Real Estate Technology Trends

According to the IBIS World Industry Reports ( 2021), real estate is now a $35 billion asset category and generates more than $1 trillion a year in revenues. Yet, many venture capitalists have remained skeptical about investing in real estate technology until very recently. There are many reasons this might be. Some are lack of venture capital availability, a fear of entering a new industry, or an inability to convince a reluctant partner. But times are changing rapidly and venture capital funds are showing more willingness to take risks in new technologies like real estate.

One of the reasons for the sudden change in attitude is that new business models, such as cloud-based real estate software, are not being presented as benefits to individual investors. These models are still seen as a product of larger companies with deep pockets. However, the perception of real estate is changing due to the existence of millionaires who have made their own millions. Generation Y is now seeing how their parents made a living in real estate by creating new business models and they are eager to replicate those success stories. The brokerage firms' investment management teams are also beginning to see this change.

App stores are one the most popular types of real-estate technology investments. These apps give tenants access to real estate information as well as help them manage their finances. They can be used by property managers, homebuyers, landlords, developers and owners. An example of such a popular app is the property app, which is gaining in popularity because it allows real estate management professionals to manage multiple properties from a single location.

Another area of real estate technology investments is experiencing significant growth is real estate IT. The app was designed by real-estate professionals. It allows buyers to enter important data without having to manually create complex reports. The data is entered into the app, printed out and managed via various software programs. In many cases, the app serves as a clearing house for all of the important data an investor may require, such as demographic data, property price data and financing data. Other times, the app may only provide basic forms to list and buy, or access to other forms. Either way, smart phones and tablets make smart forms a common tool for property investors.

Another growing area of real estate technology is the iot (smart home) platforms. IoT refers the integration of technology and people, creating new capabilities. Smart home platforms on the other hand are advanced artificial intelligence software systems that provide homeowners automated services. For example, homeowners may use their iot smart house platform to control security cameras remotely, control lighting, adjust climate controls, Showcase IDX and much more.

As the real estate technology market grows, we will likely see many more machine learning and AI technologies integrated into our homes, offices and cities. Machine learning refers to the development of programs that can recognize patterns and execute actions based on those patterns. AI is comprised of programs such as self-driving cars, automated service and telemarketing services, scheduling services and more. Because AI software is constantly updated, homeowners and business owners should be able to communicate with their agents and managers through their smart phones or tablets.