Technology in the real estate industry is essential. People who work in real estate understand the renewed need for new technologies to save time and effort with such a vibrant and fast-based sector.
In the past few years, a leap occurred in the technology in the real estate sector which facilitated the way real estate agencies, realtors, or even normal people who are willing to buy and sell properties.
The best technology in the real estate sector
What are real estate technology trends and how did they evolve? What is the latest technology used in the real estate industry? To answer these questions read this article about real estate technology.
Digital platforms
The widespread of buying and selling platforms, as modern technology in real estate, made it easy to reach properties and specify buying and selling options for big numbers of people. These platforms, for example, Bayut.sa, can be used to reach huge numbers of interested buyers while landlords can view their properties easily which will result in more activity in the market of real estate.
Different types of Digital platforms
- Real estate websites: We are proud to be one of the best real estate websites Bayut.sa in the middle east region.
- Social media platforms like Facebook, Twitter, Instagram, and LinkedIn.
- Knowledge platforms like StackOverflow, Quora, and Yahoo! Answers.
- Media sharing platforms like YouTube, Spotify, and Vimeo.
- Service-oriented platforms like Uber, and GrubHub.
Blockchain
The use of blockchain as technology in the real estate industry has become very popular in many countries around the world including Saudi Arabia. This technology used in real estate includes the use of digital ledgers which are used for cryptography to verify different transactions and cryptocurrency as the medium of exchange.
Blockchain, also, includes the use of the internet to conclude and sign contracts. This Technology permits huge changes in Islamic real estate finance since it’s a very flexible technology and also capable of digital identification to manage financial assets and transactions.
Virtual tours
The very first step when you want to buy or rent a new house is to see it in real life. This might be unavailable for many especially those who live overseas. However, this technology in real estate will make your dream real estate closer than ever. This technology will become even more popular in real estate technology trends 2021 or in the upcoming years.
ROI (Return of Investment Calculation)
The real estate investor or realtor must know how to invest his/her time skillfully that’s why he/she must follow up with each new technology in real estate to achieve their goal.
With the huge data available, learning how to deal with it is a must and, also, learn how to calculate the return of investment to guarantee the profits. E.g. the real estate agent will be able to predict the ability to sell a property, how much the client is willing to pay, and the percentage of the real estate agent commission.
Smart cities
Big cities suffer traffic, pollution, and high crime rates but with technology and digital systems, big cities were able to overcome similar obstacles like NEOM the Saudi city’s real application in the future of real estate technology and techniques.
Smart cities are built based on sensors, automatic and electronic methods to gather data. This data is used to perfectly manage resources, services, and assets to tackle big cities issues around the world including Riyadh, Jeddah, Mecca, and Madina in the Kingdom of Saudi Arabia.
Smart cities technologies
- Smart energy: which involves using solar energy, gas energy along with devices for energy efficiency.
- Transportation with multi-model transportation and facilities, smart parking, and smart traffic lights.
- Intelligent data: when huge is collected and analyzed throughout portals to come up with helpful solutions.
- Smart infrastructure: an infrastructure that mainly covers utilities, transportation, public order, etc.
Huge data and personalization
Personalization played a huge role in advertising and marketing in different sectors but still, it isn’t fully used in real estate. Real estate agents personalize their clients’ needs with a number of properties like the number of rooms, location, etc.
This huge data will be able to make smarter recommendations to clients. Real estate platforms will be able to buy properties, and agents will be able to predict client needs even if he didn’t declare their needs.
I hope you liked this article about technology in real estate. If you’d like to read more articles about real estate and different sectors and industries please check Bayut ksa blog to read more articles like The 3D technology that could change the face of the real estate industry, Predictions 2021, What to look forward to this year? and Real Estate Investing In Riyadh Benefits.
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