Over the last few decades, the real estate industry has seen little change due to technological advancement.
There have been a few developments; the rise of property listing websites and the use of social media to advertise housing have provided easier access to property information. Customer Relationship Management (CRM) systems have improved the experience you might expect from a real estate agency and drones (unmanned aerial vehicles) are now used regularly to enhance property photography.
Within a few years however, our experience of buying and selling houses may alter beyond recognition. Innovative young companies like Realy are on the verge of bringing new technologies to the market that will change how the real estate process works – a process that has remained the same for generations.
Check out our predictions for the top four new technologies to watch out for. These advancements should take some of the hassle out of selling houses, streamlining and simplifying what is often an arduous process for both buyer and seller. Technology in real estate is on the rise…
Artificial Intelligence (AI)
You know the exact criteria your perfect home needs to meet – so why is it taking so long to track it down? We’ve all kissed far too many frogs en-route to finding our property Prince.
AI promises to change this. Looking for a north-facing house with four bedrooms, a sizeable garden and a 30-minute maximum commute to Sydney by public transport?
Fed this information, an AI system would make child’s play of locating each and every suitable property on (or off) the market
Fed this information, an AI system would make child’s play of locating each and every suitable property on (or off) the market in your chosen area – no more sifting through endless property sites taking copious notes or relying on agents pushing their own agendas.
Virtual Reality (VR)
Virtual Reality has the potential to work for both buyers and sellers.
If you’re looking for a new property, you won’t have to jostle through crowded open-houses or dashing between multiple weekend viewings, arguing with your partner as you realize you’re lost and late again. Simply slip on a VR headset, sit back on your own sofa and tour any property you find appealing at a time that suits you – pausing to discuss finer points or sip a cocktail perhaps?
If you’re a seller, you’ll no longer have to face a mad scramble to get your house in shape for a last-minute viewing, or make yourself scarce once again while your agent shows round the fifth couple that week. One visit from a specialist company will be all it takes to create the VR experience that will bring your property instantly to multiple potential buyers.
Static images have always been a problematic way of showing a home to its full potential. VR is an immersive experience that allows a buyer to really imagine themselves living in a space.
Augmented Reality (AR)
Augmented Reality may sound like Sci-Fi, but it’s already in existence and helping revolutionize the way we view properties.
Taking Virtual Reality a step further, AR provides the ability to understand the history of a home and to take a journey through its previous transformations and incarnations. It even offers the function of viewing details like the cost of fixtures and fittings, in real time, as you wander through each room.
At Realy, we’re already working on the services that will make this amazing technological future a reality.
AR also allows you to imagine the future of a home – creating different visions of a property and estimating the likely cost of each transformation. You can try out different decorating styles to get a real sense of what potential is locked within a home – all without cost or commitment.
Many future technological experiences within the real estate industry will be made possible by data that is currently stored and will be made available; including Australian address, development application and house sale data.
At Realy, we’re already working on the services that will make this amazing technological future a reality. We can currently power an augmented reality app for house viewings and have plenty more up our sleeves – watch this space!