More people than ever in the past now use mobile applications and websites in looking for homes to rent or buy. Even though this may not be the most recent development in the real estate sector, many technological innovations directly or indirectly have impacts in the housing industry.
To make a case for an indirect to direct impact, consider how financial technology has generally improved on the smoothness of services delivery, making it possible for even remote jobs to serve the real estate market.
Follow through a brief discussion on the 3 most recent ways that different technologies are changing how we build and own our houses;
1) Virtual Reality (VR) and Augmented Reality (AR)
A step in innovation from the listing apps and websites, virtual and augmented realities in the housing sector will continue to play big in the housing industry.
What this technology affords us is the ability for the realtor to give the visual experience in more detailed view with 3D virtual tours, showing more detail than a regular picture. Techsuite has the capability making this kind apps and websites.
So while in VR you have the view of the home with the opportunity to explore the virtual environment, with AR, there is the real world interfacing with the luxury of additional human or a software agent.
VR and AR can give audio visual information that helps the real estate persons and customers to gain. This essentially allows anyone to access houses in ways that was not possible before without an extra cost of a physical visit to the property address.
2) Financial and Investment Technologies Innovation
The flexibilities with accessing financing and management service keeps improving in developed worlds, making it much easier to have investments happen at faster rates. Property developers are able to do more with funding models like Crowdfunding and peer to peer model.
An adaptation of the Crouwdfunding model with incentives makes it work like a non traditional investment instrument for funders who may be happy to take more profits than the banks would be willing to give if their money were in savings.
Crowdfunding is sometimes called crowd sourcing which are online investment opportunities that can help prospective home owners to have alternatives to costlier mortgages.
These options could be accessed easier than before and are now available if you look in the right places. A combination of financial investment innovations effectively increase the number of home owners and keep realtors and builders happy as well.
3) Internet of Things (IoT)
The idea of Internet of things is really broad and so it is already a determining factor in how homes are built.
People generally go for the best technologies that will give them some levels of assurance of security, which is one promise of the IoT. Communication and personal aid needs at home will further become popular requirements that realtors must provide.
Growing section of modern home users will demand that homes be made with features so that they will be IoT ready, which means, it will be able to help in satisfying the utility of IoT applications. It will be crucial for realtors to guarantee that users will experience living in a modern home with IoT features.