For good reason, the future of the real estate sector is always a hot topic of discussion. A rental property investor’s portfolio can be made or broken by market changes. It is essential to keep up with what industry specialists say regarding the future of real estate. This article looks at several expert forecasts regarding the future of real estate. We will also explore how Batesville property managers and investors might profit from these innovations.
What the experts are saying
CEO of FortuneBuilder and a real estate investor, Than Merrill, recognizes the impact of technology on the real estate industry. According to Merrill, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate purchasers. He also believes that these technologies would empower buyers and sellers of real estate to work swifter than ever before.
Similarly, many more real estate investing traditions are expected to be disrupted by technology, according to market experts. In the near future, according to Dominique Burgauer, CEO of Archilogic, “almost every stage of a building’s lifecycle will be managed online. From construction and furnishing to sales and maintenance, the real estate industry will be online.” Burgauer says that as more Millennials become homebuyers, they will not “tolerate the industry as it is today.” The need for online services will only increase, forcing property investors, landlords, and other market participants to go online.
An alternative opinion from Adena Hefets, co-founder and CEO of Divvy Homes, points out that innovation has already altered real estate investing and will continue to do so in new and interesting ways. This innovation, according to Hefets, “will continue to dramatically improve the customer experience – as more real estate companies will apply the immense data they have collected from being in the market to their platforms. This data application will help us better understand the market, helping home buyers negotiate, obtain a mortgage, deal with title issues and escrow, and efficiently remove many headaches that previously plagued the home buying experience.”
Implications for Rental Property Owners
Experts on the real estate market agree that technology will have a significant impact on the future of investing in rental properties, so it is prudent for owners to pay attention. It is more crucial than ever to keep up with the latest technological advancements. You can keep ahead of major market shifts and maximize the potential of each property by utilizing cutting-edge technologies.
Furthermore, analyzing each new real estate technology as it becomes accessible and deciding the right plan of action can be time-consuming. Hire a good management company, such as Real Property Management Delta, to help you navigate the changes. We are part of a national company with the resources to research and adopt the technology rental property owners need to stay profitable and efficient. Contact us online today to learn more.
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