Real estate technology trends in 2020

From virtual real estate tours to automated marketing, we tell you what your clients want to see and what they want to interact with during the COVID-19 pandemic.

Before the age of the internet, real estate buyers contacted a real estate consultant, made an appointment to meet him and look at the list of houses, and then arranged other meetings to visit the houses one by one. However, with the arrival of Covid-19, real estate businesses have seen significant impacts on the traditional ways of running their business.

Thanks to the development of different types of real estate technologies, buyers and sellers can now see virtual real estate tours, access advisers through apps, instant messaging, or social networks, and sign papers online safely, so that the process of trading becomes simpler and more transparent.

Today, the buying and selling process is not only easier and faster but also the information is much more accessible than ever before. Now, no matter what role you play in the process, these four real estate technologies are going to play an important role.

Mobile technology

It is clear that mobile technology has had a significant impact on the way people search for homes to buy. 

The days of real estate consultants publishing their listings in the newspaper are long gone. Today’s buyers are looking for the homes they want to buy from their smartphone at dinner time. In addition, they are better informed and demand a more user-friendly experience, with better online search features and personalized alerts.

You will also see continued advances in machine learning that will deliver better search results. Similar to user experiences on Google and Amazon, real estate sites seek not to be left behind by making recommendations that go beyond the number of rooms or price range (similar to the matching of preferences used by dating apps) .

The real estate technology mobile will of recommendations based on data entered into forms and web sites, software that recognizes images and text used, or even fingerprints, to recommend properties.

Virtual real estate tours on-demand

Today we live in a world where the interaction between the physical and the digital is on the rise. With this level of access to on-demand services, there is no doubt that consumers will have the expectation of seeing virtual real estate tours in the real estate industry.

Don’t be surprised if you start to see an increase in real estate technology that makes these tours possible with the help of elements such as augmented reality, virtual reality, and tours captured with drones.

Although virtual real estate tours will not replace in-person home displays, the buyer will be able to save time and better segment potential option options. 

Virtual reality and drone-guided tours give potential buyers a full 360-degree tour and provide the customer with a better sensory experience of the property that cannot be captured in images; while augmented reality offers views that can help the buyer see houses under construction and “walk” through them with their own furniture at home.

Lately, a trend has hit the market that helps buyers enjoy instant home tours through apps. We also see more apps for smartphones or websites that offer 3D images of the interior of the houses.

Automation

Marketing automation, such as social media post scheduling or automated email campaigns, is a technology trend that increases efficiency by reducing the time it takes to distribute marketing content. However, this is only the beginning of what can be automated. Every day more and more tasks that require the human touch will be automated to give real estate consultants greater flexibility and efficiency.

We have realized that the automation of real estate technology will continue to impact the real estate industry with software that will give better results due to the power of information gathering, giving real estate consultants the ability to close deals faster and dedicate more. time to meet customer needs. 

Many of these real estate technologies have built-in dashboards that display real-time performance metrics on both sides of the transaction. This not only means better customer service for the consumer, but also a better overall experience for all parties.

More and more real estate companies are turning to automation to produce a price and valuation station instead of doing it manually. Computer-generated price information offers a more scientific approach than the instinct of the real estate advisor, providing transparency to the transaction and speeding up the negotiation.

Artificial intelligence

The use of artificial intelligence, or applications that can mimic human learning and decision-making through data analysis, has been inserted in all industries that use the internet to interact with their consumers and has become an important real estate technology.

We first saw AI come in with chatbots as a technology trend that could have a conversation with website visitors to pre-qualify leads and answer frequently asked questions. 

Now, instead of working with a real estate consultant who has a listing of several houses, sellers can search for companies that use artificial intelligence to analyze thousands of data that are used for the development of ads on social networks and websites directed to consumers who have been identified as potential buyers.

These online ads are being sent in droves to individuals who appear to be potential buyers. When the clicks hit the ads, the algorithm deciphers the matches between the consumer profiles and then converts that information into new ads to search for new entries based on those patterns.

Artificial intelligence can also help real estate consultants predict the closing price of a listing and estimate when it will close, helping to take the guesswork out of the price. The real estate technology predictive used in this way ensures a better marketing strategy and a faster close.

 

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