The real estate industry was one of those business segments which suffered from the global pandemic a lot. Well, it was a regular phenomenon because of the global influence of COVID-19. People weren’t (and still not to the full) sure about their future. So the real estate market has been struggling for some time.
Anyway, no matter the changes happening in the world, all industries have started recovering, including real estate. And the experience of the previous years has increased the popularity of the companies with real estate software development services to help both buyers and realtors realize their plans, link here if you want to go further into the area. This is only one trend in this industry that you may be interested in.
So take a look at the current situation in the real estate business. Let’s share the main statistics and predictions in this industry. Also, it’s essential to pay attention to the key trends like real estate web and mobile app development, engaging website designs, etc.
What To Expect In Real Estate In The Future
Despite the downturn in 2020-2021, the real estate market is expected to demonstrate optimistic results in the next 5 years. It was estimated at more than $7227.13 billion in 2022 and will reach the point of $73.1 billion by 2026.
The key reason for the stabilization and growth of the market is new solutions that will meet individuals’ needs. Thanks to modern technologies, buyers and sellers will be able to use useful features to reach their goals in this industry.
For instance, real estate software solutions help to gather information about housing investing, 3D tours allow showcasing 360 walk-throughs, and so on. Incredibly fast and comprehensive digitalization makes smart home technology accessible to many people.
By using real estate development solutions, a buyer and a seller could get much more benefits in the real estate industry and realize their plans for sure. Also, housing investing will keep increasing as well. The latest surveys and predictions illustrate that home prices will continue to rise in the following years a little slower.
That’s good news for buyers who aspire to buy a property. Experts expect house prices to be 16% higher than in the previous year and the interest rate to be significantly low too. That’s why an opportunity to purchase a property will become more affordable for people.
And let’s not forget that working from home is still a worldwide trend. Yes, remote work did exist in the past years too but it was never in such huge demand ever. People adapt to a new reality and keep living their lives in COVID-19 conditions.
So having a corner for work in your place becomes a must for modern adults. Such a fact increases the interest in real estate software development services for sellers, buyers, and realtors.
In the end, it all comes down to the technical achievement of the real estate business. So let’s reveal the key trends in this industry for 2023.
Top Real Estate Technology Trends
We are all witnesses of how digitalization makes living more productive, exciting, and accessible. You can purchase any product online and receive it by mail without visiting a physical store.
The same evolution is happening to the real estate industry. Professional real estate software developers make many things real that were impossible just several years before.
The appearance of new technologies in the real estate business depends on up-to-date trends. Thanks to them, selling or purchasing property becomes more efficient and exciting as well as giving customers satisfaction. So let’s mention these trends.
1. Developing An Engaging Website
The website for a company or personal brand is a must. It helps to target new customers, communicate with them, and cut costs on old-fashioned advertising. A professional website has to meet several key requirements:
Be Informative
After taking a look at your website, your potential customers should find the information they need;
Be Mobile-friendly
Most individuals search for goods and services online using their smartphones so prefer ultimate real estate app development;
Be Attractive
Pleasant design is everything because modern users are spoiled by a variety of visual content in ads.
2. Operating Big Data
Big Data is a popular but tricky concept. Without useless descriptions, you need to understand that this technology is able to automatically analyze big masses of information from different sources. So you can save your time searching for something among the huge amount of similar data.
That’s why Big Data is known as an in-demand trend in the real estate business. It is extremely efficient in structuring information and making it accessible to people.
3. Using Predictive Analytics
Analytics is one of the most requested features in real estate software development. That’s because statistics and facts are the most trustworthy indicators to make choices. Predictive Analytics gives you essential information about your customers’ behavior and predicts their needs.
Thus, by knowing buyers’ and sellers’ expectations, you can provide them with the appropriate services. This technology is a must for all realtors who want to be aware of customers’ needs and satisfy them by being one step ahead.
4. Relying On A Cloud Storage
As real estate accounting software, cloud storage is a top-notch solution for this business. It is well-accepted by both real estate experts and their clients.
According to the latest surveys, approximately 80% of professional realtors rely on cloud storage technology. It allows them to access required documents, contacts, and other information from any device, any location, and at any time. In addition, it improves the security of your data and optimizes it as well.
Digitalization and technology trends are integral elements of people’s daily lives nowadays. That also relates to the real estate industry. Starting from virtual tours to property management software solutions, all sides of this market can take advantage.
Without a doubt, the future of the real estate business includes modern technologies. That’s why the impact of the technology trends will keep growing. If you don’t rely on them then it’s definitely time to start implementing them and scale your interests in this field!
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Ella Marcotte
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