MASTERKEY BLOG

Top Tech Trends for Real Estate Companies in 2018

The real estate industry is continually evolving, and innovative technologies are shaping the way real estate agents, brokers and developers run their businesses.


Here are just a few of the trends that are poised to shape the real estate industry into 2018 and beyond.


Real Estate Robots

 

Traditionally used by other industries for customer service, robot technology leverages a computer to engage conversation-style with a real person (i.e. text message or instant chat). As this technology continues to emerge as a robust customer service and real estate lead generation tool, you’ll begin to see an increase in chatbots throughout the real estate industry.


Chatbots and voice bots are programmed to answer consumer questions, with little to no delay. Not only do they keep customers happy, but they also free valuable time to allow agents and brokers to focus on other significant matters.


Chatbots can be programmed to respond to trigger messages based on specific keywords or actions. Additionally, real estate virtual assistants and voice bots such as Siri or Alexa can help you simplify your workload. They can perform tasks such as scheduling meetings, creating reminders and searching the web for property news.


Blockchain and Real Estate

 

Blockchain is all the buzz and shows unbelievable promise for the real estate market in 2018. Blockchain is a secure cryptography tool known for tracking Bitcoin digital currency. This innovative tracking technology has the potential to transform any record-keeping scenario, including real estate deals.


Essentially, blockchain is a public database or digital ledger that records all transactions. Blockchain also eliminates the need for a central verifying authority, such as a traditional bank. By eliminating the middleman, you can reduce legal fees and title-related costs while streamlining a more efficient settlement process.


Virtual Tours and Augmented Reality

 

Virtual Reality (VR) is one of the fastest evolving technologies on the market. In fact, VR and Augmented Reality (AR) are expected to generate $150 billion in revenue by 2020.


VR allows potential renters and home buyers to virtually tour any property, any time of day, from any location in the world. With VR tours listed properties are open for viewing 24/7. This allows brokers, agents, and clients to save money and time while simultaneously increasing efficiency and client engagement.


Additionally, AR apps can superimpose a computer-generated image of an object into the home setting, allowing potential buyers and renters to virtually decorate a space using their phones or tablets. This empowers brokers and developers to showcase the potential of an unfinished space using AR. Combined, the potential of VR and AR is unlimited.


Push Technology

 

While push technology has been around for years, it's becoming more popular as agencies continue to develop their own smartphone apps.


According to Kahuna Mobile Marketing, push notifications double retention rates and help prevent app uninstalls. Agencies can leverage push technology to send content alerts to a smartphone’s screen and other notifications to encourage users to engage with their app, generate leads, and much more.


Property Management Software

 

Comprehensive, innovative and user-friendly real estate management software empowers agents, brokers and property managers with the tools necessary to meet all of their needs in the real estate business. Real estate management software, such as Masterkey Professional, gives real estate professionals the power to manage their business online in real time.


With the right software, real estate professionals can:


  • Achieve and exceed sales and revenue targets
  • Streamline, organize, and manage business operations
  • Track, monitor, and analyze transactions and sales performance
  • Synchronize information between agents/brokers and property portal partners
  • Enhance data security
  • Plan, execute, monitor and track marketing campaigns
  • Save time and money through with improved financial management
  • And much more


Whether you want to prepare for the challenges of your industry or you plan on growing your real estate business, Masterkey provides comprehensive, innovative and user-friendly software solutions dedicated to meeting all of your needs in the real estate business.

 

To find out more about how Masterkey can help your company, contact a member of our team for a live demo. We look forward to hearing from you.


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