What's the future of real estate tech?

March 29, 2018

The real estate industry has seen so much tech investment and adoption in recent years that real estate professionals have to work hard to keep up. So what comes next? 

In the past few years, there have been two distinct trends in real estate tech, according to Forbes. First there was "complementary" technology that simply made previously manual processes a little more automated, then came options to "challenge" existing norms without totally overthrowing them.

What's in the future?
Next, however, could be the game-changers that utilize "big data" and really use cutting-edge tech to its fullest potential. These are already starting to make their way into the market in terms of virtual and augmented reality, artificial intelligence and other practical applications.

However, a few years down the line the so-called "synthesis" tech, which, as the name implies, would become inextricably interweaved with all aspects of the real estate sales process, could dramatically change the sector as it has existed for decades.

Keep an eye out
With this in mind, it's vital for agents to maintain a close watch on the "trending" new tech offerings in the industry and see if they will work well based on what agents need today, according to Boston Agent Magazine. Not all such tech in the sector will have a strong service from which agents can get a lot of mileage themselves; some are client-facing, while others may be developed with bigger companies in mind.

The most important thing for agents to do is keep an open mind about how various tech offerings might be able to help them advance their business in the years to come.