Blog

Top 10 Real Estate tech trends in 2018

blog

Technology is continually evolving which is why the juts like other businesses real estate agents can use it to their advantage. Tech trends in real estate are set by customers behaviour and changing marketing conditions. The Top 10 real estate tech trends for 2018 are;

1. Blockchain
Blockchain is all over the news nowadays, thanks in part to cryptocurrencies. Blockchain is beneficial to clients and real estate agents as the risk of fraud is very much reduced due to such technology and it gives you access to more data about the client and the property. Aside from this, blockchain is largely tipped to be the next revolutionary piece of tech that will disrupt real estate.

2. Augmented and Virtual Reality
Virtual tours are definitely becoming a thing. There is a multitude of virtual tour companies that will only continue to refine their technology, making it more versatile and easily accessible to agents in terms of cost. Recently, several companies (including REA group) have been experimenting with Augmented Reality and the ability for smartphones to interact with for sale signs and pictures in magazines. This space will no doubt receive a lot of attention in the years to come.

3. Big data
You may have heard of this before but not sure of exactly what it is. Big data is basically just that; data sets that are so big and complex that traditional data processing applications are unable to deal with them. Arguably the biggest way big data will impact the real estate industry is through valuation. With the voluminous amounts of data out there, many tech companies in the US are already beginning to closely analyze this data in order to bring near perfect valuations for properties in a matter of seconds.

4. Real estate robots
Real estate robots such as chatbots answer the queries of the clients for you within seconds and keep them updated on the real estate world. Think of them like an intelligent 24-hour robot designed to field client inquiries and general customer service queries. The implementation of a chatbot would provide you with the time to better focus on other tasks.

5. Automation
You need all the help you can get thus automation is a thing. A lot of apps are there in the market that does half the work for you and providing you with more time to engage and communicate with your clients.

6. Cloud
Cloud computing is the practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer. No surprises here, many if not all of the CRMs in use by real estate agencies would be utilizing cloud technology as it is faster and more secure than traditional methods. There’s no doubt that it’s adaption will only continue to grow and become even quicker.

7. Drone photography
You will see drones flying everywhere. Real estate agents use drone technology to get capture better photos of the property from different angles in order to attract the potential client. You’ll also see a shift from traditional aerial photography companies being the only ones using drones; agents themselves are already beginning to invest in drones in order to bring striking aerial shots directly to buyers.

8. Peer to peer communication
Instead of being threatened by the peer to peer communication, use it to your advantages. Upload your listings on the real estate portals and use compelling content to trick the clients into thinking that you are the best choice.

9. Push technology
The push technology essentially allows you to send notifications to people directly to their phone. This is a common tactic employed by a variety of apps in order to keep users engaged in the use of the app and informed of any recent developments. This obviously requires the implementation of an app; take a look at #10!

10. Mobile applications
Mobile applications are a must if you want to run a successful real estate business. Design a user-friendly app that is compatible with all devices and make it attractive and striking in order to keep the user interested. Imagine being able to showcase your agency’s very own app to potential vendors. If you’re interested in your agency’s own custom mobile app completely designed, developed and published in both the Apple and Google app stores please contact us.