High tech real estate can change the real estate industry. With millennials being more accustomed to smartphones and internet purchases than any previous generation (Baby Boomers, Generation X), this demographic is now responsible for 45 percent of all homebuyer offers in the United States, and all these actions come with a price, the incursion of disruptive innovations.
To start, applying for mortgages in a high tech real estate industry is getting increasingly easy and fast, thanks to a diverse number of companies that are entering the market, one of the most notorious are called Lenda. With a presence in the industry since 2014, it is the fastest lender in the market, due to the fact that their application process only takes minutes to be finished and the loans can be approved within two weeks.
Automation is a crucial key in the high tech real estate operation, making tedious tasks like employment and income verification more seamless. Another extraordinary feature available on Lenda’s platform is that customers can get a full statement from their preferred bank, just by logging into their accounts.
Virtual Reality (VR) is another big winner between these trends, being used as a powerful tool for home tours, simulations of spaces and Q&As. Nearly 78 percent of adults want to use VR before visiting a home, in fact, Sotheby’s International Realty is offering 3D and VR tours, all thanks to intricate camera placements in selected houses.
The age of social media is boosting all mentioned technologies and innovations, several real estate agents are using platforms like Facebook to discuss in real-time with their viewers, answering questions and hosting open house events to give an example. One of the greatest benefits of this dynamic is that every video posted on Facebook Live stays there for you to re-watch it indefinitely.
Among other advancements lands the voice command field, where now-famous artifacts like Amazon’s Alexa, Google Home, and Apple’s Siri interact freely with human beings, using the information found on the web for the enrichment of relationships between man and machine. Right now, various companies are working on intelligent personal assistants that can deliver precise information about the real estate market. Just like chatbots, these tools can answer questions at the moment and are able to display lists of available properties for you.