Technology rules the roost. In 2018, we are dependent on our smartphones, laptops and Wi-fi-connected devices. This is nothing new, and I’ve mentioned this before in countless blogs. What’s truly impressive about technology is just how quickly it’s advanced and how large of an impact it has had. Roughly every single industry in the world has felt the wide-sweeping effects of technology. With that being said, how has it affected real estate? Let’s take a look.
Artificial intelligence seems to be the hot trend that every industry is riding right now. Google is incorporating it into its devices, software and services and Tesla is using it to drive its cars. It’s a very real possibility that our society, for the most part, will be run by artificial intelligence. Real estate isn’t safe from AI’s reach. At the moment, AI is being used to sell homes. Today’s AI programs are capable of analyzing listings, finding likely buyers and then promoting the listing on those buyers’ channels. It’s incredibly sophisticated software, and it could put real estate agents out of a job.
Think about how most companies use social media today. They use it as a platform to stay engaged with their audience and to advertise to their customers. Snapchat, Facebook, Instagram, Twitter, these are all social media platforms that can be used to reach out to customers, and real estate agents can utilize these platforms. For Facebook or Instagram, real estate agents can share live videos and offer tours of listings in order to accommodate any buyers who are not able to physically attend; Snapchat also allows for some creative ways to engage with users, like geofilters and masks. These are fun, creative and contemporary ways to engage with buyers.
Sometimes, in the world of real estate, you’ll need a notarized document in order to close out a deal. Finding a time that works for you and the notary can be difficult, but with today’s technology, the entire process can be made virtual. With services like Notarize, documents can be notarized electronically, allowing a document to be notarized from virtually anywhere at any time.
Technology is a magnificent aspect of our society. It has allowed us to do so much, and for industries, like real estate, to grow and evolve. These are only a few ways that technology has affected real estate. Perhaps I will publish another blog with even more tech that’s shaping and progressing real estate.