Top 6 Ground-Breaking Real Estate Tech Trends to Look Out in 2020
Published: 2020-06-18 09:46:21

Every technological innovation creates ripples across different industries.  From healthcare, financial services, communications, retail, transportation, manufacturing to entertainment, technology has upended nearly every major industry and real estate is no exception.

Although, the real estate industry doesn't adopt new trends so quickly. However, the popularity of Real Estate & Housing Software Development has brought a revolutionary change in this niche. And, it has been noticed that the real estate software solutions and technology integration are already making their way into this sphere.

In this blog, we will learn about some technologies that have gained a lot of buzz in the software development industry and hugely impacting this sector. Let’s take a look at these digital trends and their impact on the industry.

**1. Big Data Analytics - A Game Changer**

You already know that big data analytics is the hottest trend that has been gaining momentum in completely different sectors including the Real Estate. These days, this digital trend has been widely used by many real estate professionals to make data-driven decisions and target their potential buyers.

The real estate sector comprises real property objects, owners, companies, renters, agents, and is tightly connected with risks. Hence, [Big data analytics](https://www.a3logics.com/big-data-services) Big data analytics is inevitable for successful business development and revenue generation of any estate business. 

**Let’s shed some light on a few areas where Big data can be of great help.**

With big data processing, it becomes easy for real estate agents and customers to find an appropriate building with indicated parameters.

a huge amount of data can be analyzed and processed in a much faster way to get deeper insights on pricing, home-value trends, and potential value in certain neighborhoods. Companies can compile and collect data on buying and selling trends in a specific area, provide demographic information, traffic details, consumer survey results, and much more.    

Undoubtedly, big data usage in the real estate sector makes the workflow faster and more efficient

**2. A Shift to the Cloud**

Like many other industries, the Real estate sector is also making its way into the cloud. As per the statistics, 80% of the top real estate performers are using some form of cloud. Consistent workflows, enhanced data security, low operational costs, and improved business continuity are some of the reasons why these companies are slowly embracing the cloud trend. 

With [Cloud property management software solutions](https://www.a3logics.com/cloud-computing-services) Cloud property management software solutions, real estate professionals can have quick and hassle-free access to the property information and financial data. The property owners and tenants can just log in to the system and check whatever they want from any location, using any device at any hour to be always productive. 

**3. Real Estate AI, Machine Learning and Predictive analytics**

These days, most of the entrepreneurs are using Artificial intelligence and predictive analytics to up their game and gain competitive advantages over the real estate market players. Probably those who do not invest in analytics would not be able to survive their business successfully in 2021.

One of the most significant features of AI is to predict the future. Whether you want to anticipate rent and sale price fluctuations or identify the perfect timing for selling a property, using AI can offer an unprecedented competitive advantage to Real Estate Agents. 

Artificial Intelligence can help analyze your potential customers, regulators, business leaders and competitors, staff, to run a business successfully. And, helps you gain a deep understanding of what data is at disposal, what can be done with it, what risks it poses, and how to efficiently manage it. 

Although the information is of much value, however, too abundant to collect it, process and turn into insights. It will take so much time to use modern real estate predictive analytics tools to detect problems, prospects, and solutions and to process real-time data. With AI, it is easy to analyze and interpret the collected data and put it to good use.
 
**4. Blockchain in Real Estate**

The list of modern digital trends would be incomplete without mentioning Blockchain technology. 
As we are aware that Commercial Real Estate business involves many stakeholders. Hence, it is a much more complicated process and seems a risky affair.  

The emergence of blockchain has hugely impacted the real estate industry in so many ways. The transactions made using the Blockchain do not require any middlemen or bank verification. Storing real estate document information on the Blockchain will ensure their credibility and originality. It also eliminates many  inefficiencies in the process, drives transparency and proves a cost-effective deal for CRE companies and brings significant value to the industry.

**5. Augmented Reality**
 
Augmented Reality is another ground-breaking technology that gives a virtual view of the property with real-world content. Virtual reality and augmented reality is making the online search and home buying experience even more exciting and accessible. Through virtual tours, the technology enables estates to showcase what a property would look like. According to a survey by the National Association of Realtors, nearly half of all potential homebuyers search for properties on the internet first. 

Several commercial real estate software products that can scan buildings and watch the available spaces inside, getting all essential information on the property. Though the apps of AR have not come into wide usage yet, many experts believe Augmented Reality will surely influence the future of the real estate industry. 

**Also Read:** [How to Make Your Business a Step Ahead with AI Augmented Analytics?](https://www.a3logics.com/blog/ai-augmented-analytics-how-to-make-your-business-a-step-ahead)

**6. Drones**

Drones offer budget-friendly and easy aerial photography that would have been a very costly affair just a few years ago. They are mostly useful for displaying bigger properties, giving a real feel for the size of a place. With drones, multi-perspective site visits are now possible. 

Drones can also be used to provide a tour of the area. For instance, if someone is planning to move to a new town, and searching it online. Those real estate property owners who have used Drones can help him get a feel for the place even before visiting. It can also be used to spot potential risks or maintenance problems, which could lower the price of a property or be used in negotiations. 

At the most, drones may be used to tour a property remotely. Right now, it's difficult to navigate a drone through a small, enclosed space like a typical home. While if we talk about large commercial or industrial sites, there is far greater potential.

**Also Read:** [7 Reasons Why Your Business Needs On-Demand Mobile Application](https://www.a3logics.com/blog/7-reasons-why-your-business-needs-on-demand-mobile-application)

**The Essence !!!**

Evolving technical changes and volatile markets are some of the major challenges faced by the real estate industry in the current digital era.

A3logics, with its expertise in mobile app development coupled with in-depth knowledge of the domain, assists real estate and construction companies across all phases in the value chain- from pre-construction planning to post-construction sales.

Connect with us today to learn how our mobile app development services can maximize your ROI.