7 ways technology is shaping the real estate landscape

7 WaysTechnologyis Shaping theReal EstateLandscape

Bennat Berger

Here are seven distinct ways in which technologyhas begun, and will continue to shape the way real

estate is marketed, rented, sold and managed.

1. Mobile Technology

With the rising ubiquity of smartphones athand, it’s little surprise that when searchingfor real estate, over 60 percent of renters use

mobile devices to do their research.

Responsive websites, mobile apps, and quickcommunication via text and email is more important

than ever for real estate industry insiders.

2. Marketing hasbeen digitalized

While open houses are still fairly important, qualityphotographs, information and descriptions are perhaps

the most vital in attracting potential buyers.

Disseminating your advertising onto different digitalplatforms, complete with the information buyers and

renters need, ensures that the listing isn’t overlooked.

3. Startups are surging

There are a range of tech startups that tackleall areas of the real estate industry, from

listing and search, to investment, tobrokerage platforms and lease management

software.

Some of the leading startups include Zillow and Trulia,both of which provide robust online real estate

databases, Redfin, a web-based brokerage platform, andHigh Tower, which offers online tools for landlords.

4. Buyers and Rentersare More Informed

With the Internet at their fingertips, buyers andrenters have access to more information than ever

before, with records of building’s history,neighborhood demographics, comparative listings,

fees and reputation.

Informed buyers and renters raise the demand foraccountable and specialized real estate insiders that

meet their needs.

Unsatisfied tenants may turn to the web to review orreport issues they experience.

Thus, good management is sought after via onlineresearch, and bad management is a digital stain

difficult to remove.

5. Virtual Tours

Photographs are all but essential in real estatemarketing, but the next step — virtual touring — is

already upon us.

6. Online Bidding,Crowdfunding and

Transactions

Nowadays, enterprise software can enabletransactions between real estate agents and

buyers — this way, documents and informationcan be shared and signed in seconds, with or

without a physical handshake in tandem.

Prospective buyers can bid against each other, orpool their money to invest in properties.

Individuals can also get in on the investing gamewith a number of real estate crowdfunding options.

7. The sharingeconomy strikes

Lastly, the success of disruptive vacation rental modelslike Airbnb demonstrate that renters are interested inmore flexible options — for life, work, and play — and

are happy to do so without a middleman.

There is already a UK startup called Yopa that allowspeer-to-peer home selling, purported to save users

thousands of dollars.

Real estate has, and must continue to take techinnovations into stride if it’s to remain profitable

and modern.

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