Do you enjoy keeping up with the latest tech trends in real estate? 2017 has some cool stuff in store. Read to see 5 real estate tech trends to look out for.
Ever since the digital camera and the world wide web wedded to make virtual tours possible, contemporary technology has revolutionized the real estate business.
Some might be afraid that technology and automation will make their jobs obsolete.
And in some fields, that's true. Some jobs have disappeared.
But in the real Estate Industry, technology is a boon to success.
When the above-mentioned virtual homes technology came along, it saved real estate agents time in the long run.
People could now go online and weed out the houses that didn't even remotely suit their needs.
Real estate tech is improving agents and customer's lives left and right.
1. The Next Level Of Real Estate Tech: Virtual Reality
In the nineties we watched movies like The Lawnmower Man, Virtuosity, and The Matrix with bated breath.
We really believed virtual reality would be possible in that decade.
And while advancements were made, nothing great came to the consumer market.
Sure, we had versions of it in the real estate market. Virtual tours, like we mentioned before, filled the gap nominally.
But then, 2012 came along, and a kid by the name of Palmer Luckey changed the direction of virtual reality forever.
Now, in 2017 we have the Oculus Rift, HTC Vive, and the PlayStation 4 Headsets.
Along with some mobile applications by Google and Oculus that use our cell phones, virtual reality is here. And it's quite grand.
And it's taking the Real Estate tech market by storm.
Architects, designers, and realtors are leveraging the technology to put themselves and their clients in homes and creations that don't even exist yet.
With virtual reality, a client could be in France and see a mansion in Beverly Hills.
It's a truly incredible technology, and with the prices already dropping, it will be all over the place soon.
2. Big Data
A realtor depends on a lot of data to gain leads, to find out about selling and buying trends, to understand crime rates and the favorability of certain neighborhoods.
But the most important of those if finding leads.
With the ubiquitous use of social media, we now have access to huge stores of data on people.
This will help realtors in a big way with finding and following up with leads.
3. Marketing Automation
Talking about the internet, what if you could have a computer do your marketing for you?
With machine learning on the rise and integrated marketing automation a hot ticket, it's the best time to outsource your marketing and save time.
4. Blockchain Real Estate Tech
This is an emerging technology, and we don't know much about how it will affect real estate. But a few governments are experimenting with it's implementation in land records systems.
So be on the lookout for blockchain.
5. IoT and Smart Homes
Again, the 90's made us enamored of the idea of a smart home, but the late teens have actually brought it into existence.
Imagine all the appliances in a house connected and efficiently running by themselves. Imagine the ROI your clients could get on improving their houses with this tech.
It's a great time to be involved in real estate. Real estate tech is going to change everything.
What are some ways real estate tech has changed your business? Let us know in the comments below.