The current advancements in property technology are aligned to shaken and disrupt the future real estate industry across the board. We have real estate technology tools and software including real estate mobile apps producing powerful management and marketing tools for real estate professionals. And this is just the tip of a beautiful iceberg getting ready to reveal itself.
Digging deeper into the age old traditions of real estate finally paving the way to the likes of Real estate data and analytics finally arriving with a seat at the dinner table alongside the real estate’s long trusted friends; Tradition and Intuition and everyone is listening when she speaks.
In hindsight the benefits of Big Data are pretty obvious. But 10 years ago it was a struggle to get real estate companies to sit down and see the value in collecting the data. Now Big Data has paved the road to appraisals becoming more accurately quoted while also saving real estate companies money spent on traditional appraisal techniques.
Overall Big Data improves the accuracy of predictions by strengthening analysis. This allows everyone to better adjust behaviors to align with the market’s volatility.
As the big data developments begin to combine with Blockchain technology, we are going to see a massive shift in momentum towards becoming reliant on both blockchain for security and Big Data for information. The marriage of the two technology will allows all this Big Data to be transferred to an immutable ledger facilitating the process of recording transactions and tracking assets.
Virtual reality is transforming the real estate industry by offering real estate agents the opportunity to showcase their properties in unique ways. Virtual Property Showcases offer potential property buyers an opportunity to view without taking the journey directly to the home. This may lead to buyers buying homes and placing bids in a quicker amount of time.