The real estate industry’s future is always a hot topic of discussion, and with good reason. Market fluctuations can make or ruin an investor’s rental property portfolio. It is essential to keep up with what industry specialists say regarding the future of real estate. This article explores various expert opinions regarding the future of real estate. We’ll also look at how Anacortes property managers and investors might gain from these developments.
What the experts are saying
CEO of FortuneBuilder and a real estate investor, Than Merrill, recognizes the impact of technology on the real estate industry. Merrill asserts, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate entrepreneurs. He also believes that these technologies would empower buyers and sellers of real estate to work swifter than ever before.
In a similar vein, several industry analysts anticipate that technology will disrupt even more real estate investment customs. Dominique Burgauer, the 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 expects that as more Millennials enter the housing market, they will not “tolerate the industry as it is today.” The demand for online services will continue to expand, necessitating that property investors, landlords, and several other market participants shift their business online.
An alternative opinion from Adena Hefets, co-founder and CEO of Divvy Homes, points out that innovation has already altered real estate investing and will continue to do so in new and interesting ways. This innovation, says Hefet, “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
Experts on the real estate market agree that technology will have a significant impact on the future of investing in rental properties, so it is prudent for owners to pay attention. It is more crucial than ever to be current with the most recent technological advances. You may remain ahead of major market shifts and continue to maximize the potential of each property by utilizing cutting-edge technologies.
Furthermore, analyzing each new real estate technology as it becomes accessible and deciding the right plan of action can be time-consuming. Hire a good management company like Real Property Management Teyata to guide 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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