The real estate market has seen a positive change over the years, and this is because of the technological progress that makes business more efficient and convenient. Due to the advancement in technology, for instance, real estate marketing was upgraded, and homebuyers do now have a broader choice when it comes to buying properties.
That’s why if you’re into real estate business, it will be to your advantage to know what’s the latest in technology to keep up with the business competition. For a little help, here are the trends in technology that made a buzz in the real estate industry in 2018.
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Data and Dark Analytics
The use of data analytics can bring a lot of advantage to any business, especially in real estate. If you want to catch up with the competition, this is one of the tech trends that you should study and apply to your business. In fact, there’s the latest type of analytics that people in the real estate industry are now adopting: the Dark Analytics.
Dark analytics typically means looking at raw data like videos, images, audio, text messages and emails to provide insights about consumer patterns. It will allow the user to predict through machine learning techniques if someone is going to sell his/her real estate property.
Blockchain technology enables the distribution of digital data but blocks the copying of that information. In fact, it’s the technology behind the digital currency, Bitcoin, and tech enthusiasts are now finding other ways to use Blockchain.
Blockchain can be useful in creating an incorruptible database for your business transactions. Using this technology, you can minimize fraud and guarantee the data integrity of doing business with your customers and clients.
Due to the advancement in technology that gets better and better every day, AI has now significantly improved the processing of natural language that chatbots and virtual assistants adopt for businesses. These bots powered by AI can make business marketing and customer service more efficient and convenient on the part of employees and consumers.
In real estate business, for example, you can utilize chatbots and virtual assistants to answer customer queries about properties or what-not. It can also help in generating leads that’s sure a boon to your real estate business. In fact, many real estate developer websites such as https://precondo.ca/ are now utilizing chatbots as part of their marketing approach.
The Internet of Things
The Internet of Things has become a hot subject on the world wide web because it promises the idea of a connected smart home.
The Internet of Things (IoT) is a bunch of devices like smartphones, cars, wearable gadgets, home appliances that are connected to the Internet. With the development of smaller and more powerful chips, any gadgets that you can monitor or control from a remote location or a central hub can be called an IoT gadget.
When you have this high-tech data stored on the Internet, businesses can use this information and analyze it for business purposes. It will be a big help to the real estate industry because it can provide real estate businesses and consumers the information that they need.
The development of Augmented and Virtual Reality can allow buyers of real estate properties to have a better experience on inspecting a property that they want to buy. For instance, you can have a virtual tour around your home prospect through AR/VR technology, especially if you can’t do a physical home inspection of the property.
The AR/VR technology can also be beneficial to developers since it can help in advertising their real estate properties even if it’s yet to be completed.
Due to the technological progress that we’re enjoying today, people who are into real estate businesses can utilize this development to improve business marketing and generate excellent profits. It’s essential that you’re in the loop about the latest technological trends for you to outstand your competitors and make a success out of your business.