5 Real Estate Tech Innovations that Have Changed the Way We Do Business
Technology has gradually begun to make its way into the real estate industry and thanks to the introduction of several vital innovations in the space, the way in which real estate professionals do business has been changed forever. Some of the top technology innovations in the real estate industry include the following:
1. Digital Services
Buyers, sellers, investors, developers, and brokers now have the ability to do more in less time by taking advantage of a flurry of innovative digital services. With sites like Zillow and Trulia, it is now possible to make the search process more streamlined than ever before, while discovering everything from property history details to information about neighborhood surrounding a particular property.
2. Smart Home Technology
Setting the right atmosphere for a property showing has never been easier since the introduction of smart home technology that makes it possible to control everything from temperature to lighting to home security, all through digital devices. In other arenas, smart home technology is also driving more efficient building management in the commercial real estate sector. As a result, it is possible to ensure that tenants are happier while taking advantage of the opportunity to operate buildings in a more eco-friendly and secure manner.
3. 3D Cameras
3D technology has improved significantly over the years and is now being used in a variety of aspects of the real estate industry. With 3D cameras now available on the market, real estate professionals are able to create virtual property tours complete with accurate space measurements. On the buyer side, users are able to tour properties from the convenience of their phones, computers, or tablets. This makes it possible to show more properties in a higher degree of detail in less time, setting the stage to close transactions far faster.
4. Drone Technology
Despite the fact that the regulations for consumer usage of drones are still somewhat up in the air, the potential offered by drone technology could completely change the face of real estate technology. In addition to providing high quality aerial views of properties without the need to hire outside companies, drone technology could also give prospective buyers and developers with an improved idea of a property's surroundings. Overall, the use of drone technology could help investors and developers to make more informed decisions while real estate agents are able to market properties far more effectively than ever before.
5. Wearable Technology
The introduction of wearable technology is having a profound impact on the real estate industry. While wearable tech is still relatively new, more and more applications are already being made available to smartphone users, giving real estate professionals the ability to be completely hands-free, a feature that can be particularly beneficial while out in the field. Whether it is walking through a property, taking photos, pulling up tax information, or researching the local neighborhood, wearable tech has the potential to completely transform the way in which real estate professionals do business.