What the experts are saying
Than Merrill, CEO of FortuneBuilder and a real estate investor, acknowledges the impact of technology on the real estate industry. Merrill declares, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for those in the real estate market. He also believes that these technologies will help buyers and sellers of real estate to work more quickly than ever before.
In a similar vein, several industry analysts anticipate that technology will disrupt even more real estate investment customs. Dominique Burgauer, CEO of Archilogic, predicts that in the not-too-distant future, “almost every stage of a building’s lifecycle will be managed online. From construction and furnishing to sales and maintenance, the real estate industry will be online.” Burgauer says that as more Millennials buy homes, they will not “tolerate the industry as it is today.” The demand for online services will only continue to increase, necessitating the online migration of property investors, landlords, and other market participants.
Another view from Adena Hefets, co-founder and CEO of Divvy Homes, points out how innovation has already revolutionized real estate investing and will continue to push it in new and interesting directions. This innovation, according to Hefets, “will continue to dramatically improve the customer experience – as more real estate companies will apply the immense data they have collected from being in the market to their platforms. This data application will help us better understand the market, helping home buyers negotiate, obtain a mortgage, deal with title issues and escrow, and efficiently remove many headaches that previously plagued the home buying experience.”
Implications for Rental Property Owners
With real estate experts predicting that technology will have a significant impact on the future of rental property investing, it seems smart for owners to pay attention. It is more crucial than ever to be current with the most recent technological advances. Using cutting-edge technologies, you can anticipate important market shifts and continue to maximize the potential of each property.
Likewise, assessing each new real estate technology as it becomes available and deciding the best course of action can be time-consuming. Hire a good management company like Real Property Management Now to guide you through the changes. We are part of a national company with the resources to research and adopt the technology rental property owners need to stay profitable and efficient. Contact us online today to learn more.