Along with a range of other industries, real estate has been enormously disrupted by technology during the last few years. The cutting-edge technologies, from 3D printing to Virtual Reality innovation, are already changing the way consumers look for, buy and sell, and invest in real estate. In this article, we’ve rounded up the top 4 real estate tech trends to watch in 2022 and beyond.
3D Printing, AI, Virtual Reality Innovation and Other 2022 Tech Trends in Real Estate
1. 3D printing, IoT and drones will become customary
3D printed homes are becoming the new (and welcome) real estate reality. 3D printing allows building homes at a lower price and way faster — it isn’t affected by external factors such as bad weather or limited skillset. Plus, it gives people the freedom to design their own space.
Another technology that will go on revolutionizing the real estate industry in the next few years is the Internet of Things (IoT), as the demand for smart homes will only grow. Finally, drones are expected to be widely used in the industry. Fair enough, as they enable quick and low-cost home inspections that can save homebuyers both time and money.
2. Virtual Reality innovation will keep on disrupting the real estate
The benefits of VR in real estate are enormous. Thanks to Virtual Reality technology, companies can market the property before the construction has been completed. Virtual Reality innovation in real estate enables businesses to effectively present the interior and exterior of future or existing homes or commercial properties. What is more, it allows customers to explore spaces from anywhere and at any time. VR future predictions are even brighter: this exciting trend will only grow.
3. The use of AI and big data will rise
Together with Virtual Reality innovation, 2022 will be marked by further integration of artificial intelligence (AI) and big data in real estate. And while the previous couple of years were particularly successful for artificial intelligence (AI), with the rapid development of machine learning, 2022 is going to be even better. Artificial intelligence will be used to identify the most suitable homes on the market to best meet customers’ needs and preferences. What is more, AI chatbots will become increasingly valuable in real estate. They can communicate with potential clients outside of regular business hours, helping website visitors find the best homes to match their needs and budget, instantly answering questions, and capturing hot leads in a more interactive and streamlined way.
Market leaders already actively use big data and predictive analytics across various industries. For instance, Netflix and Amazon utilize big data to provide consumers with relevant content or product recommendations. Likewise, big data and predictive analytics will disrupt real estate.
4. Real estate will further embrace blockchain technology
No matter the industry, buyers and sellers who make costly purchases always search for more convenient and secure ways to carry out transactions. This led to inevitable blockchain integration into the real estate industry, and this trend is likely to get stronger in the next few years. Blockchain enables transactions to be made securely, transparently, and without third parties. In addition, blockchain technology allows real estate agents (and other professionals engaged in selling and buying properties) to create smart contracts and securely store them. Finally, blockchain considerably streamlines fractional ownership of real estate properties.
All in all, with the extensive use of AI, big data, 3D printing, IoT, blockchain technology, and Virtual Reality innovation, 2022 looks very exciting for real estate. Technology will keep on enhancing customer experiences and help drive incredible business growth.
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