According to Forbes.com, real estate investment businesses are going to witness a wide selection of applications with technologies in the upcoming years. Accordingly, real estate investors and real estate agents can expect to automate and computerize many aspects of their workload!
Ways technology is transforming your real estate investment business
We’ve gathered a list of tools and platforms through which technology is seeping right into your real estate investment business:
Artificial intelligence applications
Artificial intelligence services and applications are becoming an inseparable part of real estate investing. If you’re a real estate agent or a real estate investor, then you must have already used one without being aware. A simple application of artificial intelligence would be lead generation applications and connecting the real estate agent with the property buyer or seller directly and efficiently. Of course, artificial intelligence is nowhere near working at full capacity in the real estate investment world.
Looking to learn more about AI’s effect on lead generation applications? Read this blog post: Lead Generation Program: The Unique Approach of Mashvisor.
Transparency is the goal in every industry! Most international companies are letting people see what goes on behind the scenes. And that’s what real estate investment businesses are trying to implement. Additionally, technology offers cold hard facts; it’s not biased, and every part of any deal is shareable knowledge. To be exact, when buying, a property investor will have a list of vendors to choose a mortgage plan, compare prices and choose the right option. For property sellers, offers can be automatically filtered and viewed to give the most encompassing image of the situation. Of course, transparency is something that all real estate investors and real estate agents must achieve within their real estate investment business. It might be at the dawn yet, but bigger things are coming in the upcoming years!
Managing data and carefully analyzing it is helping real estate investors and real estate agents to make money in real estate. You might ask, “How?” Simply put, real estate generates many pieces of information about every sale and every deal that goes down. Accordingly, if this data is organized and analyzed, real estate professionals can benefit greatly from predicting future individual behavior and economic behavior in general. Additionally, data management systems are becoming an essential part of any functional business. For example, clients data is often used to generate more leads in real estate investing. It’s an efficient way to cut out the middle man and perform an encompassing analysis through your own data network.
Buying and selling properties through virtual reality
We’re witnessing a lot of applications to 3D virtual tours of real estate properties. With virtual reality becoming more and more popular, the technology is not going to take longer to transfer into real estate investment businesses. In any case, if virtual reality tours are perfected and fitted to the real estate world, it will become much easier and faster to buy an investment property and make an offer without having to be there physically!
Many of Mashvisor’s property listings have virtual tours! Check them out here.
Advertising and marketing
While advertising and marketing are still in their early stages when it comes to the implementation of technology, the real estate investment world is very welcoming to new methods and updates to include more and more selection and specification. The biggest indication of technology’s constant effect on the real estate investment world is geo advertising and marketing. Specifically, when you scroll down your Instagram, you will see many of this geo-targeted and sponsored posts. This unique marketing method is going to revolutionize the way all kinds of businesses reach their customers.
More and more technology applications are finding their way to the real estate investment business by offering transactional services. Something completely unimaginable 15 years ago! These E-signing and online notary services are changing the way real estate investors and agents complete transactions. This is a revolutionary breakthrough that cuts expenses and increases efficiency in any real estate investment business.
Wondering about other real estate investment business expenses? Read this blog post to stay informed: 9 Rental Property Expenses Real Estate Investors Shouldn’t Forget.
Online investing is another application of technology to the real estate investment business. Ideally, real estate investors or users are brought together in a crowdfunding platform. There are plenty of platforms that offer you an investment opportunity for as little as $50. Such online methods of investing are revolutionizing the real estate investment world; no investment is valued too little.
How can Mashvisor transform your real estate investment business?
The use of Mashvisor’s investment property calculator can change things for both the real estate investor and the real estate agent. For real estate agents, the lead generation program is becoming more and more advanced to encompass a wider variety of agents and qualified leads. Keep in mind that Mashvisor also offers digital marketing profiles for free at no cost to real estate agents! To increase your visibility to real estate investors and homebuyers, click here.
Now, for the real estate investor, conducting a thorough investment property analysis through such an advanced AI can give you the boost you need over others not employing such technology in their real estate investment business. In other words, you are able to predict how an investment property behaves over time according to historical data and current market data and fluctuations. You can easily find out the cap rate, cash on cash return and even occupancy rates for Airbnb rentals!
Read this blog post to gain more knowledge on the topic: How To Do Investment Property Analysis.
Technology is changing how the investment world functions. The need for manual labor and data is becoming obsolete as technology is constantly increasing in efficiency and accuracy. With this constant increase, real estate investors can conduct three months’ worth of research in 15 minutes! So, start making use of the technology around you and start incorporating it into your real estate investment business to make the most of it!
If you have any other insights on technology’s effect on real estate investment businesses, please share them with us in the comments section.
To learn more about how we will help you make faster and smarter real estate investment decisions, click here.