What Are The Top Tech Trends Driving The Real Estate Industry In 2021?

The real estate business is such that it impacts a large portion of the population. Its influence can be felt by someone who rents office space or an apartment to someone who owns or invests in property. Real estate software solution is transforming the way in which individuals sell, buy, rent or own a commercial space, apartment, or home. This is why more and more real estate players are beginning to grasp the numerous advantages of leveraging and investing in real estate software development.

Without further ado, let’s look at some of the trends and cutting-edge technology being used in the real estate sector.

Fractional Property Investment

The sky-high costs of property typically tend to exclude a lot of would-be buyers. Fractional property investments are serving to close this gap. Fractional ownership takes into account part ownership of a lucrative asset. Groups or individuals can start investing in property which they can then purchase in full at a later date.

Leveraging blockchain solutions, group investors are all able to benefit from rental income (in direct proportion to how much they’ve invested) through their fractionally owned property, giving them an added revenue stream. With a fractional property investment, you will be able to diversify your investment and discover the value of your property.

Automated Rental and Purchasing Property Platforms

No longer is it necessary to go apartment hunting aimlessly via web listings and take time out to make appointments to check prospective ones. Currently, there are scores of apps that empower apartment seekers to narrow down their choice at their own convenience. This real estate software solution allows them to find the ideal apartment, get in touch with the relevant agent and smoothly close the deal. These apps are equipped with regularly updated databases that offer well-timed notifications regarding fresh properties that have come on the market as well as those that have been taken off.

Real Estate Business Intelligence

Insights extracted from Artificial Intelligence (AI), Machine Learning (ML) and Big data solutions are enhancing the manner in which apartments are rented and property is sold across the real estate landscape. It’s no wonder that several agencies are on the lookout for real estate software development to cater to their needs.

When powered by machine learning (ML) tech, real estate applications are able to forecast rent rate fluctuations offering 90% accuracy and further shifts in property trends can be forecast at 60% accuracy. This data is vital and gives clients sufficient insights into making sound property decisions whether for commercial or residential property.

Additionally, armed with ML algorithms real estate apps learn a prospect’s preferences in terms of the property they’ve looked for previously and customizes the search results to their specific needs.

3D Virtual House and Apartment Tours

Immersive real estate software solutions like VR allow potential homeowners to virtually tour several properties before selecting one that meets all their criteria. These solutions give prospective buyers realistic views of the property together with the locality and furniture and details within the interiors.

It’s true that a lot of would-be buyers will want to physically verify the property prior to finalizing one. Yet, with VR technology, rather than unnecessarily trudging off to ten or fifteen houses to locate the ideal one, you can narrow down your search through virtual tours, and everyone involved is spared the inconvenience and effort.

As is clear from the points made above, there is a massive amount of avenues for real estate software solutions to be used in this sector. In the years to come, the increasing innovations in real estate will transform the lives of innumerable individuals.