3 Technology Trends for Real Estate Investors this 2024

As technology continues to reshape industries, the real estate sector is no exception. In this article, let's talk about some insights and benefits on how adopting certain trends in real estate technology can significantly impact your real estate investments. 

VR tours began to gain ground during the pandemic, but post-pandemic, this technology continues to boost numbers in property listings. In a study conducted by Matterport, listings that offer a 3D tour on their website sell 31% faster and up to 9% higher than those without a VR tour. 

This is supported by the 2023 NAR Home Buyer and Seller Generational Trends report which says that buyers prioritize specific features when viewing listings. Key elements such as photos, comprehensive information, floor plans, contact details for real estate agents, and virtual tours are highly valued. 

Here are more benefits of embracing VR tours for real estate investors.

Enhanced Property Exploration: VR tours offer potential buyers or tenants an immersive property exploration experience through virtual reality tours. This enables them to virtually walk through properties, gaining a realistic sense of space and layout. 

Convenience of Remote Viewing: Real estate investors can save time and resources by allowing investors and potential tenants to explore properties remotely. This is particularly beneficial for those who may not have the opportunity to visit properties in person.

Effective Marketing Tool: Property sellers can utilize VR tours for standout online property listings, attracting a wider audience and potentially expediting the sales or rental process.

More and more real estate investors are beginning to embrace blockchain technology which is revolutionizing the way transactions are being undertaken. Transparency, security, and efficiency are just some of its touted benefits. 

But first, what is blockchain technology? 

Blockchain has been defined as a tamper-proof, sequential ledger based on cryptographic principles, designed to create trust in the timeliness, accuracy, security, and speed of transactions.

In its real estate application, it provides a more open and secure process for transactions, eliminating the need for third-party participation and paper documents. Here are other benefits of blockchain technology in real estate:

Transparent Transactions: Tech-savvy real estate investors leverage blockchain for transparent and secure transactions, reducing fraud risks and enhancing trust between parties.

Smart Contracts Simplify Processes: With blockchain technology, you can implement smart contracts to automate and enforce contractual agreements without intermediaries, streamlining property transfers, lease agreements, and payments.

Tokenization for Diverse Investments: Explore the tokenization of real estate assets, allowing investors to own fractional shares of a property, increasing liquidity and providing more diverse investment opportunities.

Often called proptech, or property technology, real estate investors are leveraging solutions to streamline property management. Here are some things that Property Management Softwares can do for real estate investors:

Operational Efficiency: Real estate investors can streamline operational tasks with property management software, from rent collection to maintenance requests, allowing you to focus on strategic aspects of your investments.

Informed Decision-Making: You can gain valuable insights through data analytics, enabling data-driven decisions based on occupancy rates, key performance indicators, and other metrics.

Enhanced Tenant Experience: Proptech helps Improve the tenant experience with online rent payments and automated maintenance requests, contributing to tenant satisfaction and reducing turnover.

Technology moves at a fast pace and these three we mentioned above are just a few of the technologies that real estate investors can explore. These new technologies offer investors global accessibility allowing you to explore and manage properties from anywhere in the world.

It can also help you conduct thorough due diligence in assessing properties, markets, and potential risks with greater precision and speed. Finally, adopting these innovations demonstrates a commitment to efficiency, transparency, and a forward-thinking approach to real estate investments, providing a competitive edge in the market.