Finance
February 2, 2024
It’s a given that most industries have kept up with the ever-changing technology that has been such a driving force in our culture over the past couple of decades. They’ve had to in order to stay current with their customer base. The real estate industry has been a notorious exception to that rule, but times are changing.
The real estate industry is finally catching up to the rest of the world. Here are several technological advances that are having a big impact on the way that the real estate market operates right now.
Cloud Technology and Digital Document Solutions
Paperwork is a way of life in the real estate industry. There are countless documents to be prepared, signed, mailed, and copied. It uses a lot of paper, requires a lot of storage space, and it causes a lot of hassle. People used to have to physically be in the same place in order to do business in real estate, despite that most other industries moved beyond that with the advent and spread of high-speed internet.
Cloud technology eliminates a lot of the bulky paperwork that comes with buying and selling in the real estate industry. Documents can now be digitally and securely stored online.
Digital document solutions allow for the signing and sending of important papers through digital means rather than people having to go to documents or documents having to be mailed in order to obtain necessary signatures.
VR and Other Visual Tech
Virtual reality is being used in several industries already, and it makes perfect sense in the real estate industry. Imagine being able to walk through a home and actually feel like you’re in it despite the fact that you’re halfway across the country. It gives listings a further reach.
There are several other visual tech improvements over the past several years that are making strides in real estate, as well.
Photography technology has improved dramatically over the past several years, meaning that literally anyone with a decent cell phone can take stellar pictures and even get the visuals required for virtual tours with a small, multi-purpose device that fits in your pocket.
Listings are now being virtually staged rather than investing in pricey physical staging. Listing agents can either do this themselves or hire a digital staging firm. It allows customers to see how a home would look done in their style, and it’s perfect for model homes since you show potential buyers all the ways that a home could look.
A simple software program can be used to create a floorplan of a home to enrich the listing.
Access to Talent Has Improved
Once, you’d have had a difficult time finding a writer to help write listings or a marketing expert to help you get your name out there. Now, you can find these real estate industry professionals and more on talent marketplaces like Upwork or Fiverr. It’s easy to vet, hire, and turn projects over to them, and it can be done significantly cheaper this way than it used to be.
Tech Is Changing the Face of the Real Estate Industry
After many years of stagnation and antiquation, the real estate industry is catching up to the rest of the world. EasyKnock, a real estate tech company ourselves, is proud to be taking part in real estate’s tech frontier.
Key Takeaways
Technology is changing many industries. The real estate industry may be the latest. Consult with a real estate agent to learn more about how technology has changed the face of real estate and how you can benefit from it.
