By Artificial Intelligence (AI) platforms to electronic open homes to blockchain integrations, new technologies are taking over the property industry by storm and reevaluate how we do business.
Lots of men and women today are using the internet to search for houses. According to some 2017 NAR report, 51 per cent of home buyers use the web to research a real estate purchase decision.
Tech in this sector has developed so much that it is possible to purchase a home without taking a pen to sign a contract.
Sellers will also be on the receiving end of the tech revolution. The 21st century home seller is using innovative technology such as virtual reality to make video tours of the house. At the same time, developers are utilizing 3D software to make crafty models of homes and floor plans.
While the blockchain technology remains in the early stages, it has gradually made its way to the real estate market. Many home sellers are currently accepting bitcoins as an alternative payment option for high-value property sales.
Blockchain technology has made it possible for individuals to process large financial transactions, such as property sales, without going through intermediaries like banks. If fully utilized, blockchain technology can bring safety, efficiency, and transparency to property transactions.
What are your ideas on the future of technology in the real estate market?