Today’s Top 7 Technology Trends in Real Estate
It is no secret that one sure shot method to stay relevant in any ever-growing industry is through disruptive innovation. If you are smart, you will get with the times and harness the power of technology, otherwise, you will just get left behind. Sometimes, you might not opt for disruptive innovations but your business will be disrupted nonetheless. This stands true for all industries across the world, including the real estate industry.
Discussed below are the most impactful technology trends that are disrupting the real estate industry in today’s market.
- Carbon Footprint Reduction
All countries around the world are looking for new ways and innovations to tackle climate change and any policy that can help the cause is being welcomed. Technologies that help to reduce the carbon footprint of any industry or company will continue to be in demand. Industries and corporations need to start investing more in clean energy technology. Real estate is a larger contributor to climate change and this is exactly why more public and private entities are heavily investing in this.
- Safer Buildings
Things have changed dramatically due to COVID. One of these things is building safer buildings for the occupants. This can mean a lot of things including, but not limited to, special HEPA filters with UV lights, touchless entry, and automated sanitization measures. Any new technology that ensures the health and safety of the occupants will most definitely be in demand as compared to the other buildings.
- Smart Access Control
As a property manager, it will look good for you if you have smart access controls. It literally unlocks a lot of opportunities for you like never before. People want the ease of access and they want it fast. Buildings that are smart are in demand today.
- Spread of Blockchain
Blockchain might be a young and fresh concept but has a high potential to radically change the face of the industry. Data is what runs the world now, including the real estate industry. Blockchain helps to identify that single chain or source of truth in the vast pool of data that is available. The data may become unreliable as well due to how many people come in contact with it.
- Automated Valuation Models
Automated valuation models or AVMs are now becoming the accepted usage for the standard of valuations. Real estate agents should get with the times and learn how to use and utilize both, the traditional and the AVMs for listing their modeling price on both, the listing as well as the buying side. We need to make peace with the fact that Artificial Intelligence is here for good and to stay.
- AI-Driven Marketing and Data Gathering
As rightly mentioned above, AI is here for good and here to stay. It is the future. The future of real estate also lies in marketing and data collection using AI. Verification is important as an overreliance on the wrong data can lead to complications later on. Those not using AI will be left with buggy and inefficient information.
- Tech Supported Contact-Free Experience
Consumer expectations have shifted over the years. Many want properties that are short-term while some for long-term. Some want their human interaction to be as limited as possible. Technology that supports such a short contact period is in demand. Keyless entry systems are just one such example. This will continue to be in demand in places that have no common unit and provide in-unit facilities.
Knowing all these trends must have created new to-do lists for you! We understand that it can get a little difficult to manage everything at the same time for your real estate business. That is where we step in.
As a full-service business partner, offering “Top-Rated” solutions in essential business verticals; LRF ENTERPRISES® has taken many forms in order to offer the best products and services to our B2B clients as well as our DTC clientele. Visit us today to get started!