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. That’s why it’s crucial to keep up with what industry experts have to say about the future of real estate. Expert forecasts about the future of real estate are discussed in this article. We will also explore how Jacksonville property managers and investors might profit from these innovations.
What the experts are saying
Than Merrill, CEO of FortuneBuilder and a real estate investor, sees the impact of technology on the real estate business. Merrill says, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate consumers. He also thinks that these technologies will enable buyers and sellers of real estate to work more quickly than before.
Similarly, many more real estate investing traditions are expected to be disrupted by technology, according to other market specialists. The CEO of Archilogic, Dominique Burgauer, believes that in the very 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 says that as more Millennials buy homes, they will not “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. This innovation, according to Hefets, “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
Since real estate experts predict that technology will have a huge effect on the future of rental property investing, it seems smart for owners to pay strict attention. It’s more vital than ever to keep up with the latest technological advances. Using cutting-edge technologies, you can anticipate important market shifts and continue to maximize the potential of each property.
However, it can be time-consuming to evaluate each newly released real estate technology solution and select the optimal course of action. Hire a good management company, such as Real Property Management Champion, to help you navigate 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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