Technology for Real Estate Agents and Investors
Posted: 28th August 2018 11:52
Buying, selling, and investing in property has become easier and more accessible. The technology assisting real estate agents and investors to conduct business are smartphones and tablets. Using modern technology in both the residential and commercial real estate industry is helping to grow this trillion dollar industry.
Mobile technology is the largest purveyor for the real estate market today with the help of the following systems:
- Social media
- IT systems
- Artificial Intelligence ('AI')
1. Land Trust
A land trust is an agreement that privately protects the owner of a specific property. Buying real estate through a land trust, the owner's name and the price are not made public. Even if there were liens or judgments against the owner, these entities could not touch the land trust property. With a land trust, the owner skirts certain taxes like the transfer fee. Also, there are no long drawn-out probate procedures. The technology that aids in a land trust involves software data, analytics data, digital forms, and other types of applications that are user-friendly.
Artifical intelligence or machine learning technology gives investors a better lead on issues that involve buying, selling, or rental investments. AI mobile technology gives them a more succinct property portfolio for personalized and management investment goals around the world. AI is widely used within the real estate industry and is helping realtors, property managers, assessors, appraisers, real estate agents, and brokers to remain competitive.
3. Automated Cloud Software
Real estate investors require information to be available at a moments notice. Modern data technology provides revenue and expense information that is needed to analyze a deal. The fast automated software today allows documents to be stored securely in the cloud. Automated cloud software programs inform investors when they need to know how much they should spend on an investment property, whether to invest in a reconstruction project or which of their renters are behind in their rent. Cloud software is available in varied mobile devices that can be stored in the cloud where it remains available as needed.
Real Estate Agents
1. Listings Online
Internet websites using satellite technology allows real estate agents to see property photos in real time, exact descriptions of the properties, purchase history, neighborhood ratings, tax information, and more. Agents carry mobile devices with apps that give agents instant information when they are on the move.
2. 3-D Real Estate
Real estate agents now have 3-D virtual software to allow buyers and sellers to take a tour on mobile devices. There are several real estate agencies that use robotic virtual machines to give potential sellers, buyers, or renters the ability to see their property through a robotic screen environment. Now, people interested in a particular property can take a virtual tour of it before they physically see it. 3-D virtual tour technology could allow people to purchase said property without walking around inside of the building.
3. Augmented Reality
Real estate agents are using more augmented apps in their industry and it is generating lots of sales. Augmented reality places the buyer in the actual space and will virtually decorate it in the amenities that the buyer wants to see. Agents and brokers are using augmented reality tools to show a computer-generated image of the potential of an unfinished property. [Link:
Gone are the days when a real estate agent lands a sale and says, let's go back to my office and sign the papers. Now, if a potential buyer, seller, or renter is ready to take the property you are showing, just use an e-signing app service. Real estate transactions keep agents organized and it saves time for all parties involved in a transaction. With an e-signing app, agents are more responsive to their clients because there is less physical paperwork involved.
The Bottom Line
The driving force behind industries across the board is technology, including the real estate market. In the real estate industry technology has been a powerful tool benefiting the agents, investors, and customers.
Technology is not replacing the human contact part of the industry. Agents and investors will continue to perform the essential functions of advising, counseling and providing key strategic investments to their clients. As a matter-of-fact, technology is freeing agents and investors to spend more one-on-one time with their clients.