As more aspects of the real estate technologies deal go away, the epidemic could have led to a technological overload. Keeping up with Proptech’s growing capabilities has become a challenge for real estate firms.
According to National’s 2021 real estate technologies in the Digital Age report, 41% of the more than 6,000 real estate executives recently surveyed say keeping up with technology is one of their biggest challenges in the next two years.
impact of technology in real estate industry
According to the director of emerging technology, said on Friday real estate professionals expect to rely more on e-signature tools, social media, native MLS apps and technologies, and relationship management systems over the next 12 months. clients and transaction management.
Session during the 2021 conference and exhibition in the world forum. And in the next two years, real estate firms believe that drones, cybersecurity, 5G, virtual reality, and artificial intelligence will become more important to their business.
In Friday’s Emerging Technologies and Strategic Trends You Should Know session. Realtors tech leaders discussed two technology tools they believe could have the biggest impact on the future of real estate technologies.
Future of Real Estate Technology
Artificial Intelligence, director of emerging technologies at realtor organization. They said AI tools have long been touted in the real estate industry to power. New learning processes, solve problems, collect and interpret data.
Many people unknowingly use AI tools on Amazon, such as getting product recommendations. Based on shopping patterns or movie recommendations based on streaming options. They believe that in the future, artificial intelligence. It will be able to advise homebuyers which neighborhoods they want to live in or which real estate agent to contact.
Real Estate Technology News
Currently, AI is mainly used in predictive analytics. For example, some CRMs may display 10% of current contacts that are likely to be moved within the next six months, taking into account data points that are likely to be moved multiple times, such as changes in marital status, recent graduations, or even junk or storage.
“Technologies like this already exist, are affordable, and can leverage your existing data,” They said. “If you take advantage of this, it can have a huge impact on your business.”
Real Estate Technologies: Recently, artificial intelligence has received attention due to its ability to use image metadata to search for properties in more detail. Home renovation analytics app Plunk, which uses real estate market data to help homeowners and real estate agents determine the cost of various home renovation projects, recently partnered with an image data company.
Graphics Immpact in Real Estate
The image analysis tool can identify physical features in photographs of houses, such as kitchen islands or improvements. It can integrate such data from images into searchable web content that can be used for home comparisons. Technology can help consumers find and compare homes based on specific interior features and amenities.