Technological developments in recent years have shifted nearly every business, and real estate is no exception. The practice of listing, seeing, purchasing and selling properties is now more compact with listing sites, e-signed documents and mobile programs.
As newer technologies such as virtual reality and blockchain continue to break into the mainstream marketplace, real estate professionals view a vast range of possible applications for the business. This article will reveal the ten technological tools and programs that are sweeping the real estate industry, and we will talk about why they are so exciting for real estate professionals, and how they will impact real estate buying, selling and investing.
Tokeet is a superb program that can help you handle multiple vacation rental properties on several different sites from a single platform. It removes the issue that a lot of commercial property agents run into, which is trying to navigate their way through emails, messages and different calendars trying to figure out which property they are meant to be at and who they are showing it to.
2. Artificial Intelligence
Artificial intelligence is the next generation tool that will look after ongoing prospecting, lead generating and old fashioned customer service. AI is so complicated that customers can get information instantly and brokers may have a personal assistant working 24/7 in the weekly cost of their daily Starbucks latte.
3. Technology Increasing Transparency
The most exciting development seen in real estate technology as of late is technology allowing transparency. Borrowers and agents alike benefit from more information during the transaction process, and fintech-driven creditors are building better companies for many parties around technology that provides increased information sharing in a reporting dashboard in addition to speed and efficiency.
4. Data-Driven Insights
A growing number of tools are becoming available that yield insights on which spaces really bring value to tenants. Whether it be commercial, retail or residential space, understanding — and measuring — how space has been used is vital for maximizing the tenant experience. This will assist investors, developers and end-users to optimize value and can be built into a web design.
5. Deal Management Platforms
These technical platforms are data troves for investment companies to develop and leverage a database of each deal they have ever processed. It not only adds real value but also delivers critical enterprise risk management that companies need. With structured deal information, companies can measurably increase worker productivity and decrease errors in underwriting and due diligence from a UI that teams need to use.
6. Virtual Reality
Despite making significant strides, virtual reality has hardly touched real estate. The industry as a whole is eager to see more straightforward, stronger solutions come to market that enable clients to genuinely experience a home without setting foot into a physical space. A web agency or in-house developer could place the virtual tour data of a listing onto the company website. This will cause less time wasted touring properties and quicker closes.
7. Automated Valuation Models
Since the real estate cycle evolves, investment business will require a quicker way to determine whether a deal is worth pursuing. Automated valuation models (AVM), like what Enodo supplies, allow users to rapidly produce revenue and expenditure information required to analyze a bargain. AVM will permanently alter the analyst function within the sales management system by increasing both efficiency and objectivity.
8. Rogue Platform
The Rogue platform will enable investors and agents to perform their job from the comfort of their home or a coffee shop. A few of the tools include a library of hundreds of movies, webinars and live streams. An internet contract signing tool, performance monitoring dashboard and property advertising blast feature are also available. This is going to be a revolution to property as we know it. – Engelo Rumora, List’n Sell Realty
9. Geo And Social Media Advertising
Realtors are excited about the geo and societal advertising opportunities growing in real estate in 2018. Snapchat, Instagram, Google and Facebook are offering more targeted geofencing advertising opportunities so that real estate agents can aim the offices of my their competition or possessions being shown with their advertisements to hit investors or buyers in their mobile devices with the company’s messaging as they’re touring another property.
10. Electronic Notary Functionality
A tool that is gaining popularity is Notarize, offering digital notary services. Realtors do practically everything by digital signature, however certain financing documents require the presence of a notary to finalise property acquisition. With Notarize, this can all be carried out virtually and safely through your notebook computer, eliminating the cost and hassle associated with coordinating wet signatures.