The real estate industry has changed drastically in the last couple of years due to the advancement of technology. It has also changed the way real estate agents carry out their daily jobs. Consumers have also been given more choice when it comes to buying and selling of property in this industry.
Smart homes have become quite common which was the beginning of technology in the real estate market. As time goes by, new trends pop up which are to the benefit of both the consumers and sellers.This article will discuss some of the latest real estate technology trends in 2018.
1. Virtual Reality
Users can make use of wearable technology that can simulate an environment in 3D. Virtual reality has become increasingly popular especially after the launch of Pokémon Go.
When it comes to the use of virtual reality in the real estate market, users can now take a tour of a house they desire virtually. Additionally, a potential buyer could virtually design the interior of the house to give them an idea of how it would look like after renovations.
2. Peer to peer communication
This type of communication allows prospective buyers to interact with arizona real estate agent where they can discuss without an intermediary. Communication is done over the internet where realtors and clients can engage in negotiations regarding certain properties. As a result, clients easily receive notifications when there are listings available in different areas. It is a smart way that focuses on adding value to consumers through peer to peer sales.
3. Robots
The rise of artificial intelligence has brought about chat robots. AI is improving tremendously where its ability to process languages in their most natural is amazing. Many industries are making use of artificial intelligence since it eliminates the amount of time employees take to convince customers to view what is on the market.
These chat robots are also able to answer questions regarding the availability and prices of houses in a certain location. The advantage of chat robots is that they can work all round the clock without getting tired. As a result, consumers can easily access information at any given time.
4. Blockchain
This is the technology behind cryptocurrency. Bitcoin is the most popular form of digital currency today. It is a method of payment that is set to change how business operates in the real estate industry.
Fortunately, it is not possible for anyone to alter the form of cryptocurrency which makes it an effective means of payment. Blockchain could reduce the number of frauds that occur in the real estate significantly.
5. Machine learning
These help to identify new patterns in the way data is processed. It works hand in hand with artificial intelligence. It has the capability to give a notice on future trends regarding house prices depending on the behavior and activities of people. For example when there is a population increase in a given area due to the creation of job opportunities for college students. This will boosts the real estate industry significantly.