Real estate app development will resurrect this sector in the coming months and years. If you’ve been someone looking to invest in the property market or if you’re a real estate broker, you definitely know that the market has been down for the last couple of years.

With the economies of several countries being volatile and with the sudden onset of a global pandemic, real estate has significantly come down in terms of prominence and patronage. But soon, this is going to change thanks to real estate mobile apps and other technologies like artificial intelligence in real estate.

According to statistics , there is no dearth of human population and the need for space and real estate for life and livelihood. It’s estimated the global market value of the real estate economy will increase to $45tn by the end of 2020.

Not just that. The urban population is expected to become 6.3bn by 2050. 14 new megacities will spring up in the next few years, simultaneously surging the scope for opportunities and expansion.

So, if you notice, what the segment lacks is not money or other barriers to sales but proper channels or approaches to selling real estate, connecting with leads, organizing site visits and more.

Unlike other market segments like healthcare or entertainment, technology has still not been picked up by a lot of companies and business people. Statistics reveal that only around 40% of real estate agents and companies are on social media channels or have a website. And thankfully, that’s gradually changing now with the development of real estate apps, smart home solutions and more.

In today’s write up, we will discuss exactly this and understand the trends that are anticipated to rule the real estate scene in the year 2021. This will help you rethink your investments and make better tech decisions to push sales and commissions.

Let’s get started.

The Most Popular Real Estate Trends for 2021

Real Estate Apps

One of the first implementations in real estate technology is the smartphone app. Smartphones have become an extension of our arms and it’s the only entity that most of us spend most of our time on. That’s why real estate applications will gradually start to become prominent among real estate businesses and consumers in 2021.

Smartphone apps will simplify a lot of things for both the stakeholders such as optimizing site visits, paperwork and documentation, verifying the authenticity and credibility of sellers and even bring in automation capabilities to take care of redundant tasks. They could help real estate businesses save time on operational expenses and focus more on customer service, which is key in this segment.

Mixed Reality in Real Estate

By mixed reality, we mean two of the most futuristic technologies – augmented reality and virtual reality. Both are designed to offer immersive, interactive and enriching experiences to users.

Augmented reality in real estate will allow consumers to have a 360-degree view of apartments, complexes and other real estate commercials right from wherever they are. With social distancing and lockdown protocols, augmented reality will ensure sales and engagement in the real estate sector continues to happen with people using augmented reality to look at properties from their living rooms.

Virtual reality in real estate, on the other hand, will take the experience a step further and put users and consumers in the middle of the properties they are scheduled to visit. From wherever they are, they could be transported into a 3D-rendered world of the commercial or apartment complex and have first-hand experience of the property, life in it, the array of features and facilities and explore more. They could get a glimpse of how their life would be in their preferred properties.

Apart from elevating user experiences, mixed reality technologies can also be incorporated in interior designing to help consumers visualize and select paint colors, wallpapers, home décor items, furniture and more and have a complete look of the final product even before the work for it begins.

And if you have friends and family living abroad or somewhere else, they could easily visualize your world and get a glimpse of the property and experience what you experienced for collaborative decision-making processes.

How helpful is that?

Automation in Real Estate

Real estate mobile apps will allow for automation for business owners and associates involved in the business. Like you know, the associates have a list of redundant tasks they need to execute on a daily basis. They need to check their leads list, make calls, send out emails and brochures to leads, handle paperwork and documentation, schedule property visits, do follow ups of them, remind people for down payments and do more.

It’s a hectic day every single day for real estate agents and business owners and automation could make their professional life simpler and easier. For instance, they could make use of automation in email marketing, use CRM to schedule appointments and generate leads, run social media campaigns, handle customer relationships and support queries, write and maintain blogs on company websites and get more things done with automation.

Business Intelligence with Big Data

One of the other important aspects in digital transformation in real estate is the implementation of Big Data. This gives way to business intelligence.

From the data gathered through apps, websites, social media channels and other touchpoints, real estate companies could make use of the Big Data to understand more about consumers and their tastes and preferences. This will allow them to show their consumers properties they are most likely to prefer and like and personalize their services.

Business intelligence will also give an in-depth understanding of market conditions, competitors and their pricing strategies, reduce expenses and drive better RoI with comparatively minimal efforts.

Smart Home Solutions

Smart homes are those that have a network of interconnected devices. Their role in real estate will primarily be to increment the credibility and safety aspects of buying a property and help real estate businesses push sales.

With the implementation of the Internet of Things and smart home solutions, a lot of things can be automated like lighting, air conditioning, thermostats, entertainment devices and more. Besides, they could also be used to operate safety lockers and doors from remote through an application. This enhances the safety of the house and property and keeps instances like burglaries and intrusions at bay.

By implementing smart home solutions in properties by default, real estate agents can ensure a safe and secure environment for potential buyers and drive sales. Reliability is key in real estate and IoT simply nails this concept in favor of businesses.

Artificial Intelligence in Real Estate

So far, most of the implementations such as Big Data, smart devices and others we discussed are all either directly or indirectly powered by one entity – artificial intelligence. Its algorithms and potential drives several functionalities. Apart from what we saw, artificial intelligence in real estate will also give rise to chatbots in the industry, which will replace human interaction with robots that could take care of questions, tasks and other complex escalations seamlessly.

Lead generation and conversions could also be optimized by artificial intelligence and its bots, ultimately making the way for more qualified leads for associates to call and convince. Response rates can be increased to up to a 100% with bots and online presence can be simultaneously boosted.

With artificial intelligence, creativity is key and the more creative you are, the better applications you can come up with.

Blockchain

Real estate involves investment in huge amounts and for a lot of people, it’s a matter of their life savings that they intend to invest in the dream of a new property. Because of this, there is a lot of skepticism involved in buying and selling properties as factors like credibility and authenticity of real estate companies come into the picture.

And if you’re someone new, it would take more time to build trust in the market. That’s where blockchain comes in. With this, you could pave the way for a fool-proof transaction system, tamper-proof documentation and paperwork and operate on complete legitimacy.

With the help of blockchain, you could skip the involvement of several middlemen, reduce paperwork with smart digital contracts, decentralize records storage and retrieval and do more.

Wrapping Up

Like you saw, the scope for tech intervention in real estate is aplenty and it’s only a matter of time before you see your results. A lot of these implementations are difficult to be pulled off autonomously as most of them involve the development of a real estate app for seamless functionalities.

That’s why we recommend getting in touch with a premier mobile app development company like ours to get a custom app built for your real estate business. Tech is the only entity that could resurrect this market and the sooner you bring in digital transformation; the more profits you would make in 2021.

So, get started with us today.