How Real Estate Tech is Shaping the Industry

By Website Admin | July 6, 2017

The latest innovations in real estate technology are rapidly changing and shaping the industry. Keep reading to find out about the top trends and features.

The real estate business has always been on the cutting edge of technology. When the Internet emerged, the real estate business pounced.

When digital photography became a reality, the real estate business began using virtual tours. From marketing to customer experience, real estate tech will always keep the industry fresh — and potential buyers engaged.

But what are the trends this year? What tech is about to change the face of real estate? We’ve got the answers right here.

Virtual Reality Reality Real Estate Tech

Imagine being able to walk around a potential house in your future hometown without having to fly or drive there. This has been the promise of virtual technologies like “3D virtual tours” for a long time.

But today, the technology has actually caught up with the dream. Enter Oculus Rift and HTC Vive.

Both systems now allow the wearer to actually explore virtual spaces with both their eyes and their bodies. And software developers have created multiple applications that are ready for any real estate company to use.

One of those applications is Matterport.

Not only do they do the typical online 3D virtual tours, but they’ve also ported this technology to VR headsets like the Samsung Gear VR. The Gear is the cheaper mobile version of the Oculus Rift, and it’s powered with just your cell phone.

You can now map a house and allow potential buyers walk around in it. You can also map out a house that hasn’t been built yet. You could actually walk through your home before it exists in reality.

The Internet of Things

This is a hot topic in both the residential real estate world and the commercial real estate world. The Internet of Things, or IoT, will change the way we interact with properties.

In the 90’s Microsoft gave us a vision. They predicted every home would be a smart home. But that reality was far away.

The smart home has arrived. And it’s not at all what Microsoft predicted. Instead, the IoT is so unobtrusive, you wouldn’t know it was there unless you installed it or ordered it yourself.

From smart thermostats to foot traffic sensors, the IoT communicates with other devices without any human intervention. Imagine a home or an office building where the set temperature changes according to the number of people in a room.

Or imagine a house where the lights turn off and on automatically as you walk around the house. Everything is connected to everything else. A real smart house.

This will change the face of property management forever. You can now charge rent on how much someone actually uses a property. This will give retail landlords the ability to rent out according to use.

Just imagine the possibilities.

Every Year Something New

Real estate tech is super exciting. Each year something better comes out that changes the game.

If you have more questions about how technology can transform the buying or selling process, contact us. We’ll answer all of your real estate tech questions.