Technology is always evolving, and this includes growth in the real estate tech industry. If you’re on the lookout for such trends, then you’d be excited for these upcoming technology developments in 2020:
1. Big Data
This refers to the huge amount of data analyzed by algorithms. This is what is used to make predictions when it comes to purchasing behavior – one that’s taken from previous trends, patterns, and associations.
In the real estate industry, Big Data also plays a major role. With the help of CRM or a suite of products that detect when a potential client checks out your platform or listing, you can then collect data as to what the client is doing on your website.
This allows you to predict when a potential client is ready to buy from your listing or sell his property. You can also check how many people will possibly turn up on your next real estate listing or even check how a specific property would sell or rent before you even list it.
For instance, if you’re an investor and are searching for Emaar Beachfront apartments, one of the most luxurious areas in Dubai, your data would then be processed by algorithms. You’ll then be given a set of information that’s timely and in tune with what you’re looking for.
2. Cloud Property Management Software
While it was not used often previously, cloud computing is becoming a trend now, and it’s expected that more and more people will use it due to its wide array of benefits. The real estate industry is now starting to take notice of this too. In fact, there are a lot of Dubai real estate agencies that are taking advantage of this feature.
It’s mostly due to the cloud property management software wherein one can enjoy features like bigger accessibility, cost and time saving, increased security, and scalability. In addition, cloud computing also now offers a feature wherein clients can access property information 24/7, something that’s really a game-changer in this industry.
3. Blockchain Technology
You’ve probably heard about it before. Blockchain technology uses cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and the like. These public databases can record transactions without a middleman, so the real estate industry can benefit from these as there are no added costs and legal papers to work on, making settlement processes faster.
Due to such technologies emerging, off plan projects in Dubai and ready projects are now becoming more in sync with these trends.
These are not the only ones to look out for in the upcoming year, so be all the more excited to know what the next real estate trends are by staying tuned to our blog.