The unfold of COVID-19 pressured many actual property brokers to look to know-how as a option to keep protected and sustain with the shopping for and promoting demand. Many of those traits that began in 2020 will proceed into the brand new yr. The proptech trade has grown considerably up to now few years, and 2021 shall be no completely different.
Together with an elevated deal with brokers’ security and safety, proptech traits will seemingly embody a better reliance on drones (and improved know-how), extra automation, and development in AI. Here’s what actual property brokers can search for by way of property know-how traits in 2021.
Proptech used for security
Even earlier than the pandemic introduced on new security issues, safety has at all times been top-of-mind for brokers. A Nationwide Affiliation of Realtors (NAR) 2017 Member Security Survey discovered that 44% of feminine brokers and one in 4 male brokers had skilled a scenario up to now yr that made them concern for his or her security or the protection of their private data. Applied sciences akin to wearables, panic buttons, and background id checkers are all used to maintain brokers protected.
Along with safety issues, the brand new problem is retaining brokers and clients protected from spreading COVID-19. Know-how shall be one resolution to this downside.
We’re prone to see extra digital actuality excursions, in addition to enhancements in these applied sciences. Platforms akin to EyeSpy360 already permit brokers to create completely digital showings. As we transfer away from open homes, sensible lock programs akin to Sentrilock and Prempoint imply brokers don’t want to satisfy face-to-face with purchasers. In 2021, brokers will seemingly depend on these instruments extra, so probably extra gamers will enter the market, and we’ll most likely see new, upgraded options from current instruments.
IoT shall be instrumental on this development as effectively. Beacon know-how, for instance, can permit potential patrons to view a property earlier than the agent arrives. Beacons are Bluetooth units positioned round a property to transmit data. When a shopper enters the beacon vary, their telephone receives the sign, and the viewers will get a hyperlink to start viewing. Whereas as soon as this know-how was a nice-to-have, it could change into extra widespread with social distancing rules.
Extra drone use
Drone use has grown in reputation over the previous few years. Surveys discovered 83% of house sellers (soldbyairdotcom) want an agent who makes use of drones. It’s tough to seize pictures of enormous properties with out drone use, and even small properties typically present higher when utilizing aerial footage. Drone use will seemingly develop in 2021 because of shopper demand in addition to extra capabilities akin to 3D mapping. The industrial drone market is predicted to see exponential development in 2021, with actual property brokers profiting from this upgraded know-how.
Automation has lengthy been a development in the actual property world, however 2021 shall be an ideal time to automate efforts. Due to social distancing pointers, brokers scrambled to seek out methods to automate processes. Many of those processes, akin to digitizing paperwork, e-signatures, and sensible documentation, will change into the norm.
Whereas elements of actual property processes should be executed in particular person, different procedures, akin to funds, don’t. Some in the actual property world may additionally flip to the blockchain to automate paperwork. This might then present a heightened degree of safety for patrons and sellers.
Different automation steps akin to social media advertising, calendar automation, and CRMs will proceed within the new yr as brokers discover a higher option to work.
Subsequent yr we’re prone to see many AI applied sciences used for proptech development watching. Utilizing historic traits and present knowledge, brokers can discover out what a home is value — and maybe extra importantly, what will probably be value in years to come back. Consumers and sellers will depend on brokers to offer correct calculations of a property’s worth, in addition to neighborhood traits and potential modifications.
AI and machine studying are already altering property portals by matching patrons’ search standards with related properties extra precisely. This upgraded know-how simplifies the search course of for patrons by delivering extra appropriate outcomes.
Specializing in proptech
Like many different industries, actual property is seeing technological upgrades to satisfy with COVID-19 rules. 2021 shall be an fascinating yr for proptech, particularly since a digital transformation in the actual property trade has been within the works for the previous few years.
Actual property brokers that make the most of upgraded applied sciences will undoubtedly acquire a aggressive edge available in the market. This edge is helpful now, provided that patrons and sellers are, at occasions, forging brokers in favor of on-line shopping for and promoting choices. Nevertheless, just like the earlier years, the actual property trade will seemingly proceed to see a digital transformation as new tech gamers enter the market, providing higher methods of working.
Picture Credit score: andrea piacquadio; pexels