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Technology touches every facet of our lives, from ordering food to making transactions. And in every industry, technology has made automation, customer service, processing … etc. more efficient and secure. Real estate is no different. Technology has appeared not in just software and apps but through devices and hardware. Below are some of the technologies that enable investors, buyers and sellers to find and make purchases quickly and easily.

  1. Blockchain – This technology (a series of computing “nodes”) can be used in the real estate industry since there are many financial documents (containing sensitive information) created for a deal. Blockchain has many benefits, but for real estate, the data protection, privacy and non-tampering features are the most important.
  2. Automated Value Models – They allow investors to analyze revenue and expenses required to make a purchase. For example, Enodo is an underwriting and value platform that uses artificial intelligence to analyze a property to give investors the information they need to support investment decisions.
  3. Electronic Notary – Since many real estate deals can be done digitally, the same should be for notary services. Notarize is platform that enables users to legally notarize a document by an eNotary in five minutes.
  4. Rogue Platform – This enables real estate agents and investors to work from any location and provides a number of tools, such as online contract signage, a dashboard and a property management blast.
  5. Virtual Reality – Virtual reality has already hit the market with video games, now it’s being used to show properties. Buyers and investors can use this technology to view a listing through a 3D virtual property tour as well as navigate floor plans.
  6. Virtual Assistants – Real estate agents will find virtual assistants beneficial in that they work 24/7 and provide data in a few seconds.
  7. Data-driven Tools – These tools use data science and machine learning to determine how people are using their space as well as generate leads for real estate agents. For instance, First has developed an SaaS platform to measure hundreds of factors from an agent’s contacts to produce a “seller score.” This score determines how likely a seller is it put his or her home on the market. This saves agents time and money.

These technological breakthroughs make buying and selling more productive and can be done from anywhere in the world, whether on a laptop or iPhone. There’s no more going to a notary or scheduling a bank/mortgage appointment. Now, a real estate transaction can be done in the comfort of one’s home.