As technology advances, it becomes more pertinent in new markets. Recently, the real estate market has seen an increase in new technology solutions that provide transparency and also incorporate more insight to assist individuals who are currently navigating the market or those who are hoping to get their feet wet. To ensure you stay up to date with the latest technological trends, here’s a list of four technologies and the ways in which they have become prominent and valuable to the real estate market.
Getting Started with Investor Tools
Investors can take advantage of tools developed by a Chicago-based startup. Using questions completed by the investor, the tools develop algorithms that help pull together preferable market deals for the investor. The investor then has the option to approach the deals as he or she chooses, either independently, or with other partners. Similar platforms continue to emerge nationwide, providing novice investors with the resources necessary to jump into real estate investing or providing experienced investors the resources to continue to invest more efficiently and intelligently.
Opportunities Through Real Estate Crowdfunding Platforms
With the development of crowdfunding platforms, any size investor—small or large—can benefit from visible, low-cost investments. Investors have the ability to choose from various asset classes and can invest in the assets for cheaper than they would typically be able to if they had originally gone in on an investment on their own. In addition to providing investors project opportunities, the platforms also enable investors to look more closely at summary reports and other data, such as crime risk data and professional industry trends.
Organization and Efficiency Through Electronic Portals
Prior to an increase in technology, the investment process was often bogged down by paperwork. As more documents become digitized, there has been an increase in portals that aid the paperwork process by managing documentation and transfer of documents. By providing document tracking, as well as electronic alternatives to signatures, these platforms streamline the process of real estate closings, making it more efficient and painless.
Optimization Through Machine Learning
With the development of Artificial Intelligence/machine learning, investors are able to use data analytics to receive more information regarding risk versus return and other financial factors. In addition to this, A.I. can provide better property recommendations for investors based on their previous portfolio selections. As the technology becomes more advanced, investors are able to continue to gain more access to valuable resources and evidence that will provide more educated solutions and assist in elevating their real estate experiences.
As technology continues to advance and become a valuable tool in the real estate market, experienced and novice investors alike will find their experiences in the market augmented.