Tech In Real Estate: Measuring the Impact and Looking at the Future

Do you pine for the days when you had to rely on your local newspaper and zigzagging around neighborhoods looking for “For Sale” signs to find a place to call home? If so, you may be in the minority.

With the rapid evolution of real estate tech technology, those times are long gone. In an earlier blog, we talked about some broad real estate trends and how technological advancements were a key factor in shaping our course.

But this time around, we’ll be delving even deeper into the exciting realm of real estate technology and seeing how recent advancements are exerting influence on the market in ways that benefit both buyers and sellers.

The Rapid Rise of Real Estate Tech

Technology adoption in real estate was admittedly a little slower than it was in other industries. But now that more brokerages, escrow companies, and lenders are integrating technology into their processes, it’s unlikely that we’ll see ourselves going backwards.

Every week, it seems that there is a new tech trend in real estate that is trying to change the game. In a previous blog, we mentioned virtual reality tours, AI-driven property recommendations, and a couple of shining examples.

In 2021, we witnessed some exciting developments in real estate technology, including increased use of big data analytics, drone photography, and smart home features. These innovations have not only streamlined the industry but also created new opportunities for buyers and sellers alike.

Technologies that make the homebuying and selling process more efficient and enjoyable are likely to stick around.

How Tech and Real Estate Work Hand in Hand

Now that there’s some synergy between the two of them, you could say that real estate and technology make a great match for one another.

Agents can now provide even better services by tapping into cutting-edge tools and platforms, while home buyers and sellers are gifted with unrestricted access to the same data as many agents, offering them a much more informed and seamless experience.

With so much real estate data as well, AI-driven analytics are already making a difference in how we forecast the market and expertly move within it.

The future looks to be even more exciting, with even more groundbreaking innovations on the way. Augmented reality home staging, blockchain-based transactions for heightened security, and many more—there seem to be endless possibilities that will reshape what we think we know about the real estate industry.

What Does Real Estate Technology Means for Home Buyers

Technology on its own is exciting, but what does it all mean for a savvy home buyer? Well, most homebuyers have already been enjoying the benefits of technology for years.

Better Ability to Search for Properties

Applications like Zillow and Redfin enable today’s tech-savvy home buyers to search for their dream property from the comfort of their couch. With online listing platforms, 3D virtual tours, and AI-powered property matching, finding your perfect home has never been easier.

Gone are the days of chasing down newspaper ads and getting lost driving through neighborhoods!

Simplifying the Buying Process

The real estate purchase process has been greatly simplified thanks to automated tasks like mortgage pre-approval and document management. Since this translates to less paperwork, it’s natural that homebuyers can enjoy a faster, more efficient home shopping experience.

What Real Estate Technology Means for Home Sellers

Sure, home buyers are benefiting from technology. But does that mean it’s coming at the expense of homeowners selling their properties? Not quite—in fact, home sellers benefit from real estate tech just as greatly as home buyers.

Appeal to Buyers with Revolutionary Marketing

For a seller looking to list their home, real estate technology gives them access to a plethora of marketing tools that paint their property in the best light. Even something as standard as professional drone photography wasn’t practical a decade ago.

Other technology tools, like virtual staging, also give the seller the power to present their home in an immersive way that appeals to tech-savvy buyers searching with other tech-based tools.

Big Data, Big Returns

Big data, you say? There truly aren’t many pools of data bigger than the real estate industry. Thanks to the superpowers of big data, savvy home sellers can now make informed decisions about their pricing and marketing strategies.

Using these data-driven insights with the expertise of a local real estate professional makes a pixel-perfect combination for sellers to pinpoint an ideal target audience and optimize their listing for maximum exposure.

Integrated Technology with Gilpin Realty

At Gilpin Realty, we’ve been staying ahead of the curve for years when it comes to real estate technology. Our team has been quick to adopt and iterate on these innovations because we see the potential they have for helping us better serve our clients and ensure a seamless and enjoyable experience in the real estate market.

So, whether you’re a home buyer on the hunt for your dream property or a seller looking to gain the highest return, our pros at Gilpin Realty have you covered. Our combined expertise in both tech and real estate makes us your go-to guides to traverse the ever-evolving real estate market. Ready to level up your real estate technology game for your purchase or sale? Contact Gilpin Realty today, and let’s embark on your next great real estate adventure!