During the recent pandemic, the world has dramatically shifted towards the online model and the real estate industry felt the effects of this trend too.

Many physical visits and open houses have been replaced with AR, VR, and 360 tours. Even the final documentation process has shifted online, helping the sector stay afloat during the peak pandemic.

Here are some of the major technologies and innovations that are shaping the future of real estate:

Best Real Estate Tech

●     Virtual Reality: The real estate industry has moved on from high-quality and 360 photos. The new technological trend is 360, AR, and VR video tours.

●     AI, ML, and Property Value Estimation: Property value is determined using predictive methods, machine algorithms, and big data.

●     Blockchain: Blockchain is used to sign agreements that link buyers and sellers together to complete deals.

●     Mobile Apps: There are hundreds of mobile apps on the app store that directly connect you with potential buyers or sellers.

Are Real Estate Agents Still Necessary?

Some people have questioned if real estate agents are becoming redundant in this new world. Why should anyone hire a realtor when they can look at houses online or directly communicate with an app?

However advanced technology has made real estate agents and brokers more important and here is why:

AI Can’t Negotiate

While these technologies are great at predicting prices and trends, they simply cannot negotiate. Being able to offer the washer and dryer to help a young couple beginning home ownership is an emotion technology cannot see.

The ideal and maybe the only way for a buyer to win a negotiation or avoid overpaying for a house is to hire an expert realtor with extensive knowledge about the local market.

Time-Consuming

The most advanced real estate tech is often more complex. Therefore, it can be more of a headache and less relief. You will need an expert to accompany you throughout your property-buying or selling journey. Agents who use these technologies daily. So, nobody can understand tech and help you better than these agents.

Final Verdict

In today’s world, realtors must keep up with technological demands to stay in the competition. However, there is still a huge need for excellent service levels and empathy.

A machine cannot provide a human approach or understanding of the local area. So, you can’t write off real estate agents from your books for years to come.

If you also want to add human touch while dealing in real estate through modern tech, Team Martinez can provide you with the best human-technology combo.