Tariffs. Government shutdowns. Stock market shenanigans. 2019 marks a period of uncertainty, with a variety of disruptors affecting not only real estate trends, but national and global affairs. However, the greatest disruptor is predicted to be Technology!
What Technology will Impact the Real Estate World in 2019?
Despite the overall economic slowdown expected, these emerging trends in tech could provide new opportunity for a market in flux:
New Platforms for Home Sales
iBuying, offering purchase of homes sight unseen based on a proprietary valuation model, is among the real estate trends luring sellers (and buyers) to off-the-beaten-path venues. Digitally-driven platforms such as Open Listings, Door, Rex, and Opendoor are luring buyers and sellers alike with flat-rate commissions, sight-unseen cash offers, and a more digital listing/shopping experience.
Continual Rise of AI
We’re not talking robots giving home tours. We’re talking artificial intelligence that can perform sophisticated data analysis capable of predicting market trends. The latest AI-powered platforms can aggregate once isolated data, constantly updating to arm agents and consumers with with all the information they need. This can help buyers/sellers negotiate the best deal and agents to immediately jump on sales leads.
As property videos increase in popularity, VR will soon be on the horizon.
Redefining real estate transactions, blockchain technology is facilitating major transactions (like real estate) without intermediaries (banks, credit card companies). With ‘tokenization,’ blockchain is opening the door to new opportunities for sellers, granting multiple investors the ability to buy just a portion of a property (and resell it).
Smart contracts via Propy and other services are allowing for purchasing transactions with no human interaction, which streamlines the process. In the future, it is hoped to pave the way for a smoother road, reducing fees, closing times, property title issues, and fraud.
What real estate trends are shaking up your world? Safeguard sales with the help of Properties Online today.