How Tech is Changing the Real Estate Industry
Ever-evolving technology is revolutionizing the world and the real estate industry is no exception. Apps, digital signatures, smart homes and virtual reality viewings are just some of the new innovations shaping the emerging digital shift. But this doesn’t mean real estate agents are going to be replaced by robots just yet – but agents utilizing technology to enhance the consumer experience are front and centre.
Whether you are a buyer or a seller, you have most likely utilized some of the more common tech-driven tools that are making an impact on how both consumers and agents are approaching the market. Online listings have been a part of the landscape for some time but many sites are moving to apps which allow more control over personalized notifications along with tools to help plan and budget for your big move.
How you can view a home has been enhanced with the emergence of high-resolution 3-D virtual tours that viewed with a virtual reality headset make you feel as if you are really there. You can literally view and purchase a home – using secure digital signing – without even leaving the comfort of your current living room! These tools also make it so much easier for me to service my relocation clients as I can offer full services from a remote location. Augmented and virtual reality is also assisting developers showcase homes from development to completed before construction has even started.
Utilizing big data has also been invaluable in being able to provide my clients with the right homes at the right time. The introduction of artificial intelligence (AI) and Machine Learning is improving the real estate experience from the background using algorithms and analytics to improve the way prospective buyers are matched with properties and increasing the seller’s reach to the right buyers. AI chatbots can even help when setting goals and are able to assess risk and focus on the right paths to homeownership.
One game-changer that you will be hearing more about as the tech becomes more available is the Internet of Things (IoT) – the key component of home automation and smart homes. IoT helps automate the ability to control things around your home from curtains to lights to your coffee pot using a device or a simple voice command. Smart home technology will quickly become a search-criteria for buyers as it becomes more affordable and widely available.
The real estate industry is headed for a revolution and embracing the changes will only allow me to enhance the already stellar service I am proud to offer each and every one of my clients. Join me on Facebook and Google to stay on top of the latest and greatest in real estate new and innovation!