Technology has pretty much revolutionized every industry on the face of the planet, and real estate is no exception. There are dozens of emerging technologies that can help change the face of the real estate industry and make the process of buying and selling simpler and quicker than ever. From digital marketing to AI and virtual reality, here’s how tech is shaking up the real estate industry all over the world.
The days of placing real estate ads in the local newspaper are fast approaching their long-awaited end. With platforms like Facebook, Twitter, and Instagram, you can gain access to thousands of potential buyers with a single post. With this level of potential, there’s no limit to what you can accomplish.
Social media marketing also helps you to interact better with your customers and narrow down a more specific demographic to market to. Whether you’re trying to reach first-time homebuyers or those trying to sell their homes, social media can help you narrow down your efforts and provide a more specialized marketing platform.
Instagram is especially useful for this type of marketing. With the ability to SEO optimize posts with hashtags and create stunning images of for your listings, you’ll appeal to lots of potential buyers in your area.
Augmented and Virtual Reality
First, let’s talk about augmented vs. virtual reality. Augmented reality is a form of electronic display that projects digital images into a real-life environment; think the popular mobile game Pokemon Go. Virtual reality is completely immersive, where users wear a headset which gives them a 360-degree view of an entirely digital world.
Imagine the possibilities you could achieve in real estate with this type of technology. House showings would never be the same; potential buyers could project their desired changes to the house right into an app or software, getting a clearer idea of what the home will look like once they’re moved in.
Virtual reality is already making its way into several industries, and it’s only a matter of time before it finds a home in the real estate industry. You’d even be able to give potential buyers a remote tour of the new home from halfway across the country with some virtual reality programs!
Artificial intelligence will also likely find a home in the real estate industry. From predicting market trends to analyzing heaps of data in minutes, AI is already making strides and working to create a more digitalized world. AI will also be able to help you match your listings with the perfect buyers, analyzing data with specific algorithms to match buyer preferences and listings in the blink of an eye.
AI will no doubt play an important role in the future of the real estate industry, and we’re excited to see where it goes from here. With plenty of startups working on creating a better AI, the race to the top has begun, and it’s only a matter of time before we see AI implemented in systems all over the globe.
More Data Available
With the worldwide web, there’s more information available than ever before on real estate, the market and its trends, and more. Buyers and sellers alike have access to everything they’d ever need to know about a home or commercial property; from when it was built, who built it, and who previously owned it, to facts like market value and neighborhood value.
With so much data available, we’re seeing a much more competitive and information-rich market developing; one where buyers know a lot more than they used to before going in.
Did you know that China actually 3D-printed an entire apartment building and several houses completely from a special 3-D printing material? This amazing advancement could totally reshape the way we create our homes and buildings, making the construction process easier and more affordable and possibly reducing the cost of property overall.
Experts agree that the real estate industry is in for some big changes, and with the advancement of 3-D printers, it’s easy to assume that the way we construct our homes will change as well. A more affordable constructive process could create a much more cost-efficient living situation for people all over the world.
Not to mention, 3-D printers can create life-like minis of houses and buildings, allowing for personalized blueprints and other planning methods for first-time buyers or builders.
Technology has come a long way in the last few decades, making strides that were never before thought possible. With all of these amazing improvements, it’s easy to assume that markets of every kind, including the real estate market, will benefit from things like AI and virtual reality programs. Keep a close eye on the tech world in the coming years and watch just how quickly things will change as new technologies are developed and adapted.