How Technology Is Revamping the Real Estate Market
16/07/2017

Wouldn’t it be amazing
to view a home or purchase a home or invest in real estate from your smartphone
or touch screen computer? That sounds great. But it’s also possible. Proptech
companies around the world are creating ways for people to blend technology
with real estate. This technology discards the old way of purchasing real
estate. This technology brings buying real estate to a new level of allowing
people to look at a touch screen and envision their brand-new home, commercial
building or investment property.
Proptech companies have created the means for a person to look through any touch screen pos monitor and view real estate in an entirely
different city, state or country. Proptech companies have enabled people to
make financial and home buying decisions merely form viewing a property from
their touch screen phone or computer. These companies are matching real estate
sellers with real estate buyers. This is changing the way people sell, buy and
invest in real estate. All of this would not be made possible without
technology.
So, what is proptech? The term was coined from the word’s
property and technology. Together these two words have created proptech. The
proptech industry comes from the invasion of modern technology into a
traditional industry like real estate. Technology and real estate is such a big
deal because the real estate industry has not always been an industry so that
has been quick to adopt new technologies and methodologies. Some welcome this
new wave of technology. Others feel that technology will threaten the jobs and
livelihoods of others. Regardless of opinion, it is fair to say that technology
and real estate are forming as one.
Some of the way’s technology are changing the way home buying is done is simply
through smartphone applications. Yes, people still drive around a neighborhood
to view homes that have been listed for sale. But people are also increasingly
going to apps on their phone typing in the type of home they want and are
seeing an array of properties appear that meet their specifications. This is a
fine example of proptech.
Investing in a REIT or lending money to develop an office building of
constructing cell phone towners can easily be done from a smartphone. This is
what the proptech industry is making possible. If you need extra cash to flip a
property, there are startups with the technology that allows people to get cash
to flip homes. If you are seeking investment opportunities, there are proptech
startups with the platforms to offer people real estate investment opportunities.
Who would have ever foreseen a time where people can sit at their computer
monitor or touch screen smartphone and handle a home buying transaction? What
will become of this budding proptech industry? No one knows for sure. But what
is known for certain is that real estate will never be the same. The process of
buying real estate and selling real estate is forever changed because of this
new revolutionary industry.