Tech in Real Estate: Virtual Tours, Drones, & More
Technology is changing the world in ways that were once unimaginable, and the real estate industry is no exception. From online home searches to virtual reality tours and drones, technology is revolutionizing the way we buy and sell homes. In this blog, we will discuss the impact of technology on real estate and its potential to transform the industry in the coming years.
One of the most significant ways that technology is impacting the real estate industry is through online home searches. According to the National Association of Realtors (NAR), 99% of millennials and 90% of baby boomers searched for homes online in 2020. Homebuyers can easily search for homes on popular real estate websites, such as Zillow and Redfin, and filter their search based on their preferences, such as location, price, and number of bedrooms.
Another way that technology is changing the real estate industry is through virtual reality tours. With virtual reality, potential homebuyers can now “walk through” a home without ever leaving their own living room. This technology has become increasingly popular in the wake of the COVID-19 pandemic, as it allows potential homebuyers to view homes safely from their own homes. Another report by the NAR revealed that 3% of real estate agents used virtual reality technology in 2020, up from 1% in 2018, proving VR technology is becoming more widespread in the real estate industry.
Technology is also making it easier for real estate agents to connect with potential buyers and sellers. Real estate agents can now use social media to reach a wider audience and advertise their services. Real estate agents can also use technology to manage their client relationships, with customer relationship management (CRM) software allowing them to keep track of their clients’ needs and preferences.
Drones are an exciting development in real estate tech that agents are using more in the field. With drones, real estate agents can capture stunning aerial footage of properties that would be impossible to achieve with traditional photography. This technology has become increasingly popular in recent years, with many real estate pros now adding a line to their budget for a drone.
Tech is having a huge impact on the real estate industry, and this trend is expected to continue in future years. Online home searches, virtual reality tours, social media, and drone technology are all transforming the way we buy and sell homes. While technology presents some challenges, it also offers many opportunities for the real estate industry to become more efficient and effective. As technology continues to evolves expect the real estate industry to follow.