Professional Documents
Culture Documents
Real Estate Technology
Real Estate Technology
Real Estate Technology
TECHNOLOGY &
DIGITAL MARKETING
GROUP LEADER: Ms Ann Gelyn Macaldo
Members:
Mr. Jerome John Selim
Ms Nova Manulat-Felicita
Ms Sauda L. Sarip
Ms Lyka F. Pajarillo
REAL ESTATE TECHNOLOGY
TRENDS
IN 2022–2025
1. ARTIFICIAL INTELLIGENCE
Artificial intelligence (AI), along with machine learning and
virtual assistants, is undoubtedly the future of real estate
technology, as it has the potential to transform the way companies
operate completely.
Overall, AI has undisputedly been one of the most significant advances in real estate technology trends and is likely to become
even more integral in the years to come.
Example:
Rex Homes uses AI algorithms that place ads on different channels (e.g.,
social media, marketplaces) based on target audience metrics, such as
purchase history. Their specialists also use programmed robots that can
answer almost any question about the real estate object they're showing to
potential buyers. As a result, within two years of launch, they closed 231
deals, raised $25.5 million, and reduced brokerage commission to 2%
compared to the average of 5-6%.
2. IMMERSIVE TECHNOLOGIES
Immersive technologies allow you to provide prospective clients
with an immersive 3D experience of a property, which helps
visualize what it would be like to live on sight with the power of
virtual or augmented reality.
Example
Artisan Staged Homes & Room Redesign uses visual staging for empty properties,
which allows them to increase the average sales profit by 17% and sell 87% faster.
On a different scale, PIXO uses VR training in construction, which helps learn the
same material 40-60% faster than in a traditional setting.
Augmented Reality
Virtual Reality
3. INTERNET OF THINGS
Internet of Things (IoT) smart devices can do more than just monitor the
physical environment of a building; they can also help monitor activity
and protect from unauthorized usage. For example, IoT sensors are used
in various systems within buildings to track water pressure and electricity
IoT
usage. You’ll know if something needs maintenance if any of the
indicators are off the charts.
In the coming years, IoT devices will also become increasingly intertwined with
other aspects of real estate management. For example, this real estate technology
can be used to:
• Help regulate heating and cooling systems to save energy and reduce costs for
property owners;
• Connect with smart locks, so you can control access remotely or based on
specific conditions;
• Enable agents to provide a more personalized and seamless experience;
• Monitor customer activity on the property so that agents can respond to any
inquiries quickly and efficiently;
• Send automated notifications about maintenance issues or late payments.
All in all, IoT devices are set to revolutionize the real estate market in the
coming years. By leveraging this powerful technology, real estate agents
can provide a more tailored and efficient service to their clients. This
could potentially increase customer satisfaction and loyalty.
Example
Such real estate software can also be used to automate certain property management tasks, such as scheduling
maintenance work or controlling the flow of people into specific areas.
BMS is set to be one of the most important technology trends in real estate, as it can ensure more efficient resource
usage and help turn ordinary buildings into smart homes. By automating certain aspects of building management, BMS
can save time and money, thus freeing up resources that can be used elsewhere in the organization.
Additionally, they allow property managers to monitor the physical environment of residential and commercial
buildings in real time, which can help them detect potential issues before they become serious.
The technology can also help building managers provide a more personalized experience for property buyers,
potentially increasing their satisfaction and loyalty.
Based on customer needs and preferences, BMS can be used to automatically adjust the temperature of a room
according to the occupants' desired settings or turn off lights when no one is in the room.
Example
BMS is mostly used to cut energy costs, and even governments see the benefit in saving up to 30% of energy. For
example, in the European Union countries, such systems will become mandatory by 2025, and in the UK, they are
recommended for buildings with an over 290 kW effective output. Additionally, they help maintain buildings and fix
potential issues before they become a huge problem.
5. BIG DATA ANALYTICS
By leveraging such powerful technologies as big data and analytics, agents can gain valuable insights into
customer behavior, market trends, and investment opportunities. This will enable them to make timely and
informed decisions that can improve business performance.
Using big data and analytics can also help real estate agents understand
their audience better. By collecting and analyzing customer data, agents
can gain a deeper understanding of their preferences and needs.
Big data analytics will enable more personalized
services that could potentially increase customer
satisfaction and loyalty. Additionally, it can detect
patterns in customer behavior, which can then be
used to target marketing campaigns and promotions
better.
Example
The real estate listing platform Redfin uses big data analytics to provide users with insights. For example, it can show
how likely a property is to sell within a certain period, which creates a sense of urgency for potential buyers. However,
this isn’t some empty marketing ploy but rather actual data.
6. PROPERTY MANAGEMENT SOFTWARE
CRM systems are a life-saver in the real estate market. They allow real estate agents and property managers to easily
store and manage client information, keep track of real estate deals in progress, and make sure sensitive documents
remain secure.
