology was a life saving line for the real estate industry. But VR technology has much more than that to offer, it enables buyers to purchase homes overseas.

Also, it has facilities showing pre-development properties and finished homes. Another service VR can offer is displaying any custom alteration or finishes requested by buyers.

Online Investing

It is a rising technology extended from crowdfunding, allowing investors with limited capital to invest in high-quality real estate. The increasing demand for this type of investment is leading to governmental regulation & more platforms offering the investment opportunities for the masses.

IOT

Another rising tech-trend is Smart Home technology. Enabling remote control of home aspects like appliances, curtains, lighting, and energy consumption. The technology made homes safer, echo-friendly, and more comfortable.

As the demand for automated homes rises, more real estate developers are implementing IOT in their new projects.

Benefits & Challenges

The technologies listed above offered so many advantages as:

Increased the data availability.
Improved communication and collaboration.
Enhanced the customer experience.

Despite this, there are a few challenges like:

Cybersecurity risks.
Fraud.

Mariem Elsaman

Marketing Specialist

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