Till 2018 it seemed that there is no industry left which has not been influenced by modern technologies. Considering new tech as one of the steps to sustainable development companies of the real estate market should follow up on those trends.
Entering new stage of the innovative period, when people are traveling to other planets to find the place for living, it is very important to provide people with «cosmic» innovations on the Earth to hold clients.
According to the statistics, the largest segment on the USA market are millennials-about 35% and in cities like Newark Nj, the age segment of 18-35 takes about 26% out of all citizens. 66% of them are planning to purchase real estate within the next 5 years.
However, it is important to take into consideration some economic factors which millennials might face, the purchase of real estate can be delayed and has to be as much attractive as possible to be done sooner. Focusing on their life principles and preferences will help representatives of the real estate market to be on the couple steps ahead.
Kindly subscribe to our YouTube channel
While doing an analysis of real estate market and how is it influenced by new technologies, it is possible to distinguish main topics to talk about: website and its options, social media profiles, innovativeness and AI.
It is not a big secret that option of online shopping is an integral part of a business and market of real estate has also to have such options, as 80% of millennials do they purchase on this market through the internet. As purchase not only possible variant they go for renting an apartment in Newark and other US regions and do not use paper classifieds, as it is enough to go web and check the rental websites like Zillow, Trulia, Rentberry.
Such websites provide customers with full visualization of the house or apartments, so to give an opportunity for «searchers» a feeling of their presence in a particular house. The potential owner might imagine and actually without attendance to make a pre-decision.
Updating the websites with SEO requirements can improve the activity and help to get new house-buyers while adding machine learning technology can help to analyze the consumer preferences better and advise them suitable variants.
Annualizing statistics of purchases on the, almost 40% of customers come with the decision to buy the estate after the 306-video tour. Imagine how percentage can grow if the company/ home seller has a social media account, drone photos, and virtual reality access.
The market of real estate has become one of the largest industries which use drone technologies, as photos which made with this technology can show the house and landscape in high quality.
By benefiting from drone technology seller gets more opportunities to be founded, «extra-mile» rank, higher revenues etc. Understanding the tendency, of exploring the house without wasting time for the road, the next step for the real estate market is using Virtual reality technology, which will increase the percentage of online purchases.
The cloud and good data managing also influence the real estate market, as consumers want to do the purchase and arrangement as more accessible as it possible. Using technologies can offer electronic signature and emirate and safe documentary transfers.
Blockchain innovations may also be included in real estate business as it about scaling online transactions. This technology can offer the highest security, reduced admin cost, fast transactions and attractiveness for those home buyers who are involved in crypto investments.
Automation as an integral part of the human’s life in 2018 expects apartments/houses fit it. Now people willing to make life easier and more practical. The tendency to use the technology of smart houses has made a big impact on consumer choice. So using high technologies might increase the attractiveness of real estate.
Being accustomed to smart home technology people are looking for more and more innovating options. Coming up with the houses that are equipped with smart technologies people expect to get something unique and elegant and at the same time tradable and harmless for the environment.
Voice control, smart kitchen, Internet of things and the options attract home buyers. However, while being so close to innovative technologies people start looking for more advantages in their connivance and want either go green. Here appear topics like power and electricity savings, waistless existence, recycle, alternative sources of energy.
Having an ecological understanding more and more people wonder about investing in the green property and eco-friendly technologies. This becomes a significant step for a great number of millennials, who are the biggest segment on the market, due to efficiency reasons.
Combining smart house technologies and eco-friendly properties is absolutely about to drive this market. That forces representatives of real estate market to open new horizons of technologies which can compete with cosmic houses.
People are looking for places which are closer to nature, they want to live in not typical places, so the real estate market should react and act. The example of good innovativeness and combination with eco-topic is the hotel in Namibia «Shipwreck Lodge», which was designed as a ship after a wreck and located on the shore of the river which was the most dangerous for seafarers.
Such an idea should be followed by other representatives of the real estate market, as might become a good alternative for those who want to establish cosmic and other unusual areas.
Real estate market is on the great stage of its development, now it is time to do genius technology innovations which can create real competition on the market in order to satisfy the clients and become the leader on the market.