Real estate is one of the most valuable things that a person can own. People literally spend months, even years, searching for the perfect property to plan the next chapter of their lives. In real estate people can plan and build their next homes, work spaces, investment property portfolios, businesses…basically any type of property that has the potential for a new stage in someone’s life. Historically a traditional sector, real estate has done well to avoid technological disruption up until this point. However, now that the weight of the world’s obsession with tech and digitalisation has hit such an irreversible point, there is no going back, and all industries must adapt – even real estate.
Technology might have taken a while to infiltrate the real estate industry, but now that it is finally here it is taking phenomenally large leaps and bounds, transpiring at an exceedingly impressive rate and advancing all the time. Take the key features of property listings today, for example. From the latest and greatest advanced security shutters, to property-wide home security systems, the features that real estate listings today are boasting are changing the game for real estate. Prospective buyers and even renters today are so familiar with technological advancement that they expect their properties to embody those same familiarities. Buyers and renters now place more value on properties that have tech-savvy traits than ever before - even stubbornly so.
Additionally, technology is transforming the real estate industry from the other side of the table as well. Real estate agencies and realtors alike are embracing technological impact for all that it can offer.. One fantastic example of this is the introduction of VR (virtual reality) inspections. Interested parties can now view properties online via 3D videography. This enables them to feel like they are actually walking through the property, getting the full experience, without having to be there in real-time. Because the modern individual is increasingly busy, having to take the time out to physically view potential properties is not always probable, or even possible. For this reason, VR inspections are revolutionary. And this is just one prime example of the industry embracing technology and digitalisation.
We have well and truly entered the digital age. It is seeping into every possible aspect of our lives. What we are currently dealing with, not only in real estate but in industries around the world, is an entirely new modernised ecosystem that inspires a kind of evolution wherever it touches. Entirely transformed in the wake of technological innovation, real estate is one of the last traditionally-clad industries to feel the keen sting of digital rejuvenation. In a world where we are exceedingly digitally-inclined, it is exciting to note that all industries, in their own ways, are becoming fluent in the technological disruption that we have become so accustomed, so familiar with. In terms of real estate specifically, this is just the beginning of what is likely to be an astonishing step into the digital stratosphere the world over.