The real estate industry trends have undergone an unprecedented transformation in the past few decades. The developments of technology in the property industry have changed the altogether operational sphere. The potion of digitization has been absorbed to such a significant extent that a mere click can take the buyers on a tour to visit their property through online portals. Whether a homeowner is in search of a real house in a new city or a real estate agent planning to expand his client-base, the new tech-trends have already added ease to all the real estate processes.
As far as the projections of upcoming years are concerned, the tech-trends are in-turn expected to tremendously affect the overall real estate industry trends. For 2020, the following developments in technology in the property industry are among the most impactful.
Tech Developments in Real Estate Industry
These are some of the top tech trends and recent developments to watch.
Online Real estate platforms
The basic idea of the real estate platform is to make it easy and intuitive, the process of selecting the best and buying the desired properties. If an online real estate portal has a smooth navigation mechanisms, the investors find it to be an easier and quicker way to land at their desired properties without all the hassle. If you are selling a house in 2020, you may not need an agent, rather just through a series of clicks, you can pave your way through. The online world has more clients, clicks, and views than the off-the-internet world. This is why your listings are likely to be viewed by a bigger client-list and therefore a bigger deal can land on your side.
Trending Mobile Applications
Mobile phones are the real game-changers of the tech-century. The whole world is, in a way, present on the palm of your hand. Such convenience is a by-product of the rising technological advancements. Today, buyers and sellers of property have a centralized platform in the form of real estate online portals. These platforms are present in the form of mobile apps, for example. Sirmaya.com, and they have updated databases to suit the demands of buyers, tenants, and sellers. Whether your search is about discovering a hot-seller apartment, finding an agent, or notify maximum end-consumers about your new listings, these real estate mobile apps are your go-to one-stop solution in 2020.
Tokenization and Blockchain
Acquiring benefits from the process of tokenization, now land-holders are using the blockchain to sell specific contents of ownership in their properties. The real estate transactions between the buyer and seller are today completely encrypted and are covered by a layer of series of built-in legitimacy checks. Security has been possible due to the introduction of block-chaining mechanism.
Breakthrough via Virtual Reality
In 2020, virtual reality is a part and parcel of almost every growing industry. It has the required potential to take the real estate industry trends to a whole new level. Virtual reality can allow home buyers and tenants to virtually walk-through the properties they seek to invest in. Viewing your property is an essential step before you end up investing your hard-earned money in a piece of land. Especially, if you are planning to buy or rent a home or office space in a new city far from your present residence, it is recommended to walk-through the online portals that have the required data and images of your property.
Machine Learning Algorithms for Profit Calculations
If you want to invest in a property for earning a return on capital, or if you want to start a real estate business- in either case, you are more concerned about when an how your property will start producing the much-longed ‘gold-coins’. In 2020, technological advancements have made it possible to predict and analyze your investment-picks in order to mark their projects for upcoming years. The ROIs are anticipated through machine learning algorithms and analysis of big databases. These algorithms help in skimming out the best of the best real estate deals hovering the areas you desire to invest in. Thus, investors of this era have the required gadgets to lead their ways to smart investments.
The personalized recommendations by online platforms are no less than a game-changer in the real estate industry. The real estate agents now know what their client wants and can browse through the big databases of online portals to present them with the most suitable options. Such intelligent recommendations, not only save time and money, but also keep away the hassle of finding a perfect property.