These Real Estate Technology Innovations Are Making Big Waves in 2022

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Home Stager with Caprice Weston's Home Staging

Credit: wirestock Via Freepik

 

Real estate is getting more technologically plugged in with each passing year, thanks to rapidly increasing internet penetration, the growing prevalence of emerging technologies, and a new crop of thought leaders eager to shake up the industry.

 

In this article, let’s review a few real estate tech trends to keep your eye on – whether you’re buying, selling, or working in real estate.

 

Immersive AR/VR Technologies for Property Touring

 

The pandemic was a major catalyst for change in the real estate industry. As restrictions forced people indoors, homebuyers and sellers sought alternative ways to show and tour homes. And out of necessity comes innovation.

 

While virtual showings have become normal in the industry, expect to see Artificial Reality (AR) and Virtual Reality (VR) become more prevalent in the future. These exciting new technologies facilitate immersive property touring experiences, delighting prospective buyers and allowing sellers to advertise their assets to remote parties.

 

Digital Marketplaces for Buyers and Sellers

 

According to Nobul CEO Regan McGee, his digital marketplace “brings choice, accountability and transparency to an industry that has – for decades – been widely regarded by homebuyers as opaque and challenging.” Nobul is a win for first-time homebuyers, a platform that connects them with real estate agents who actively compete for their business.

 

The free digital marketplace uses a proprietary algorithm to match buyers (and sellers) with real estate agents aligned with their criteria and values. While it owes initial success to first-time and millennial homebuyers, the marketplace is catching on with seasoned investors too.

 

Blockchain and Tokenization

 

Blockchain technology makes headlines as a ledger for Bitcoin transactions, but its applications and implications reach far beyond the cryptocurrency. Because blockchain is immutable (read: impossible to tamper with), instantaneous, and publicly visible, real estate investors are using it to bring greater accountability and convenience to the process.

 

Blockchain technology has also given rise to “real estate tokenization,” whereby real estate investors can purchase a small fraction of a property, rather than the entire thing. This innovation could lower the bar for real estate investment, allowing a flood of new investors to hop on board.

 

IoT in Property Management for Seniors

 

The field of property management is no stranger to tech trends. Recently, initiatives like Telus Smart Building are merging together IoT (the Internet of Things) with senior property management to create securer, more accessible living spaces.

 

Using smart devices like motion detectors, water pressure monitors, smart thermostats, remote control blinds, smart air purifiers and telehealth devices, property managers can ensure that senior residents with mobility issues stay safe, healthy and comfortable.

 

Keep your ear to the ground for more real estate tech trends in the future. The world of real estate is rapidly evolving alongside new technologies and innovative thinkers. Advancements like IoT, AR/VR, blockchain and digital marketplaces spur the industry to become more transparent, accessible, democratic and – frankly – exciting. Here’s to a bright future for real estate.

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