There is no question that technology has dramatically changed the way buyers interact with the real estate industry. For a homebuyer, many of the tools that are helpful when searching for a new home no longer exist. It is difficult to find homes on the web that are comparable to the ones in your neighborhood. However, there are still some technology opportunities that you may be able to use in your search.
Technology is not going to disappear either. In fact, the real estate industry is going to become even more advanced. For example, Google now can search in the millions of listings with ease. That was impossible a decade ago. Technology is also pushing some traditional brokers out of the industry and even forcing agents to embrace technology in their business. The future looks very bright, with more real estate professionals using technology to streamline their business and build even more revenue. Here is a summary of some of the top real estate technology and property trends that will rock in 2022.
1. Augmented Reality
Augmented reality will likely take off in the next few years. Of course, it may be much sooner than that. For example, Apple recently bought AR app company Metaio. The technology allows you to put your phone into a headset and you can “see” anything from a live view of a beach to the latest news in a virtual reality headset. The idea is that your phone’s screen is a “window” into an augmented reality. Isn’t it amazing?
2. Virtual Reality
Virtual reality is another cool technology that will be widely used in real estate. Thus, virtual reality can give you a better feel for a house, and it is a cost-effective way to “try out” a home before you buy it. For example, you can use virtual staging solutions to look at a home’s features or room by room. This comes in handy when it comes to real estate objects that are currently under construction and haven’t been built yet.
3. Blockchain Technology
According to Forbes, “At the moment, blockchain is used mainly for financial transactions.” However, there is a “growing focus on using blockchain technology for real estate.” Real estate is ripe for disruption and blockchain technology. It is important for a buyer or seller to have absolute confidence in their property purchase. And there are many benefits to using blockchain technology for real estate transactions. Transaction speed, zero commissions, and absolute anonymity are some of the best things about using the technology of blockchain.
4. Artificial Intelligence
We’ve also seen a rise in the popularity of artificial intelligence and machine learning in recent years. And with that being said, it is something that has a huge range of potential uses, especially in the real estate industry. And that’s because it can be used in a wide range of different ways. From real estate listing agents to developers and even property investors, they have all benefited from AI in some form or another.
And as far as property listing agents are concerned, their role is to make sure that the information they are presenting is as professional as possible. This is one of the biggest challenges that listing agents face in the real estate industry. Not only is their appearance an important aspect, but they are also the ones that will be interacting with prospective buyers and sellers.
And as such, it’s essential that they look their best. But what if they could not only look their best, but also make sure that they were also being professional at all times? Well, that’s where machine learning and AI come in.
For example, AI can be used to analyze property listings, looking at things like the quality of photography and the general professionalism of a listing agent. It can then use this information to determine whether or not a listing agent is more likely to be successful. The potential here is massive, but right now, the best results have been found in the field of property valuation.
While that may be the use of AI in the real estate industry that has seen the most growth, it is also one of the most important. As such, it’s something that many property owners will be able to benefit from in the years to come. And while it may be more widely adopted in other industries in the future, it is something that property developers and real estate investors should be looking into as early as possible.
5. Machine Learning
Even though artificial intelligence and machine learning are two of the more widely adopted real estate technology trends, it’s also possible to see how they have an even greater impact. In fact, they may actually be two sides of the same coin.
One of the benefits of using machine learning in many industries, including real estate, is that it can be used to analyze information that we have already acquired. This is incredibly useful when it comes to real estate technology. This includes analyzing information on potential buyers or sellers and using that to identify those that are most likely to make a purchase or a sale.
However, one of the biggest benefits of machine learning is that it can be used to classify information in order to create a searchable database. This is a huge benefit to listing agents because it allows them to organize and streamline their databases on a number of different levels. And while the exact use of machine learning is still somewhat of a mystery, it is expected to see some significant increases in the years ahead.
