Real estate and technology are two of a kind. Over the years, the world has seen a lot of advancements in real estate development and there’s no doubt that technology has had its toll. Technology cuts across every facet of our lives. Everything that we do has some form of tech attached to it especially if you want to do it with ease and there is no doubt that Real Estate has also been a major beneficiary.
From the comfort of your location, you can get any property of your choice in any location in the world.
Today, you do not need to travel thousands of miles away to buy a property. Likewise, you don’t even need to inspect the property physically. From the comfort of your location, you can get any property of your choice in any location in the world. With tech, potential buyers can see a live feed of their potential new apartment several thousand miles away from drone footage. Likewise, with so many new apps, buyers and sellers can comfortably interact and make purchases without breaking a sweat. Certainly, technology has had a positive impact on real estate and here are some of the techs that have impacted the most.
Blockchain
Banks, governments and credit card companies might not like this one but the technology has come to stay. Blockchain takes real estate transactions to a whole new level where buyers and sellers no longer need the services of any intermediary like banks and credit card companies. This tech employs both tokenization and smart contracts to provide buyers and sellers with an efficient, transparent and secure alternative.
Artificial intelligence
Artificial intelligence is gaining global presence and real estate is another sector that has been a major beneficiary to this technology. For example, Machine Learning (ML) is playing a huge role in helping real estate investors make smarter decisions. Through a process of pattern recognition, AI is employed to gather data, recognize patterns in these data to help forecast and calculate possible returns on investment (ROI). Certainly, it’s a win-win for real estate agents as this tech makes life a lot easier.
Personalized recommendations and big data
With AI, gathering data becomes a lot easier. Likewise, big data is the root of personalized recommendations and that is o doubt going to take real estate marketing into a whole new level. With all of these in place, real estate agents would be able to allow for personalized recommendations for clients, making smart and accurate recommendations as regards what the clients truly want (number of bedrooms, preferred location, amenities etc.). imagine being able to predict what a buyer would want in the future? This is what tech has brought to real estate so far.
Mobile apps
With billions of mobile phone users across the world, there are millions of mobile apps poised to make life better and easier. Likewise, in real estate, there are dozens of mobile app technology that creates a platform for buyers and sellers to meet at one point. Mobile apps these days offer the option to browse, buy, sell, secure agents, get notifications about future listings based on specifications and many more.
Certainly, it is clear that technology is shaping the world and real estate has been a major beneficiary.
