The future of the real estate industry is always a popular discussion. Market fluctuations can make or ruin an investor’s rental property portfolio. That’s why it’s crucial to keep up with what real estate experts have to say about the future of the industry. This article explores various expert opinions regarding the future of real estate. We’ll also look at how Leander property managers and investors might profit from these trends.
What the experts are saying
CEO of FortuneBuilder and a real estate investor, Than Merrill, observes the effect of technology on the real estate sector. According to Merrill, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate purchasers. He also expects that these technologies would allow buyers and sellers of real estate to work faster than ever before.
Other industry experts believe that technology will disrupt many more real estate investing practices. In the near future, according to Dominique Burgauer, CEO of Archilogic, “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 become homebuyers, they will not “tolerate the industry as it is today.” The demand for online services will only expand in the next years, forcing property investors, landlords, and other market participants to go online.
Alternatively, Adena Hefets, co-founder and chief executive officer of Divvy Homes, says that innovation has already pushed real estate investing in new and interesting areas, and that this trend will continue. 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
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 keep up with the latest technological advancements. You may surely keep ahead of big market shifts and continue to maximize the potential of each property by employing 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. The option is to employ a reputable management company, such as Real Property Management Longhorn, to assist you with the transition. 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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