Six Ways The Real Estate Industry May Change In The Next Few Years

The real estate industry is one market that is embracing technology at a steady pace, and buyers and sellers are starting to reap some of the rewards of these changes. Streamlined processes can, for instance, allow people to buy a property without having to be physically there to do so, or tap into larger amounts of valuable — and understandable — data, something that can help buyers find and track properties they’re interested in, or help agents best reach their clients.

1. More Tools To Gather And Organize Information

I see the use of technology intensifying throughout the real estate industry. Even just in the last three years, I have seen an explosion in the tools available to operators like myself. We switched over to SaaS programs to allow us to better monitor investor activity, as well as organize and present the information they value. Our management groups rely on internal dashboarding programs to help track KPIs and hold employees accountable. It has provided us with the ability to run much leaner and still support a professional appearance and streamlined execution. – Brennen Degner, Arrowroot Real Estate

2. Allow For Greater Customer Access

A lot of the process is being automated and is open for the consumer to search for properties, get online alerts and get real estate documents all online. I believe having an agent involved will always be key: The negotiation power the right agent brings to the table makes a huge difference for the consumer. Who you work with matters. – JP Moridi, The Moridi Team | Moridi Enterprises

3. Blockchain’s Role Will Grow

I believe blockchain will play a more significant part in real estate investing and will allow a faster transactional experience, since this technology allows money to move in the system within seconds — even very high amounts. However, it will happen only if people feel more comfortable with blockchain, which will lead to mass adoption. A more user-friendly platform is key here, but I believe we can get there. – Ellie Perlman, Blue Lake Capital

4. Reduce And Remove The Realtor Role

Technology is going to reduce and eventually remove the realtor. White-glove service for specific niches like luxury and new construction will be the last to go or may never be removed, but traditional realtors will go sooner rather than later, as a new generation of buyers and sellers enter the market and consider “unconventional” sales mediums that weren’t available to their parents. – John Michael Grafft, GRAFFT – Chicago Real Estate

5. Algorithm-Based Automation

The future of real estate and real estate finance is in algorithm-based automation. Deep learning and neural networks will allow for one of the highest touch industries in the world to move swiftly into the hands of machines from origination through automation and acquisition through disposition. – Blake Janover, Janover Ventures, Inc

6. Move To Electronic And Remote Settlements

The place where technology is going to directly impact agents is at settlement. The movement to electronic and remote settlements is going to fundamentally shift the last step in a transaction. Rather than have all parties literally at a table signing papers, the industry will end up with remote settlements where everything is signed on a computer or phone. That will fundamentally change the way agents can bond with their clients at the last and most important step of a transaction. – Joseph Himali, TTR|Sotheby’s International Realty

– Six Ways The Real Estate Industry May Change In The Next Few Years

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