Technology’s ability to perpetually advance arouses a multitude of conflicting emotions. Whether you fall on the distraught, elated, or neutral point of technology’s ever-evolving spectrum is ultimately irrelevant, for technology has no intentions of slowing down or appeasing vast sectors of society. Real estate professionals, as predicted by Forbes contributor Matthew Murphy, are especially prone to bearing the fruits of technology’s labor. Here’s a look at five innovations Murphy predicts will be assimilated into the real estate industry.
Artificial Intelligence
Transparent and consistent communication is conducive to most lines of work. Real estate professionals, in particular, interact with many clients on a daily basis. Unceasing lines of communication can prove too taxing – enter Chatbots. Chatbots intend to facilitate the interaction process, tasking itself with questions and discussions, in turn freeing time for the Realtor.
Big Data
The fast-paced nature of real estate promises evolving trends and unending advancements. As the market progresses, real estate professionals are forced to follow suit. Big data aims to aid in the process, providing relevant information with visual data to boot. This unmatched insight could prove revolutionary, offering clear-cut data that’s unprecedented in most fields. Such bountiful knowledge could lead to accurate analyses and fact-based decision making, allowing real estate professionals to deduce findings logically.
Drones
Potential home buyers often search for a wow factor. They want their interests piqued and preferences catered to so they can make sense of the financial journey they’re soon to embark upon. Offering stunning aerial photos is a viable solution to cementing such reactions. Drones help capture an understanding of the surrounding environment while alluring prospective buyers with captivating visual aids. What’s more, for those who elect to opt out of open houses, drone footage can serve as a visual tour, breathing convenience into the home buying process.
Smartphones
While millennials are often regarded as self-entitled tyrants, there’s no disputing their prevalence in society. They’re single-handedly dominating the real estate market, bringing their 21st-century gadgets along with them. Real estate professionals are encouraged to lead a mobile-friendly lifestyle as an attempt to acquaint themselves with modern-day technologies. Being that smartphones are the very hallmark of millennial society, it’s best for real estate professionals to acquiesce and hop aboard the smartphone express.