For a historically traditionalist industry like home buying, a new era of tech-related market dynamics may be met with skepticism by some home buyers and sellers. But unique buying opportunities and welcomed conveniences will become available for those willing to give new real estate technology companies chance
The property and real-estate technology industry in North America has grown by nearly 60% over the last two years and is now valued at over $7 billion. This market includes anything from mobile apps for listing or managing properties, to the growing industry of smart-buildings and even 3D printed homes that can be purchased.
These technologies may only seem relevant for the savviest of millennial investors and the most adventurous home buyers, but opportunities to take advantage of this multi-billion dollar industry exist for anyone willing to do a little investigating before their next purchase. And for the complex and often costly real estate buying process, exploring these new and growing avenues for improving the experience is certainly worthwhile.
Whether you’re in the market for your first home or your second investment property, realtors will always be a necessary component of the industry. There is no doubt however, that many of the more cumbersome and often frustrating aspects of the buying process are being taken over by technologies designed to streamline them. This will be an important trend to follow in 2019.