Real Estate Software Solutions -Trends In 2021 That Shaping The Industry

$200 trillion, yes, that is approximately the global value of the real estate market in the world’s economy. What’s more, realtors have begun to take advantage of emerging technologies to revolutionize their businesses. With that in mind, here’s how the top tech trends and real estate software solutions are shaping up in 2021 and beyond.

Artificial Intelligence and Automation

By means of AI-based software, you can considerably transform the manner in which you serve clients. Once they include specific search criteria, they will be able to gain real-time results about properties available according to their preference parameters. Moreover, you can share customized listings before the client even approaches you.

3D Virtual House and Apartment Tours

Virtual tours have pretty much been a requisite aspect of real estate software solutions for a while now. Despite the fact that virtual tours won’t entirely substitute in-person tours, virtual solutions are serving as a valuable means in the early phases of the property selling process. These tours are bringing in higher amounts of leads and also sift out non-buying clients in advance, allowing agents to save precious time and money. 

Fractional Property Investment

As it facilitates fractional property ownership, blockchain also reduces obstacles to real estate investments. Usually, investments involve considerable capital as a down payment in order to purchase the property. On the other hand, investors can basically buy and sell even small fractions of tokens as and when they can, using a blockchain-based trading app. Furthermore, fractional ownership would mean that they won’t have to manage the properties themselves. 

Big Data

Big data is being exploited to extract voluminous data of varying statistical and technical levels to implement enhanced and insight-based business decisions. Leveraging big data via real estate software solutions equips you with insights on ownership costs, history of the property’s location and the property itself, future value forecasts, present value, mortgage estimates among other things.

Aerial photography

Agents are taking advantage of drone photography to capture rich footage of properties that offer bird’s eye viewing options for potential buyers. They also get a chance to view the neighbouring properties as well as the landscape. This in-depth viewing possibility serves as an influential aspect in making property highly attractive to potential buyers and increasing the likelihood of them closing the deal quickly.

Esigning and online property agreements

At present, several real estates and property deals are being carried out through video conferencing (in-person meetings have reduced drastically). Digital agreements and esigning are now the norms integrated into real estate software solutions and Cloud-based software that enable clients to electronically sign a lease, buying or rent agreement and other contracts.

Home automation and smart homes

The ever-growing millennial and Gen-Z homebuyers base across the world is a target market for home automation and smart homes. Smart homes allow property owners to conveniently execute several processes within their premises either automatically or through a remote control device.  These smart features not only bring in convenience but also serve to conserve electricity by keeping wastage under control.

Real estate to some degree or the other involves most of the world’s population including anyone that invests in a plot of land, owns the property, or rents an office building or a house. So, as you see, there is a massive amount of opportunities for real estate software solutions to be used in this industry. It is an emerging field that gives businesses of all sizes the chance to compete for a slice of the market share.