The real estate industry is one of the oldest industries in the world. As such, it is highly regulated and has developed a reputation for being slow to adopt new technologies. However, recent trends in Real Estate mobile tech have shown that this reputation may be changing as more companies look towards emerging technologies such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) to improve their business processes and increase sales.
Biggest trends and technologies that are emerging right now.
If you haven’t been paying attention to the real estate tech space lately, let us catch you up on some of the biggest trends and technologies that are emerging right now.
The real estate tech market is huge and growing fast. According to CB Insights, it’s estimated that over $100 billion will be invested in this space by 2025 (up from $20 billion in 2018). This growth has been fueled by many factors including:
- Increasingly sophisticated buyers who want more information before making decisions;
- A shift toward online shopping which means more exposure for your properties;
- The rise in popularity of co-working spaces as well as freelancers working remotely;
- Changing demographics–more millennials than ever before are getting married at later ages which means fewer people buying houses at first time around!
Augmented Reality
Augmented Reality (AR) is the integration of digital information with the user’s environment in real time. It’s a technology that overlays digital information on top of real-world elements, giving you an enhanced view of your surroundings.
The most common use cases for AR include gaming and architecture, but there are many more possibilities for this technology as it continues to develop.
Virtual Reality
Virtual reality is a great way to market your property. It allows potential buyers to get an immersive experience of the property, without actually being there. VR can be used for real estate transactions and training agents.
Artificial Intelligence (AI)
Artificial intelligence (AI) is the ability of computers to perform tasks that normally require human intelligence. It’s not just limited to games or chatbots anymore, either: AI can be used to analyze data, predict trends, and make decisions–and it’s all happening right now.
AI will be used in many different ways in real estate and mobile technology over the next few years.
For example:
- Marketing – AI can help you find new customers by analyzing data about your current audience and matching them with potential leads based on similar interests or demographics. This makes it easier than ever before for businesses like yours to reach exactly who they want with targeted advertising campaigns!
- Property Management – Using machine learning algorithms like Google Cloud Vision API allows property managers at large multifamily properties (think apartment buildings) keep track of their residents’ needs
- Copywriting – AI can rapidly generate property specific copy that describes both the home and the location from very little information
There is a lot of tech out there that can help you market your properties or even better, help you sell them faster and more efficiently.
The most important thing to remember is that real estate tech is here to stay. As the market changes and grows, so will the number of tools available for you to use. It’s important not only because it can help you market your properties faster and more efficiently, but also because it gives buyers a chance at finding exactly what they want in an otherwise saturated market.