What the experts are saying
Real estate investor and CEO of FortuneBuilder, Than Merrill, notes the impact of technology on the real estate market. Merrill says, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate consumers. He is also convinced that these innovations will assist real estate buyers and sellers to work more rapidly than ever before.
Similarly, many more real estate investing traditions are expected to be disrupted by technology, according to other market specialists. Dominique Burgauer, CEO of Archilogic, predicts that in the not-too-distant future, “almost every stage of a building’s lifecycle will be managed online. From construction and furnishing to sales and maintenance, the real estate industry will be online.” Burgauer says that as more Millennials buy homes, they will not “tolerate the industry as it is today.” The demand for online services will only expand in the next years, forcing property investors, landlords, and other market participants to go online.
Looking at it another way, Adena Hefets, co-founder and CEO of Divvy Homes, observes that innovation has already pushed real estate investing in new and interesting areas, and will continue to do so. According to Hefets, this invention “will continue to dramatically improve the customer experience – as more real estate companies will apply the immense data they have collected from being in the market to their platforms. This data application will help us better understand the market, helping home buyers negotiate, obtain a mortgage, deal with title issues and escrow, and efficiently remove many headaches that previously plagued the home buying experience.”
Implications for Rental Property Owners
Since real estate experts predict that technology will have a huge effect on the future of rental property investing, it seems smart for owners to pay strict attention. It’s more vital than ever to keep up with the latest technological advances. You can keep ahead of major market shifts and maximize the potential of each property by utilizing cutting-edge technologies.
Furthermore, analyzing each new real estate technology as it becomes accessible and deciding the right plan of action can be time-consuming. The best option for you is to employ a reputable management firm such as Real Property Management Greenway to help you through the changes. We are part of a national company with the resources to research and adopt the technology rental property owners need to stay profitable and efficient. Contact us online today to learn more.