{"id":13302,"date":"2020-11-30T22:36:19","date_gmt":"2020-11-30T17:06:19","guid":{"rendered":"https:\/\/www.stechguide.com\/?p=13302"},"modified":"2020-11-30T22:36:19","modified_gmt":"2020-11-30T17:06:19","slug":"5-real-estate-technology-innovations","status":"publish","type":"post","link":"https:\/\/www.stechguide.com\/5-real-estate-technology-innovations\/","title":{"rendered":"5 Real Estate Technology Innovations"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Real estate often embraces technology. When people look for new houses or apartments, they want as many tools as possible to make the process easier. Realtors also want to streamline the home listing and showing processes. <\/span><a href=\"https:\/\/www.forbes.com\/sites\/bernardmarr\/2020\/02\/03\/the-top-proptech-trends-6-technologies-disrupting-the-property-and-real-estate-industry\/?sh=2e1d7a86dc16\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"font-weight: 400;\">Several technologies exist now<\/span><\/a><span style=\"font-weight: 400;\">\u00a0that are changing the real estate game. We\u2019ll look at a few of them in this article.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Blockchain<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Many niches are finding blockchain useful, and the real estate industry is one of them. Blockchain can help with things like\u00a0<\/span><a href=\"https:\/\/www.payhoa.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">condo association management software<\/span><\/a><span style=\"font-weight: 400;\">, as well as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Renting properties<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Buying properties<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Selling houses, condos, or apartments<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Any time someone buys, sells, or rents a property, they exchange a lot of money and information. At one point, people conducted these high-value asset transactions offline. They exchanged a lot of paperwork and had to keep track of all of it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These person-to-person engagements took time, and they were not the most secure. It was possible that someone could lose a document, which slowed up the sale or rental process.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With blockchain, this process has evolved. Now, you can tokenize and trade cryptocurrencies. You can also use it for encrypted transaction verification. You can be sure no one is tampering with your financial records this way.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">5G<\/span><\/h3>\n<p><a href=\"https:\/\/www.pcmag.com\/news\/what-is-5g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"font-weight: 400;\">Phone companies are rolling out 5G right now<\/span><\/a><span style=\"font-weight: 400;\">. Many individuals are very excited about it. They will have better smartphone service and better internet access when they\u2019re at home.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">5G has real estate industry applications as well. With it, you can:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up commercial building camera systems<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up residential camera systems<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you have a real estate company and monitor some apartment buildings you own to make sure there\u2019s no criminal activity happening there, you can set up a camera or sensor network to do that. With 5G in place, you can connect them to produce high-def images and transmit them anywhere instantly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can check on your property in real-time. If there\u2019s civil unrest or you hear that a police chase is going on in that neighborhood, you can instantly pull up the camera feed to see if your property is\u00a0<\/span><span style=\"font-weight: 400;\">secure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a real estate agent, you can also set up cameras for homes you\u2019re trying to sell. You can check on them in the same way you would commercial properties.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Machine-Learning and AI<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">At one point, it was a tedious process to sell, find, purchase, and view properties.<\/span><a href=\"https:\/\/www.technologyreview.com\/2018\/11\/17\/103781\/what-is-machine-learning-we-drew-you-another-flowchart\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"font-weight: 400;\">\u00a0Now, you can use machine learning<\/span><\/a><span style=\"font-weight: 400;\">\u00a0and AI to make that process a lot easier, regardless of whether you\u2019re a real estate agent or a house hunter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Companies are creating machine learning-powered real estate mobile apps. They can predict rent rate fluctuations, which potential renters appreciate. Someone who\u2019s hunting in a particular neighborhood can tell whether they can afford it with their current salary or whether they\u2019re better off looking elsewhere.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Real estate app chatbots can answer many customer questions. A possible buyer will not need to contact their real estate agent for every query they have.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AI can also personalize the customer experience. A house hunter can use it for a tailored search. The app can look at home value trends, nearby restaurants, stores, hospitals, schools, etc., and determine a potential buyer\u2019s interest level.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Augmented and Virtual Reality<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Many real estate agencies and individuals are also using augmented and\u00a0<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/v\/virtual-reality.asp\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"font-weight: 400;\">virtual reality apps<\/span><\/a><span style=\"font-weight: 400;\">. Online property searching is now convenient, fun, and interactive in a way it never was before.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can visit a property through a virtual tour feature. As a property manager, you don\u2019t have to meet up with a prospective buyer every time they want to look at one of your listings. They can use the app to go through the house or apartment, and if it seems like a good fit, they can see it in person.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With augmented reality, a person can superimpose their furniture over the physical space to see how it will look and if it will fit. Real estate companies no longer have to use couches, chairs, TVs, etc., to stage a property, saving them money.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Smart Locks<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Real estate companies can also install smart locks on their property doors. This way, a potential buyer does not need a key to get in.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They get to the property, and then they call the real estate agent. The agent can use their smartphone and open the door, and the individual or family can enter. Once they finish, they call or text the real estate agent, and the agent uses the phone app to lock up after them.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate often embraces technology. When people look for new houses or apartments, they want as many tools as possible to make the process easier. Realtors also want to streamline the home listing and showing processes. Several technologies exist now\u00a0that are changing the real estate game. We\u2019ll look at a few of them in this <\/p>\n","protected":false},"author":1,"featured_media":13303,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[12949,12893],"tags":[14347,14346],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Real Estate Technology Innovations<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stechguide.com\/5-real-estate-technology-innovations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Real Estate Technology Innovations\" \/>\n<meta property=\"og:description\" content=\"Real estate often embraces technology. 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