Real estate industry is becoming very much admiring industry with the increase in the population and increase in the disposable income. In the ancient time, the industry of real estate is not very much innovated and developed but in the recent trend the market of real estate is very much spellbinding with the development of numerous technologies with the various applications. With the introduction of technology in this industry the realtors are established their business standards and antiquated in numerous ways. According to the report analysis, ‘REAL ESTATE INDUSTRY RESEARCH REPORT’ states that with the existence of numerous technologies such as cloud computing, block chain, virtual reality, augmented reality and others will lead the market growth more significantly in the forecasted period. Companies like Redfin, Trulia, Zillow and Home snap have been changing the manner of seller and buyers recognizing the market. Introduction of various technologies in this sector will result the elimination of the traditional way of doing the business of real estate.
Cloud computing is the latest technology in the industry of real estate as in real estate business this technology has an ability to improve the efficiency of better data management and share the distinctive individual identities for users with which consumers feel secure by sharing important information and with wide-ranging impact takes on the closing process. PEXA is the major leading player of the cloud computing technology and it allows an online property exchange network. Additionally, this technology have efficient impact on the real estate market as it is less time consuming and provide effective services with very much reasonable cost. Not only has this, virtual reality is another technology by which the buyers can enhance their online seeing experience of property in three dimensions. It also ensure the effective communication between the buyer and seller whereas roomy provide the ability to every individual to contemplating and adorning the virtual place. Moreover, the virtual reality totally eliminate the travel for visiting at any for buying and it will creating a raise in the market of real estate and steer the industry sales up to the roof. Additionally, there is one more app which is gathering so much attention in the recent trend which is known as Blockchain. With the introduction of blockchain the transaction between the buyer and the seller can be done with a big of cryptocurrencies. As the in the real estate industry the transactions plays a significant role and this technology leads to transparency and efficiency innovations which are really matter to real estate buyers, renter and sellers. In 2016 a company was started, Shelter Zoom which solve many problems related to transactions and it is very much prevailing in this market as this technology attacking the problems like no one other yet. According to the report analysis, ‘REAL ESTATE INDUSTRY RESEARCH AND MARKET REPORTS’ suggests that with all the technologies in the market of real estate, the market is becoming more competitive and profitable for the investors and businessmen.
In the developed and developing countries the usage of technologies in this industry is very much prevailing and make the market very much attractive. Whereas, the virtual and blockchain technology will cater a huge market share in the North America and the technology of Cloud computing is very much prominent in the Europe. The Asia-Pacific region is doing so many projects and developments in each technology for acquiring the huge share in the market of real estate. Therefore, it is expected that in the coming years the real estate industry will grow more significantly with the more development in the applications of these technologies and furthermore many of the companies are blending up with the other IT companies for the introduction of new technologies.
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Ankur Gupta, Head Marketing & Communications