As investors progressively favor new business models and the tech-enabled ecosystem, property companies realign their priorities and adapt to new requirements in the commercial real estate sector.
FREMONT, CA: technological advancements have transformed nearly every sector in the latest years, and real estate is no exception. As new techniques such as Virtual Reality (VR), cloud, and blockchain continue to break into the mainstream market, real estate experts see a wide variety of prospective sector apps. Here are three techniques taking the real estate paradigm towards the mainstream.
VR is becoming increasingly common among customers and companies and stands tailor-made for real estate practices. Forward-thinking realtors are already shifting beyond photos, 360-degree video, to 3D virtual property "tours." The market has distinct rates of 3D aggregators, but they are still for real estate in the early days. The value proposition of the real estate company makes the 3D home tours experience "immersive."
The process of choosing and buying property can be simplified for both business and residential purchases with digital signatures, thanks to cloud and better information management apps. It can take just days now, what once took weeks or months.
Blockchain is seeking a lot of attention these days, but bitcoin and other cryptocurrencies are a big piece of that. Cryptocurrencies have a place in real estate transactions, but the safety, transparency, and effectiveness innovations of blockchain are what matters to genuine property buyers, vendors, and renters. These are the advantages that will enable the sector to standardize online transactions and scale them up.
The real estate sector is still in the technological innovation phase of its infancy. While the world starts to see more VR apps, the cloud and blockchain, a few years ago, were all pipe dreams in the real property globe. As technology remains to become more omnipresent, we can expect that property purchasing will continue to revolutionize.