When a lot of people think about the property market, they usually picture the old school experience, with a simple viewing being all a potential client will get before they have to decide whether or not they want a place. Nowadays, though, the property industry has changed. Gone are the days of having to wait to get the keys before exploring your place properly, as tech has finally hit the scene. The integration of technology into real estate is a complex and daunting one. So, to help you out with this, this post will be exploring some of the most prominent real estate tech trends of the modern age.
Websites And Marketing
While this isn’t exactly a new thing, the way that a real estate company will use their website has changed quite a bit over the last few years. Nowadays, these places aren’t simple directories which are designed to help you find a place. Instead, they are content rich experiences, many of which have a lot of information which doesn’t make them any money. All of this is in the name of marketing. In the modern world, all kinds of businesses have to fight to get their voices heard on the Internet, and it can be hard to achieve what they need to if they don’t have a good site to match.
VR, Drones, And 360o Cameras
Video tours made a brief appearance on the scene in real estate, but were quickly overtaken by waves of new options which are far better for the client. Enabling people to view a property while on the other side of the world, this new tech is shaping the way that homes are sold. Below, you can find some examples of the tools which fit into this category.
- VR: Virtual reality has made a storm in the gaming and entertainment world in recent years. Creating a video tour which is suitable for this sort of platform is incredibly easy, cheap, and simple to deliver to the client. Enabling them to see the whole place without having to move from their office or home, this gives agents loads of power when people are unsure about a place. This can often be done with the basic VR headsets which take a mobile phone, making it nice and cheaper for everyone.
- Drones: Taking photographs of a large property won’t always be able to show off what you want it to. With a drone, you aren’t restricted like this, and should be able to keep on meeting up year after year. This can be particularly good if there is a large piece of land which the client wants to see, as you are able to fly the craft high in the sky and over long distances, taking everything in.
- 360o Cameras: Giving a similar look and feel to VR, 360o Cameras are best used in a single room. Enabling the user to click and drag to move the perspective, this is very easy to control, and anyone should be able to use it. Of course, it can be quite expensive to set up, as the camera systems which have to be used are very complicated.
Market research is important in almost every industry. To be able match what your customers are looking for, you first have to know what exactly that is. As a big part of this, the next few years is likely to see a huge rise in the use of machine learning and AI in real estate. Enabling very direct marketing, along with the ability to produce incredibly lifelike chatbots, the power of AI is yet to be uncovered in this industry.
This sort of work can’t be done using a normal computer. Instead, you need a machine which is built for cryptocurrency mining or digital research, as this will be enough to power to get answers within a reasonable timeframe. This can be very expensive if you don’t handle is correctly, and it can be best to opt to outsource server farm jobs rather than trying to build the systems to cope with it.
As the last area to consider, not a lot of people realize the power of the blockchain in real estate. Nowadays, these two fields are going hand in hand, with the smartest agents utilizing it as much as possible. There are a couple of different roles which the blockchain can play in this sort of scenario, and you can find some examples of them below.
- Transaction Security: Thanks to the anonymous nature of transactions occurring on the blockchain, you never have to worry about your bank details finding their way into the wrong hands. Likewise, transactions can easily be kept secure with a third-party and an escrow system. Companies like IHT can help you with this, giving you access to loads of tools. Of course, though, keeping things silent isn’t always the best way to handle business.
- Sharing Records: As the bigger benefit of the blockchain in real estate, being able to centralize sales records and the status of properties would give the people on the ground loads of power. The blockchain makes this possible, giving access to a huge space to share data. This side of the process has to be secure, though this is down to users to make work. When it is all running smoothly, this sort of process can shave weeks from the regular process of buying a property.
Hopefully, this post will leave you feeling well informed about the tech being used in the modern real estate industry. This field has been growing loads over the last few years, with a huge array of new ideas coming out of it. Of course, while it may be hard to keep up with, there are loads of resources out there to help you. Research is one of the most important parts of this, often making or breaking your chances of success, and you can find some good blogs to get you started.