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The Future of Real Estate? It’s Technical!
Real estate has surprisingly seen a massive boost in the last 18 months. While real estate is suffering from a recession, there is also a big race for space in many parts of the world. But what is the future of real estate? Let’s show you some major real estate trends that will make a massive impact in the coming year and beyond, and they all involve tech.
Smartphone Apps and Mobile Service
Smartphones have been great for businesses in any industry and will impact the real estate sector. Mobile apps have changed how real estate agencies operate. Not only does it allow customers to access information on properties, but it’s also been key to payment processes. Because customers are now looking to pay while they are on the move, real estate agencies can benefit from incorporating mobile payments. For example, this virtual terminal from Payanywhere has made it easier for customers in so many ways.
AI and Chatbots
The real estate industry needs to redefine how it generates leads. Generating leads is one of the biggest tasks in real estate as every little inquiry could result in a big bonus. But in order to get to this point, it involves a multitude of rejections. This is where AI chatbots can provide constant communication with clients in real-time. Chatbots have numerous benefits including multi-channel support, automated scheduling, 24/7 availability, and the ability to automate follow-ups. AI chatbots are invaluable in so many businesses, and in real estate, they will make a massive difference.
Augmented Reality and Virtual Reality
AR and VR will be big business for potential property buyers because they can get a personalized experience, no matter where they are in the world. An AR feature will help customers look at properties without visiting them and can compare different options while staying in the same location. Additionally, you can save time and money with this process. As you can show the look and feel of the space you don’t need to physically have realtors visit the property.
Smart Homes and IoT
The smart home has boomed over the last couple of years and if any property has an IoT (Internet of Things) facility, this will result in a greater market value. And this will redefine the real estate industry in so many ways. Real estate agents can integrate it into their marketing proposals and take advantage of this tool when it comes to selling.
The Blockchain
While the Blockchain is more closely associated with cryptocurrencies like Bitcoin, the Blockchain is a very exciting bit of technology to have in any business. It allows quick transactions and secure processes without the need for a middleman. Blockchain technology has been very popular in certain industries, but this might be the year that real estate truly gets to benefit from it.
If you are looking to bring your real estate business into the 21st century digitizing it is undoubtedly one of the best ways to help. Beyond mere emails, you can do so much more for your real estate business.
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Kaya Wittenburg
Kaya Wittenburg is the Founder and CEO of Sky Five Properties. Since the age of 10, real estate has been deeply ingrained into his thoughts. With world-class negotiation and deal-making skills, he brings a highly impactful presence into every transaction that he touches.
He is here to help you use real estate as a vehicle to develop your own personal empire and feel deeply satisfied along the way. If you have an interest in buying, selling or renting property in South Florida, contact Kaya today.
