We live in the age of technology and it continues to adapt and change on what seems to be a daily basis. The news is filled with self-driving cars and cryptocurrency, technology impacts almost every part of our lives. Now, even the real estate industry has emerging startups and technologies that are changing the way people buy and sell homes.
Here are some of the best examples of real estate tech:
The rental home market was forever changed when Airbnb started in 2008. Now, homeowners can manage their rental properties from their computer states or even countries away. This new way to rent accommodations has really put pressure on the hotel industry and continues to grow. More and more people are turning to investment properties and renting as a second source of income.
When homeowners search online, real estate agents can utilize artificial intelligence technology to engage with potential clients. When a customer requests information on a listing, AI can send and answer many questions all while the agent could be working with other clients. Now, listing information can be accessible 24/7 for a relatively little cost.
While still a relatively young technology, virtual reality has the potential to shake up the way that people shop for homes. We are seeing now that more and more cars can be purchased online without the customer ever seeing the car in person. Why can’t that process be extrapolated to the real estate industry? Virtual reality could allow those shopping for homes to experience a walk-through without ever stepping foot inside.
Automated Valuation Models
This technology applies more towards the real estate investors but automated valuation models can dramatically increase the time and effort spent deciding on the value of properties. In an industry where decisions need to be made in a timely manner, competitive investors benefit from these automated valuation models greatly.
Applications like Craigslist and Zillow allow customers to browse listings from their phones and connect with the selling agents instantly. While this helps users create a list of potential properties, a knowledgeable agent is still essential to the process.
Capturing unique images and videos of properties and homes can really enhance the listing that potential buyers see. Using every advantage possible can dramatically affect the outcome in a very competitive market like Phoenix.
While new technology can enhance and simplify the buying and selling experience, nothing replaces the personalization and knowledge of an experienced real estate agent. Jeff Barchi has proven to be the most trusted name in real estate in the East Valley with nearly 20 years of success and client satisfaction. Experience is one aspect that technology may never replace, so let Jeff Barchi help you with buying or selling your home. Visit Home Sellers Arizona to learn more about Jeff and his communities of expertise.