Today, no industry is immune to technological advancements. Every industry evolves and walks along with the trends. The real estate and housing industry adapted the technological growth traditionally slower. But not anymore. The future of real estate technology is booming and the process of buying, selling, and interacting with houses is drastically changing.
The U.S. Housing’s combined value hits 33.6 trillion in 2020. The pandemic has encouraged the real estate industry to innovate applications that let you see intricate details, every nook and corner, and legit documents of the house you’re interested in. As per the National Association of Realtors, 97% of homebuyers used the internet in their home search.
With social distancing and other health guidelines coming into force due to Covid-19, technology has played even a larger role in buying and selling properties. This article will throw light on 6 disruptive technologies that are changing the future of the real estate.
- BIG DATA:
The real estate and property management industry has benefited in a very systematic way from big data. The higher you populate a website with data, the better are the chances to make smarter decisions.
Real estate giants like Houzeo, Zillow, and Redfin have molded the real estate industry in a better way than ever. These companies collect and compile data relevant to the buying and selling patterns in a specific area, traffic, demographics, neighborhood, consumer survey, and more. All of this is then curated to offer insights on pricing, home values, and potential selling value in the neighborhood.
- CLOSING COST CALCULATOR:
Do you often wonder what exactly be your home’s closing cost when you were to sell it? While some real estate agents may say an X amount of money, chances are the amount may vary or not be conclusive.
With a tool called that gives you accurate selling prices, the closing cost calculator highlights the extra charges (if there’s any to pay), and the amount you can quote to potential buyers. Nothing more, nothing less.
Houzeo, America’s leading flat fee MLS listing in Florida offers the most accurate closing cost calculator, thus helping you make decisions that are in your best interest.
- ONE PLATFORM APPROACH:
When you get everything under one roof, why would you go out looking for information at several different places? Once a primitive industry will now use the tools and technology to streamline and become far more efficient to give a better user experience. With substantial growth and investment in this sector, buyers, sellers, and real estate professionals can now have everything on one platform.
Companies like Houzeo, Zillow, or Redfin who help you list on multiple listing services by giving you more control over your sale are now maintaining everything under one umbrella by creating a marketplace that shows you real-time information about a particular property, the seller’s information, helps you schedule a showing, and gets an accurate closing cost to attract your target market.
These platforms have minimal hassles of paperwork and with everything being digitized, listing your property or buying one is at your fingertips.
When technology meets real estate, imagine the level of convenience and comfort a user will experience. If you were shaken by what the internet has done so far, big data, closing cost calculator, and the one platform approach are about to take it to the next level.