Real Estate Technology

Technology has taken over the world and our lives. No wonder then it is all pervasive in modern homes. Technology in real estate has been around for couple of decades but the recent years have seen mush scrambling over smart homes and intelligent devices that can be controlled from anywhere around the world.

While the real estate and property industries may have been slower to adapt to changing technologies, they are catching up, and AI and machine learning will help make the data they are already collecting more actionable. Forbes

The next generation of real estate technology companies is taking a more expansive approach, dismantling existing systems and reimagining entirely new ones that address our growing demand for affordability, community and flexibility. Tech Crunch

What is interesting is the feedback, or the list of requirements, that the real estate agents and real estate brokers across the United States are getting from families hunting for new homes. Real Estate Brokers in Dallas confirm that the millennial families are extremely keen on acquiring a smart home. While this may be true for young families, the older ones are more keen to acquire a vacation home with intelligent devices for improved security as per the Real Estate Brokers in Orlando.

Virtual reality has been making headlines in practically every industry, but it could really start taking off for real estate in 2019 and beyond. One of the most important steps of buying a property or becoming a tenant somewhere is viewing the property, inside and out–but this can prove difficult if you’re moving to a distant city, or if you’re otherwise unavailable during normal viewing hours. Virtual reality (VR) could easily allow prospective tenants and homebuyers to walk through properties before buying, and it’s going to become more popular and more common in the next few years.

Even on the commercial real estate front, things are changing fast due to technology disruptions.

It’s no secret that remote work is on the rise, and the sharing economy is growing with it. Rather than buying a car, why not lease one (or take a Lyft, GetAround, or a Spin scooter?) Instead of purchasing furniture for your startup office, why not rent some desks for a year before your team outgrows the space? Since people are less concerned with owning physical goods and properties, a new crop of businesses have sprouted around the real estate industry to facilitate mobile and shared lifestyles. FrontApp

These trends are confirmed by the Real Estate Brokers in Miami as commercial real estate is quite costly and scarce in a place like Miami or Houston, as also confirmed by the Real Estate Brokers in Houston. This trend is also seen in places like Chicago wherein some Real Estate Brokers in Chicago has confirmed that the demand for shared commercial real estate is steadily on the rise.

When tech and real estate collided, a new industry was born: proptech. It attracted $12 billion in venture capital in 2017 and even more in 2018 — though at the start of 2019, adoption still lagged. So far, investors have seen more potential in budding proptech than consumers have. BuiltIn

Owning a real estate property is everyone’s dream as it is a validation of one’s capabilities and potential. Technology, perhaps, adds the much needed zing to the otherwise bland topic of land and buildings!

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