Published on July 25th, 2016 | by Guest

New opportunities for tech-enabled innovation in real estate

Even though many realty companies and realtors still adhere to old-fashioned practices, the good news is the youngest and the savviest can understand the perks of advanced technology in this industry. New tech breakthroughs are developing monthly, and soon enough buyers, investors, professionals and sellers will need to adapt if they want to live up to the competition. Knowing what’s going on online and trying to understand that technology is just attempting to help is a first step towards embracing a whole new industry – the tech-enable real estate industry.

What to expect

In order to grab the attention of clients and really make people perceive you as a real estate professional, you need to understand how technology can help this industry. According to experts, the industry will be ruled by advanced technology this year. The latest trends are genuine game changers, and the best way to grab people’s attention is through new, efficient and convenient techniques. 3D printed keys have started to gain a lot of attention. Since security is a popular topic, consumers want to stay safe; however, they also want be able to send the keys to their house to a friend or relative without having to worry that it might end up in the wrong hands. This new technology has not yet been implemented. The benefits are there, we just need someone to put the idea into practice.

GPS & cloud computing

For many, GPS is no longer something they’ve never used or seen before. The technology is already widely used for geo-targeting. Thanks to this service, realtors are able to market their business straight to the customer. Major retail chains are using GPS to notify their clients about special offers, especially when that client is located nearby. In real estate, the technology can also be used to alert buyers whenever a listing that matches their preferences is in close proximity to them.

Cloud computing is also winning ground in real estate. Soon enough we’ll witness the materialization of shared clouds that both agents and clients can use. By introducing this technology into real estate, all home data will be digitized and made readily available for people to use. Shared clouds allow people to be in control and have access to secure data remotely; however, it also makes sharing information between agents, buyers and sellers a lot easier.

Increased mobility

Even though smartphones are rather common these days, the fully capacity of mobile technology has yet to be leveraged in the real estate industry. Increasingly more presentations are viewed on mobile, thus making checking out properties from a smartphone become a standard practice. Mobile has the ability to change the real estate industry completely; however, to do that it must provide agents that can reach customers remotely on their smart devices.

Commercial real estate (CRE) is mainly a mobile industry. Most leasing agents spend hours in the field, trying to persuade people to rent or buy. However, there’s still no dedicated mobile technology for commercial real estate, and if you want to rent a mall or a warehouse, you certainly won’t find a deal online. Residential properties on the other hand, are extremely popular on the web. In fact, people are buying houses from the web and renting places without even get a good look at them.

Social media will keep impacting the real estate industry. Even though many realtors already use the platforms to market their services, in a few years even more with go mobile. Mobile messaging and video services are going mainstream. Companies like Trulia and Zillow help people find the best homes, as well as check to see if the surrounding area is a nice place to raise a family.

Prior to investing in real estate – whether for business or personal purposes – investors must assess their options carefully. Not everything you see online is what you get in real life. In spite of the fact that certain technologies are extremely precise, you can never be too sure that you’ve made the right call from the other end of a screen. From an investment perspective, the internet has become the best platform for advertising your services. And yet, the World Wide Web is not 100% secure either.

Article credits: By William Taylor and PropertyTurkey.com!

Tags: innovation, new, opportunities, real estate, tech