Real estate management software can benefit the real estate industry in many ways:
• Streamline communication between agents, landlords, and tenants;
• Efficiently process applications, leases, and property maintenance;
• Enable agents to easily keep track of their various real estate listings, as well as store all relevant documentation and
property data securely in one place;
• Provide real-time updates about the status of a property and allow a real estate agent to respond quickly and manage
any issues that arise;
• Offer various analytics tools that assist agents and property owners in identifying trends in customer behavior,
measuring their performance, and gaining valuable insights into the market.
All these features can ultimately lead to improved efficiency and profitability for the real estate sector.
Example
Blockchain-based smart contracts can also enable faster and more secure transactions immune to fraud or manipulation. Smart
contracts are digitally signed, legally binding agreements between two parties that ensure all conditions set out in the agreement are
automatically met without manual intervention.
Real estate technology trends like this eliminate middlemen, reduce transaction costs, and can facilitate faster completion of real
estate transactions.
8. PROPERTY AGGREGATION
PLATFORMS
Numerous companies nowadays have an online presence where they list properties
in their portfolio for their clients to view. However, what if they had access to a
platform that collects data from multiple sources and provides them with up-to-date
listings at their fingertips?
That's where property aggregation platforms can do wonders in the real estate
industry, making it easier for agents to find the perfect property for their clients
while also allowing them to compare prices and gain property industry insights.
Drones may be the most impactful piece of tech used in real estate.
Agents devise various uses for them, not limited to aerial
photography; some agencies even offer virtual property tours guided
by drones with high-resolution equipment. Keller Williams and
Realtor.com use drones for this very purpose.
10. DATA SECURITY
Aside from governmental regulations, protecting sensitive data is a matter of reputation for any real estate business. The real estate
industry is no exception because businesses hold volumes of valuable information about real people that can be used and abused for
many purposes, like phishing for credentials of bank data.
The data security trend is, by far, the most essential one in real estate development going forward and will stay a priority after 2025.
Many software companies and startups offer solutions for encrypting data, monitoring and preventing cyberattacks, securing
network traffic, and managing risk. But there are also tools for tracking regulation compliance so that you don’t run into issues with
data security laws.
There are building cybersecurity tools that enable security staff to manage risk and access systems remotely to manage
vulnerabilities and backup data. This allows you to provide a safer working environment on real estate development sights.
Example
Tokeny offers a blockchain platform that offers real estate security tokens. Tokenization helps combat poor accessibility of
properties due to physical location, low liquidity, and siloed data. Tokeny was hired in 2020 to fund real estate in Luxembourg, and
as a result, the platform helped cut compliance and administrative costs by 90%.
10. DATA SECURITY
11. DIGITAL TWINS
A digital twin in real estate industry serves as a virtual replica
of objects, systems, processes, or even people. It faithfully
mirrors the form and functions of the actual entity, staying
synchronized with it.
Furthermore, digital twins prove instrumental in adaptive urban planning. By continuously updating and
incorporating real-time data, these twins become living models that facilitate smarter decisions for evolving
cityscapes. They aid in addressing issues like traffic flow, public services optimization, and sustainable
development.
Example
In residential real estate, brokerages and agents harness the power of digital twins through virtual tour technology,
offering prospective buyers immersive three-dimensional replicas of listed properties.
On the commercial front, real estate agents and property managers employ digital twins on a larger scale, creating
comprehensive models that encompass entire ecosystems of substantial listings.
12. FRACTIONAL PROPERTY INVESTMENT
Equity, or fractional investment, is a real estate investment option in which the ownership of one property begins to decline
somewhat.
Investors choose additional participation because it is cheaper than purchasing a management asset. Some types of fractional
ownership allow for privacy.
Investors are not keeping track of the real estate implications. The management company is responsible for the maintenance of
the facility. Income from rental between owners. Investments also include a vacation in hotels once a year for one to two weeks.
Example
Lofty is a marketplace that let's anyone sell a house to investors online. Instead of the typical real estate transaction where one
seller sells to one buyer, Lofty is much more flexible. Sellers fractionalize their equity ownership in the property into smaller
units, so that anyone can buy a portion for as little as $50, allowing access to one of the best asset classes for people who have
previously been locked out. Sellers can also sell a portion of their equity (starting at just 10%) instead of the entire property or
create customized HELOC structures.
13. MOBILE APPLICATIONS USAGE
Mobile applications and mobile version have significantly transformed
the real estate landscape, providing innovative features for professionals
and consumers alike. Real-time communication is a cornerstone,
fostering seamless interaction among agents, buyers, and sellers.
Financial tools, including mortgage calculators, empower users to make
informed decisions conveniently. Push notifications ensure users are
promptly informed about property changes and real estate trends.
Real estate technology trends are continuing to advance and evolve, with more and more real estate
companies turning to tech-based solutions for their real estate needs. From property aggregation
platforms and drones to predictive analytics systems and custom software solutions, there's no denying
the real estate industry is changing drastically.
For any real estate company, staying on top of these software development trends in real estate is
crucial to ensure they remain competitive in the market. When partnering with an experienced software
and mobile applications development company like Geniusee, real estate businesses can reap the
benefits of these groundbreaking technologies and stay ahead of their competitors.