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The Latest in Real Estate Technology

Written by Posted On Thursday, 28 December 2017 09:34

Technology continues to play a vital role in how people lead their lives, and how they carry out business. It is, for that reason, not astounding to learn that technology is making a big impact on the real estate industry.

Close to 44 percent of all individuals in search of a realtor or associated services start the search on the web. With the continued use of mobile devices in conducting business, this figure is likely to increase. The following are trends and tools that are making an impact in this profession:

 

1) The Internet-Of-Things

The idea to connect smart home technology has continued to see more progress since Amazon and Google got into the fray. Given that these corporations have decided to push forward with IoT, expect The Internet-of-Things to find its way into many homes in the coming days. Very soon, asking the air for shipping confirmation or for a weather report will become a common thing. It is yet another advancement on how consumers can find the information they require.

Certainly, time will come when the search for a home gets into this realm. As more and more homes get connected to the web, there is a need to protect vital personal and business information from hackers. This is where encryption tools come in as you can never be too sure of who is snooping around your home Wi-Fi connection.

 

2) Virtual Reality VS Augmented Reality

Pokemon Go launched a few years ago using augmented reality and became an instant hit. Google and the New York Times followed this by launching and shipping disposable VR headsets to their subscribers for them to view content using this technology. This is only expected to become bigger as time progresses.

Home tours will soon be conducted using virtual technology. Even though the trend has already started and is being provided by sites such as YouVisit, we should be ready to experience virtual reality tours that do not rely on the use of special equipment or gear. It is a path that has already been charted by Google through its street view products. Street view enables you to tour a whole street by simply moving your cursor around.

 

3) Automation

Many of the tasks that require a human touch will start being automated in a year or two. Automatic content creation has already started this trend by launching AddressReport, and you can rest assured that this is a trend that will not die anytime soon. Automation is aimed at making individuals more efficient and productive than they have ever been.

Currently, 91 percent of realtors rely on social media to promote their ventures. 10 percent are already running a real estate oriented blog, while 62 percent have their own personal websites. All this means that more content is being created. Automation of this process will mean that more agents will become efficient.

 

4) Humanization of Big Data

The big data topic has been very hot in the past year. From creating a better customer experience to driving a business decision, big data has been seen to have lots of influence in all types of businesses. However, its quantitative foundation means that it can at times be unclear, confusing, and outright overwhelming when it comes to using it. 2018 is expected to humanize big data, which will make it easier to react, understand, and digest.

Residential real estate often relied on big data when targeting potential buyers. Soon, big data is expected to have an even more active role. For realtors using social media, this intelligence will become even more accessible and more robust to utilize.

The bottom line is that this industry will start evolving as more technologies are adopted. Learning more about technological trends will help the real estate professionals grow their businesses. Buyers and sellers will also find the process to be much simplified.

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