Disruptive Technology Trends Reshaping Real Estate Processes

We’ve come a long way from conventional real estate processes, tech innovations have now taken over the globe, transforming all aspects of life and play. The trendy term PropTech or property technology is revolutionising the manner in which people interact with property. Be it selling, buying, investing, renting, construction, management and more, real estate software solutions are bringing in much-needed efficiency and automation. Currently, there is tremendous demand for real estate in terms of industrial, healthcare, commercial, retail infrastructure etc.

This upward swing of real estate technologies has the power to drastically elevate the property market on a global scale.  Let’s explore the major technologies taking over the real estate industry.

Big Data and Analytics

When it comes to the real estate sector, big data and analytics embedded in real estate software solutions draws both real-time and historical data and offers location-specific insights regarding pricing, trends, patterns, potential value and demographic information. It supports property pricing, mitigates risks by forecasting future prices, suggests effective strategies and so on. In fact, analytics tools developed to support realtors utilise data from online media and search engines in order to narrow down their audience and zero-in on most likely buyers.

AI and Machine Learning

More and more businesses in the real estate sector are harnessing artificial intelligence technology to reshape a range of processes within property financing, selling and buying. AI-enabled real estate software solutions systems streamline the home search process, help agents with lead generation, ease transactions and payments, facilitate property evaluation and optimise loan processing.

Regression modelling in AI-based real estate software takes into account property aspects including location, age, size, quality attributes, number of rooms etc. and offers an ideal price range for the property in question.

Email Automation

Ever since email automation has entered the picture real estate agents no longer have to tackle a range of tedious and repetitive tasks. Using triggered emails (time-based or action-based), prospective buyers can be alerted to new property listing, price drops or any other predefined events or conditions that a real estate company may set.

Automated email functionalities in real estate software development are vital for increasing leads, running marketing campaigns and making prompt responses to inbox emails.

Virtual and Augmented Reality

Immersive technologies leveraged by forward-thinking real estate agencies have revolutionised property search, making it exciting and highly convenient. These innovations display multiple properties through virtual tours which can be done without the hassle of travelling to different locations. You wouldn’t have to depend on elaborate descriptions of the property because the virtual tour will display everything your prospects would need to know. While VR offers an immersive experience for three-dimensional properties viewing, AR allows firms to showcase properties in terms of 3D models even for real estate that has not yet been constructed.

Mobile Apps

As for a host of other sectors, mobile apps bring tremendous convenience to the real estate industry. They bring convenience and efficiency to various aspects such as finding an agent, browsing, buying or selling properties. Buyers can interact with sellers through a dedicated app and narrow down on properties that catch their interest. Through mobile apps the real estate process is rendered transparent and simple. Real estate mobile apps allow agents to engage prospect regardless of time and location.

The emerging tech trends in real estate software solutions are bringing in a tremendous revolution to the buyer, seller and agent experience. It’s time to embrace the trends and forge ahead.