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How Are New Technologies Affecting Real Estate?

Here are 6 ways that new technologies are making an impact within the real estate market. 
Vasid Qureshi
March 9, 2022
3 min

It's safe to say that technology has become integrated into almost every part of our everyday lives. From finding a quick ride for a night out on the town to learning how to make the perfect beef bolognese, technology is there to make our lives easier.  

New technologies are having their effect on real estate too. Technology has eliminated outdated practices and created a sphere for rapid advancement within the industry. Look no further to learn more about how you can utilize technology in the real estate realm, and to better understand how these technologies are making an impact within the real estate market. 

1) Online listings and mobile apps 

Thanks to popular websites that offer an easy way to discover new listings as they hit the market, it's now easier than ever for anyone to see what inventory is available. Along with detailed photos and descriptions of properties, buyers can also view tax history, school ratings and other nuanced details with a single click. With mobile apps related to real estate, you can easily be notified when new listings come along without even needing to do a search for yourself. 

2) Find an agent fast 

There is no doubting that utilizing a competent real estate agent is important whether you're buying or selling property. Technology has made finding the agent for you easier than ever. Click on Zillow's "Agent Finder" and active agents within your area are listed with no effort of sifting and sorting on your end. You can see real-time transactional data about each agent, such as which agent sells the fastest, or how many sales have been made within their career. These are all extremely useful when selecting the right professional to get you to the closing table. 

3) 3-D virtual tours 

The added technology of 3-D virtual tours takes listings beyond photos to give the buyer a more realistic feeling of the property before they decide to schedule a showing. Feel like you've just walked through space without wasting the time of agents and the seller saves everyone time and money, all thanks to technology. 

4) Utilizing digital e-signing  

The onset of e-signing documents has made real estate transactions less painful for all parties. Old methods of signing in real life are a thing of the past. Now you can e-sign with the click of a button from your phone, from anywhere in the world. Legal e-signature services not only add convenience to the transaction but also provide a safer way to get the deal done during current times. 

5) Investing in property with lifestyle in mind

With the onset of work-from-home being more commonplace than ever before, investing in real estate with lifestyle in mind is moving to the forefront. Zoom meetings make getting business done from anywhere effortless. Considering that many folks are no longer commuting to-and-from the office, many also have decided to ditch owning a vehicle altogether. This makes purchasing a home without a garage something more desirable, for example. 

6) Giving your home a "smart" touch 

As technology advances to make our lives easier, it also is there to make our homes smarter. Think about the added energy efficiency of adding a smart thermostat to your space or consider the security that wireless cameras can deliver. All these small smart touches in your home can add up to big bucks when it's time to sell in today's real estate market. Data on how much equity smart home devices can add is varied, but in some instances, it can add about 35% of value to your home. 

  

This article was written by Vasid Qureshi from TechBullion and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com.

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Vasid Qureshi

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