2020 was shaping up to be a bumper year for home sales in the Pittsburgh region before real estate agents were forced into a holding pattern by the coronavirus
What is the future of real estate?
Digitalization is the future of real estate. Below you can see some relevant examples:
1. Smartphone Apps
Real estate application development is the aspect to consider for all agents or real estate business owners. Mobility is now the key to success and a great advantage in the increasingly changing and competitive environment. Most CRM and real estate software products development processes come with mobile apps already, however, it is predicted to become even more popular and practical next 2020 year. It can allow agents access property details, as well as the necessary documents and tools any time even on the go and get any information required right at the palm.
2. A Shift to the Cloud
Cloud property management software solutions are becoming increasingly popular among evolving digital real estate trends. Such software allows quick and hassles access to the property information and financial data any time from any place. The property owners and tenants can just log in to the system and check whatever they want. There is no necessity to write emails or to make phone calls anymore. It creates an additional bonus of minimizing the amount of communication.
To discuss modern digital trends without mentioning Blockchain is nonsense and real estate is not an exclusion. In 2020, we can expect more properties sold via blockchain technology. The transactions made do not then require any middlemen or bank verification. Though the technology was overhyped in 2019, now real use cases for it can be seen beyond payments and digital currencies. Blockchain is going to be widely applied in real estate and asset management giving it the fresh start. At present, it can be thought of as an operating web-based real estate market with active business, benefiting from transparency and security. Financial scams and cyber-attacks have little chances with this innovative technology. It’s due to the fact that there is no single authority holding the record of the transactions exist.
4. Augmented Reality and the Industry
AR is another ground-breaking technology combining virtual reality and real-world content. The technology can be used, to see what a property would look or looks like through virtual tours, which will also help secure a property sale or rent.
There are already commercial real estate software products, which help scan buildings and watch the available spaces inside, getting all kinds of information on the property. Some of such applications are already able to go as far as to connect the clients with the agents directly. Though the have not come into wide usage yet, many experts believe Augmented Reality will influence the future of the real estate industry. 2020 is a perfect start for this.