Real estate has always been an industry dependent on technological development whether you are a real estate agent looking to sell more homes, a landlord looking to get more tenants or a prospective homeowner looking for your first real house, new technology shaping the real estate industry will affect your life significantly.
Most real estate dealers started using social media / Email marketing and other technology-driven platforms to communicate with sellers, buyers and the market.
The first question popping in your head must be that “how can technology be used in real estate”?
The majority of home buyers nowadays start their search online and few apps as a part of their home search which leads to further technology development in real estate.
and selling platforms
There were advancements in the approachability and functionality of real estate buying and selling platforms where the basic idea was to make buying and selling properties easier so that the homeowners could get their properties to the market quickly. You may also want to bypass the need of an agent by using any of these platforms.
One of the most important steps of buying or becoming a tenant is viewing the property but what if, you are moving to a distant city, or are unavailable during viewing hours? Virtual reality could easily allow prospective tenants or homebuyers to walk through properties.
learning and ROI calculations
With the help of the prevalence of big data and machine learning algorithms, real estate professionals will gain more knowledge about the ROI of each of their transactions. Online real estate marketplace helps its users streamline the home search process with personalization powered by AI. The system determines the expectations of the customer and recommends property accordingly.
Big data and personalized recommendations
Personalization has not been fully utilized in Real Estate Industry, but now agents attempt to personalize their client’s recommended properties based on personal wants and needs like the number of bedrooms and property locations. Big data in real estate is helping to predict trends, opportunities and strategies for the company.
IOT in real estate provides valuable insights into the property that can be used as an input for insurance, real estate management, and compliance. IoT is the future of smart home tech.
With the provision of 5G sensors & devices can communicate securely & consistently complete smart management of the place is possible. Security, energy, surveillance, maintenance, with all be automated and optimized.
From ordering food to booking a ride people like to do everything from their palms convenience. Extending that convenience to real estate, there have been several apps where you can buy/sell properties or find an agent and buyers can virtually meet sellers.
Real estate robots are not just beneficial for buyers but the agents too. Virtual assistants, voice bots or chatbots help consumers get immediate answers to all the queries in no time. Bots can start acquiring needs for you and automate next steps and conversations with your customers for lead generation.
Drones provide efficient and budget-friendly aerial photography that helps to create a better and more elaborated virtual experience. Drones images can also be used to enhance marketing.
Various real estate tastes have now become automated like data scooping, data processing etc. It is enabling real estate agents to deliver real-time customized marketing messages to prospective buyers