Technology has come a long way. According to Phone Arena, the average smartphone user has around 30,233 times more power than the guidance computer used in the Apollo moon landing mission. It's hard to find any industry untouched by this digital revolution.
The real estate industry is highly susceptible to technological change. Just look at how the industry evolved in the internet era. If you can predict the latest trends in real estate technology it will help you make smart investment decisions.
Interested in gaining insight into the real estate trends of the future? Read on to learn more about the innovations shaping the industry.
Powerful AI Algorithms
It's clear that future property management tech will be powered by AI. One of the key responsibilities of property management companies is finding appropriate property for clients. For example, in residential real estate professionals need to find a property that aligns with the client's lifestyle and also has the potential for high returns.
According to Investopedia, machine learning algorithms excel at finding specific information in vast datasets - perfect for finding that one-in-a-million real estate listing that aligns perfectly with your client's wishes. Given that finding such a listing could take hours of painstaking research for a seasoned property management professional machine learning real estate software could offer incredible productivity gains in 2025.
Smart Home Technology
Smart home systems are another way real estate professionals can boost their efficiency. Utility bills are a significant expense, even when a property is vacant. If a house sits unheated all winter, the cold could cause serious structural problems.
The solution is to let the HVAC system heat the home just enough to prevent damage. Manually turning on the system is complicated and requires coordination. Smart home sensors can help simplify things by letting property managers automate HVAC systems in a central management portal.
Thanks to advanced AI-based real estate technology, these systems are set to get even smarter, property managers simply can't ignore smart technology. Expect to see more smart home systems in 2025.
Virtual Reality Tours
While there's no replacement for seeing a property in person, virtual reality tours have persisted even after the COVID-19 lockdowns that popularized them have ended. While touring the property in the real world is always preferable, it isn't always feasible.
For example, what if a manager has a client from overseas? Virtual reality tours allow property managers to reach clients who'd otherwise be unreachable. While virtual reality will likely remain a niche option, VR technology will improve significantly in 2025.
Need Advice About Real Estate Technology?
Trying to understand the latest real estate technology can be confusing and frustrating, particularly for investors who are not tech-savvy. But, if you want to maximize your return on investment and ensure future financial stability, you'll need to embrace digital real estate solutions.
Is real estate tech leaving you feeling perplexed? PMI Loudoun can help. We have decades of experience utilizing cutting-edge technology to maximize our clients' investment returns. Contact us today to learn why so many property owners trust us for their real estate needs.
