Quite often, the future of the real estate sector is a perennial matter of discussion. Changes in the market can make or break a portfolio of rental property investors. It is crucial to keep up with what industry experts say about the future of the real estate market. Expert forecasts about the future of real estate are discussed in this article. We’ll also look at how Homestead property managers and investors might profit from these trends.
What the experts are saying
Than Merrill, CEO of FortuneBuilder and a real estate investor, acknowledges the impact of technology on the real estate industry. As reported by Merrill, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for those in the real estate business. He also believes that these technologies will help buyers and sellers of real estate to work more quickly than ever before.
Similarly, many more real estate investing traditions are expected to be disrupted by technology, according to market experts. Dominique Burgauer, CEO of Archilogic, predicts that in the near future “almost every stage of a building’s lifecycle will be managed online. From construction and furnishing to sales and maintenance, the real estate industry will be online.” Burgauer thinks that as more Millennials enter the housing market, they will no longer “tolerate the industry as it is today.” The demand for online services will only continue to increase, necessitating the online migration of property investors, landlords, and other market participants.
Looking at it another way, Adena Hefets, co-founder and CEO of Divvy Homes, observes that innovation has already pushed real estate investing in new and interesting areas, and will continue to do so. According to Hefets, this invention “will continue to dramatically improve the customer experience – as more real estate companies will apply the immense data they have collected from being in the market to their platforms. This data application will help us better understand the market, helping home buyers negotiate, obtain a mortgage, deal with title issues and escrow, and efficiently remove many headaches that previously plagued the home buying experience.”
Implications for Rental Property Owners
With real estate experts predicting that technology will have a significant impact on the future of rental property investing, it seems smart for owners to pay attention. It is more important than ever to stay abreast of the latest technological developments. You may surely keep ahead of big market shifts and continue to maximize the potential of each property by employing cutting-edge technologies.
However, it can be time-consuming to evaluate each newly released real estate technology solution and select the optimal course of action. The best option for you is to employ a reputable management firm such as Real Property Management Dade to help you through the changes. We are part of a national company with the resources to research and adopt the technology rental property owners need to stay profitable and efficient. Contact us online today to learn more.
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