Top 5 Real Estate Technology Trends for 2023
2023 promises to be an exiting year in real estate. Technology will play a major role. The willingness adopting to tech tools is therefore key.
The Top 5 Real Estate Technology Trends for 2023 comprise:
- Virtual Reality (VR) and Augmented Reality (AR)
- Artificial Intelligence (AI)
- Process Improvement
- Fractional Investment
- The Metaverse
Virtual Reality (VR) and Augmented Reality (AR)
Accelerated by the pandemic, virtual 3D property tours/ walkthroughs function as the best alternative to live showing.
Expected to continue expanding, especially among investors.
Artificial Intelligence (AI)
Property investors being able finding and analyzing deals at a rate and speed previously unimaginable.
An emerging trend is the use of quantum computing AI.
Enhanced efficiency being the most important benefit of the recent boom of technology in real estate automating many tedious day-to-day responsibilities, and therefore being able to complete tasks faster and better than ever before.
A further surge in comprehensive platforms is expected as a lot of CRM applications currently cover different aspects of real estate.
Another potential lies in the demand of streamlining processes.
Fractional investment will grow due to PropTech platforms that allow investors investing in parts of real estate properties with smaller investments.
The metaverse being a possibility diversifying one’s portfolio and buying assets in a virtual world is still a relatively new concept. Investors will most likely continue to proceed cautiously.
Nevertheless, the global metaverse real estate market was valued at $821.9 million in 2021, with a projected increase to $5.95 billion by 2028.
How we can help
Do you face the same challenges?
Send me a direct message (DM) to discuss the options.
Source: Forbes Technology Council, November 2022