Whether you’re looking to buy or rent a home or you’re an agent trying to sell one, pulling up listings to browse on your phone or tablet is the norm these days. But that’s just the tip of a huge iceberg that’s hitting the real estate world as technology continues to play an impactful role in how both consumers and industry professionals are approaching the market.
There’s a lot of opportunity with both residential and commercial properties to use today’s technology in real estate and help grow the country’s largest asset worth an estimated $40 trillion. Here are five ways tech is changing the industry:
1. Online listings
Websites make it easy for anyone to view inventory and see what’s available. Along with photos and detailed descriptions of the properties, you can find tax and purchase history, school ratings and other neighborhood info. Want a satellite view to check out how close you might be to a highway or shopping center? You got it.
2. Mobile apps
All of those sites have apps too — technology that keeps you informed without having to do a thing. You’ll get notifications about new properties and listings that fit your search criteria. Plus, apps can help with your budget and quick access to agents and property managers.
3. 3-D virtual tours
Going beyond photos, new software allows buyers and sellers to take a 3-D virtual tour of a residential or commercial property, making it feel as if you were walking through the space in person.
4. Online investing
Real estate investing is taking a cue from the popularity of crowdsourcing. Some new websites are making it a mission to let anyone invest in high-quality real estate by pooling their resources online.
5. E-signing services
New platforms are becoming available to complete multiparty real estate transactions, save time and stay organized. From secure and legal e-signatures to personal task lists to simple file sharing, this type of technology is not only improving efficiency but also changing how agents respond to their clients.