The future of the real estate industry is always a popular discussion. Market fluctuations have the potential to make or break a rental property investor’s portfolio. That’s why it’s crucial to keep up with what industry experts have to say about the future of real estate. This article examines several professional real estate forecasts. We will also explore how Winooski property managers and investors might profit from these innovations.
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.
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 increase, forcing property investors, landlords, and a variety of other market participants to go online.
Another view from Adena Hefets, co-founder and CEO of Divvy Homes, points out how innovation has already revolutionized real estate investing and will continue to push it in new and interesting directions. 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
In light of the consensus among real estate market experts regarding the impact technology will have on the future of rental property investing, it would seem smart for property owners to pay attention. It is more crucial than ever to keep up with the latest technological advancements. Using cutting-edge technology, you can anticipate big market shifts and maximize the potential of any property.
In addition, it can be time-consuming to evaluate each new real estate technology tool as it is introduced and choose the optimal course of action. The option is to employ a reputable management company, such as Real Property Management Sterling, 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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