How AI, VR, Mobile Apps and Blockchain Are Creating Real Estate Market’s Future

Since technology came into the world, it has basically disrupted everything it touches, sometimes for the better, but not always. It has made humans better at delivering simple services that used to take weeks, months, and in some cases even years.

One industry that is harnessing the power of technology to create a better atmosphere is the real estate ecosystem. Undoubtedly, the real estate market has changed considerably over the past two to three decades. Much of this change has been due to new technology.

Aside from relying on digital sources to rent or chat with realtors, technology now allows you to sell a house easily and without the high level of stress that used to be the case in the past. Whether you are a real estate company, a realtor, a homeowner looking to sell a house, or hoping to get an empty property occupied, there is no better way than with the use of technology.

Below are some technologies that are helping us find our way through the real estate market so that we can sell properties faster and more effecticely:

Real estate market image 49392939495Blockchain

Since the introduction of Blockchain, it has changed the way we do business, especially as it eliminates the intermediary, i.e., the middleman. It allows you to interact directly with the consumer or merchant.

Even though this technology is still gaining ground, it has established a powerful tentacle in the real estate industry and is creating a platform of transparency, efficiency, accountability, and swiftness when it comes to clients looking to sell a home.

Artificial Intelligence

We can’t do anything without artificial intelligence and machine learning somewhere in the equation. These technologies allow you to filter your searches and narrow down to the specifics of people that want to buy a property, enabling you to sell a home faster to the right buyer seamlessly.

Put simply, AI and machine learning are allowing the players in the real estate marketplace to make smarter decisions more quickly and without wasting financial resources.

AI stands for Artificial Intelligence, which refers to software that makes smart machines like computers and robots think and behave like human beings.

Virtual Reality

Virtual reality is not just for video games anymore.This technology is making waves in the real estate industry, especially among homeowners looking to sell a house to remote buyers who can’t physically drive or fly down to the location to see the home.

Virtual reality in real estate relies on 3D graphics and drone technology to give clients a 360-degree view of the entire property. Buyers get the experience of visualizing the space of each room and even the view of the neighborhood. In other words, without physically being there, you can go on a tour of the house and then check out its location from every angle.

Mobile Apps

All of the major real estate portals (Redfin, Zillow, Realtor) have their own apps, as do many major brokerages.  For home sellers it became very important to pay attention to how your home appears on the small screen, according to UpNest.

With the increase in mobile phone and online interactions, the real estate app is gaining a new audience from people that rely solely on apps to get the word about a property as a marketing tool. Not only is this process cheaper and more transparent, it also saves on costs and time. Mobile apps allow you to get in touch with realtors, compare prices, and make quick deals.

Technologies such as big data, the share economy, and a host of others are also making the real estate market easy to understand and participate in for the average person. It is all a question of choosing the righ app; one that makes the whole process straightforward, easy, and fast.

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