Tech Trends Affecting Real Estate in 2023

Written by Ashley Sutphin Posted On Wednesday, 08 February 2023 00:00

If you're a real estate professional or investor, some tech trends are disrupting the industry right now and could make your job easier and your approach more effective.


PropTech is short for Property Technology, which uses information technology to help people research, buy, sell, or manage a property.

A real estate company can add value to its business with this technology.

The core goal of PropTech is to address how people experience real estate and take value from it.

PropTech can encompass all the tools that real estate professionals and experts use.

Airbnb is one of the original examples of PropTech, but the industry has expanded so much since it came online. There are now thousands of companies characterized as PropTech and subcategories include shared economy real estate, smart real estate like smart home technology, FinTech, which helps facilitate the financial processes that occur in real estate, and ConTech, which is construction technology.

Fractional ownership is also something to discuss within the larger context of PropTech. Fractional ownership isn't new in real estate, but it's growing. Investors, for example, can use REITs and other types of partnerships to own shares of assets, which isn't necessarily a new concept on its own. What is new is the acceleration happening here because of technology. Many analysts describe it as a democratization of real estate investment.

Enhanced Analytics with AI

Artificial intelligence certainly isn't new either, but its implications in real estate continue to grow. AI provides the opportunity to get advanced, leading-edge analytics quickly and easily.

For example, investors can now find and analyze potential deals within minutes.

PropTech and AI are coming together in many ways to deliver new algorithms that will have ever-increasing applications in real estate.

It's not just analytics that is useful for real estate professionals regarding AI.

Many agents are integrating AI into their writing, including legal writing and producing descriptions for listings. AI isn't at a point where it can completely take over in these areas, but it can save real estate professionals time by giving them a framework and starting point.

With a combination of AI and PropTech, real estate professionals and companies can analyze huge volumes of real-time data and then turn that into money-making insights.

AI and Algorithm Estimations

One more implication of AI for real estate professionals is its role in property value estimations. Statistical models, big data, and machine learning can all come together to evaluate the value of a property.

Real estate professionals can even use machine learning algorithms to predict how much business commissions they'll get after each deal they close. There's pattern recognition used in machine learning that helps identify when a property gets popular. All of these features can mean better deals.


2022 wasn't necessarily an excellent year for blockchain if we’re looking at cryptocurrency, but don't count the technology out just yet, especially regarding real estate transactions.

There are a couple of ways blockchain has the potential to disrupt real estate.

The first is with tokenization. This is when cryptocurrency divides assets into tokens that can then be stored on the blockchain. This might, for example, let a property owner sell just a portion of a property.

There's also the potential that smart contracts are on the horizon. These contracts speed up things like verification, home search, and property acquisition.

Finally, if you're in real estate in any capacity, you're probably already working with automation. In 2023, the automation trends will likely expand more heavily into chatbots and virtual assistants. This allows you to automate key parts of your marketing and increase engagement, keeping visitors on your site for longer.

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