ATG: TECHNOLOGY & REAL ESTATE
Over the last 10 years, technology has transformed and bolstered the real estate industry, making transactions more efficient and convenient for agents and homebuyers alike. Technological advances such as electronic signatures, virtual home tours, and online home listings have become so ubiquitous that they now seem almost essential for any potential homebuyer – but looking to the future, there are still many exciting ways technology can continue to empower the real estate sector over the next decade.
Consumers Want Seamless Online Sales
The development of secure financial digital tools has allowed easy data access and transfer, making it possible to move home sales entirely online. As this technology becomes faster, safer, and less expensive, asset transfers that occur in a completely virtual environment are likely to become more common. Additionally, notarization has also started to migrate online due largely to the development of more secure programs. As the rest of the home-buying process goes virtual, it makes sense that over the next 10 years, notarization and other transactional aspects will follow.
Virtual Tours and AI
While virtual tours and artificial intelligence search options were considered a nice perk only a short while ago, now these novel technologies are becoming invaluable to both homebuyers and real estate agents, thanks to the tremendous added value they provide. AI platforms in real estate might include a robot that provides tours of a property or a 3-D virtual experience that allows someone to explore a home at their own pace, freeing up agents to work with more clients at a time.
For consumers, the benefits of technological advancements in this area are obvious – they may eventually have the opportunity to virtually personalize a home before they buy it, allowing them to actually see it with their own furniture and décor inside. They can also conveniently explore a variety of different properties from the comfort of their home or office before they find one they’d like to see in person. In some cases, buyers have purchased a home before seeing it in person, simply based on the virtual listing they viewed. Over the next decade, these kinds of purchases may become more common.
The Power of People and Tech Combined
Despite these technological advancements, real estate agents will always remain one of the most important parts of the home-buying experience, as they are available to answer questions and guide their clients through one of the biggest purchases they will ever make. The experience and knowledge that a real estate agent has is invaluable, and they have first-hand knowledge of the market, as well as knowing exactly what their clients want when buying or selling a home. The guidance from agents, lenders, and title professionals combined with developing technology features is making the buying and selling process easier than ever.
If you’re ready to close on your next home, please give the team at Attorney’s Title Group a call. We will ensure your closing experience is the easiest part of the process! Reach out to us via phone (501) 734-2233 or email: [email protected].
Attorney’s Title Group is an affiliate The Wilson Law Group. Read more from the Attorney’s Title Group Blog by clicking here.