Technology touches every aspect of our lives, and real estate is no exception. In 2018 and beyond, both buyers and sellers can expect dramatic changes in how they view and list properties. This year, mobile will be stronger than ever and customers will continue to expect a personalized experience. A curated online experience will be created through data and virtual tours. Read on for the three major technologies poised to streamline and simplify the often stressful and complex practice of buying and selling investment properties.

Mobile Apps

Mobile browsing continues to be one of the largest consumer technology trends. Both buyers and sellers prefer to browse or list properties by accessing mobile-friendly websites on their smartphones. In 2016, there were over 25 billion app downloads on iOS platforms combined with over 90 billion app downloads on Android devices. Due to this staggering number of downloads, it’s evident that an ocean of potential customers are just waiting to be engaged through mobile apps.

Many firms are taking advantage of the mobile apps trend by developing real estate platforms that customers can download and carry with them wherever they go. These apps can manage a customer’s budget, help curate properties the customer may be interested in, and provide an instant connection between buyer and seller.  

Data

Without data, it is nearly impossible to fully understand your customer base. By collecting and interpreting data, you can create a personalized online customer experience. As stated previously, the majority of customers browse for properties using Google, whether directly through the search engine or on websites hosted by the data-collecting giant. Searches through smartphone apps are also popular. Artificially intelligent bots present in the background of every search will decide if the user is a buyer or a seller and will begin storing the types of properties and locations it determines the individual is interested in.

These algorithms can access your previous browsing history to ascertain your employment status and other personal details. The bots will generate content in the form of links to properties or real estate agents that may be relevant to your search. This creates a curated real estate experience that is unique to each customer.  

Virtual Tours

If you’ve ever considered purchasing property several states away, you’ll understand how challenging it can be to visit, survey, and research your potential medical, commercial, or office space. As the technology catches on, 3D virtual tours are set to be the next major real estate trend in the coming years. From the comfort of their home, prospective buyers can “tour” the property they’re interested in to see if it meets their expectations. Virtual tours are a faster option for viewing large commercial or industrial properties and allow customers to view a variety of listings in a single day.

As customers begin to expect virtual tours instead of in-person showings, it will fundamentally change the face of real estate. Agents will need to adapt their selling strategies to accommodate virtual tours, while firms will need to create the platforms. However, 3D tours have the potential to dramatically increase sales as customers feel more comfortable investing remotely. This can also increase the number of foreign investors looking for property in America.

At Lee and Associates, we are committed to providing a unique, personalized experience for each of our valued customers. You can view our online listings here, or get in touch with an agent directly by calling (321) 281-8500. We look forward to helping you find the perfect property!

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