Times they are a changin’—new and emerging technologies are changing the way agents and brokers do business, taking the entire industry into exciting and uncharted territory. Here are some of our favorite future tech we can’t wait to get our hands on.
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VR has existed in some form since the early 80’s but we are finally reaching a point where the technology has the interest of the general public and big business. This seems impractical but virtual reality devices could very well be the next massive thing. Earlier this year, social media titan Facebook purchased the leading company in VR technology, Occulus Rift for around $2 billion.
It’s use for real estate brokers is already in the pipeline. Imagine potential homebuyers and clients that can walk though all of your listings in the comfort of their own homes. No longer will agents and brokers be limited to their geographical area, out-of-state buyers can get an entire housing your tour from thousands of miles away.
If VR becomes mainstream it could change the way agents show homes. Could the digital space take over the physical? Probably not completely but it could be a way to get buyers excited or interested in a property.
Although the FAA has said the use of drones for real estate drones is illegal, savvy agents have been using them to give their listing a boost of aerial style. These little robots are strapped with cameras and flown over neighborhoods to show a unique and birds eye view of the property.
Drones can make a huge impact on your real estate business. Homebuyers are proving these methods popular because you can get a feel for the whole neighborhood, traffic conditions, and popular areas.
The FAA cannot fight emerging and popular technology and will more than likely examine the current laws regarding the use of small aircraft as long as the real estate industry pushes back.
Google was the first major tech company to toy with the idea of wearable computers and technology and companies like Apple and Sony are ready to get into the mix with their own devices.
Brokerages are already making use of Google Glass for training agents by using the devices live video streaming capabilities to help with clients or offer advice in real time. Some brokers will strap Google Glass on their top performing agents and use videos of their sales and marketing techniques to train newbies.
Agents who adopt these devices early could set themselves apart from their competition with a bit of creativity.
None of the tech we listed has the chance to affect the real estate industry in a major way like the introduction of 3D printing. While 3D printing has been around for over a decade, the technology to surrounding the practice has finally reached to consumer level.
3D printing (like the name implies) uses Computer Aided Design programs to create physical objects out of any digital design. You can make objects out of almost almost any material and the possibilities are limitless.
How this technology will effect real estate in unknown but we are already moving into some exciting territory. A company in eastern China used a giant 3D printer to create 10 full-size houses in a single day for around $5,000 each.
Imagine selling homes that were designed, built and listed in the same week. As the technology continues to evolve, so will the creativity and imagination of the tech-savvy agents that utilize it. Exciting times are ahead for our industry.