Real estate mobile apps are becoming quite popular among the masses as a means to search for the right property. Business enterprises that are professionally engaged in this field and looking to expand their business should understand the market and look out for the latest technological trends. Such trends will help to make smart decisions on the journey of business promotion and development. The real estate industry is huge and merging it with the digital transformation can bring remarkable benefits. The best step towards the same is to consult with a mobile app development company and integrate the latest technology trends.
Technology Trends in Real-Estate Mobile Apps
1. Business Intelligence with Big Data
The future of real estate mobile apps is hard to imagine without Big Data technology. A mobile app’s success can’t be separated from data that generally grow at an exponential rate. Business intelligence derived from Big Data is a popular trend in the property world. It can empower a real estate app serving the interaction process of property owners, agents, and customers. Business analysis algorithms are implemented to derive insights. With business intelligence software solutions, you can streamline your operations leveraging and managing all incoming data.
2. Virtual & Augmented Reality
Another remarkable real estate technology trend is virtual & augmented reality. With the introduction of these two technologies, real estate companies can increase their efficiency of physical spaces’ management. Buyers can use VR technology to view homes from different directions like spatial visualization without even visiting the property. This ultimately saves valuable time and money as well as offers a higher quality experience to the users. Brands hire augmented reality app developers to enhance their businesses and the customer base keeps growing. Some of the benefits of VR/AR in real estate are:
• Advanced remote property viewing with spatial visualization.
• Better efficiency of property marketing.
• Ease of accessibility via mobile applications.
• Customers can reduce the time of visiting and investigating a property in detail.
• Features to cover different stages of sales, buying, and even interior processes.
3. IoT for Smart Homes
Real estate integrated with the Internet of things is a perfect combination for sure. Being a technology for sensor-equipped devices, it gathers, analyzes, and makes use of digital information. IoT is becoming one of the real estate mobile app development trends now. The major constituents of IoT are automatic light control, smart thermostats, home security, and many more. Buyer demand for smart home controls and with hundreds of sensors connected the level of quality is supreme. These technologies can be integrated into marketing plans and can later benefit in terms of customer engagement. Eventually, AI algorithms for IoT devices can promote high-quality property management, like lighting, fire, and building security systems.
Real estate is the industry where blockchain technology is really in demand. For a number of reasons, crypto-currencies in real estate are beneficial. Thus, people can buy homes via bitcoins and similar currencies. The reason behind Blockchain solutions success is all due to the problems experienced in real estate transactions:
• The risk of fraud is always present as long as real estate property agreements are in paper form. Blockchain eliminates this risk by introducing smart contracts thus linking digital property ownership. These documents are impossible to alter once get encrypted.
• Lengthy paperwork is quite annoying for buyers, tenants, and agents. So, with blockchain, most of the paperwork is removed and converted into a fairly straightforward transaction.
• Conventionally, there are multiple middlemen involved in closing real estate deals including notaries, bankers, real estate brokers, and others. With the blockchain solution, one can avoid paying extra.
• A large amount of money is usually needed to start investing in real estate. But, now, everybody can buy a small part of ownership as per the size of crypto-currency.
• One has to pay a good sum to get the right property information. The blockchain technology can store all the relevant details on the property and the parties present in it. Not only the data is safe, but the records can also be updated at any time. Trust is all in the technology for managing data security as it originally added and accessible in real-time.
5. Chatbots for Customer Service
In real estate and most of industries, time is money, and for customer engagement proper support service is a necessity. AI-based chatbots are programmed to identify customers’ preferences to deliver leads. This ultimately enhances the sales and revenue of Real Estate Agencies. This software codes are facilitating better communication with prospects by promptly addressing issues that might come up during the sales process.
Frequently Asked Questions
1. What are the technological trends?
Technology trends have the potential to drive potential customers and deliver significant opportunities. Digital trends such as autonomous things, blockchain, digital twins, and smart spaces are rapidly approaching maturity.
2. How has technology affected the real estate industry?
The agent-buyer interactions have changed over time as well. Data is easily accessible, making clients more knowledgeable on the topic. Technology allows clients to significantly narrow their searches, helping them narrow their most important criteria.
3. What are the technology trends for 2020?
Top Trending Technologies
• Artificial Intelligence (AI)
• Machine Learning
• Internet of Things (IoT)
• Virtual Reality and Augmented Reality
The future of real estate mobile app technology will be driven by the latest technology trends. These above-discussed trends of 2020 are quite helpful to property owners, buyers, tenants, and most importantly to real estate agents. Thus to avail of the benefits of such trends for business success simply consult an experienced mobile app development company having all resources. Keep them in mind and try to integrate as many features of the latest technologies into real estate mobile app for long term business benefits.