Real Estate is one market that has been increasingly been adopting new technology into its field. From 3D digital model, finding properties online, to full-on virtual reality tours of properties, the way real estate transactions are happening is moving towards new technology. In real estate, it is all about who is going to get the deal. Getting new leads and clients requires adroit knowledge of the latest happening in the field.


The Shift

Consumer demands are the true drive to implement new technology into the field. The customer is always right and this still applies in the world of real estate, to a degree. Those who are looking for properties now expect the industry to adapt to the world of the internet. They want to know if a property is even worth looking at by getting images and videos online. Using the power of real estate technology will generally improve the market overall. This means businesses must adapt or die to these new advancements.


The Tech

One new aspect of real estate tech is chatbots. Surprisingly, chatbots can be a great new way for potential clients to engage with an agency. Apple’s Siri and other automated chatbots have really set the standard for this in real estate and other markets as well. Chatbots can be quite efficient and may result in higher lead conversations.

Another new type of technology moving into the real estate market is blockchain technology. This type of tech is essentially an ever-growing list of data in a specific area, including costs. It is a new form of data management that could aid in understanding a market of a city or how to properly price a house. This type of technology is quite exciting for lenders and financial institutions.

The real estate industry has been quite slowly holding off from bringing in new technology but the time is now to begin to use it to its advantage. There are too many different areas of tech that are being introduced to the market to not begin to use them to their advantage. Whether it be implementing chatbots to your agency’s site to using virtual reality tours for potential buyers, all have benefits to increase the efficiency of your business.