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06.06.2024
Key Real Estate Technology Trends in 2024
The property management software market is projected to grow at a rate of 13.1% per year. Revenues are expected to reach $4.38 billion by 2023 and exceed $15 billion by 2033.
The real estate industry is moving online, with more services provided digitally. Companies undergoing digital transformation face increasing competition. Implementing advanced software solutions helps maintain competitiveness. Here are five key technology trends in real estate.
Virtual Reality
Technologies that allow property demonstrations without physical presence have been used by developers and agencies for years. Virtual tours have become standard in real estate marketing. For example, Sotheby's Realty successfully uses 3D tours to showcase luxury properties, significantly saving time and effort for all parties. A site promotion agency can help implement these technologies to boost sales.
AI-Enhanced Analytics
Artificial Intelligence (AI) speeds up business tasks: from database formation to marketing research. AI is actively used to assess property values and predict prices. For instance, AI technologies are employed to automate call centers and evaluate property values in the US. A website development agency can integrate AI into your business to optimize processes.
Process Optimization
Optimization is achieved through task automation and digitalization. An example is Zillow, which earned $1.96 billion in 2022. Building Management Systems (BMS) control physical parameters like temperature and security. A full-cycle landing page creation service can automate many tasks and enhance business efficiency.
Fractional Ownership
Fractional ownership is gaining popularity thanks to digital technologies. Platforms like Luxury Shares allow investors to buy shares in luxury properties in the US. A web development studio can help create similar platforms for your business.
The Metaverse
Real estate in the metaverse is becoming increasingly popular. Virtual properties provide the same ownership rights as real ones. Platforms like Decentraland allow users to buy, sell, and develop land. This trend attracts new audiences and increases revenue.
Modern technologies continue to develop the real estate market, making processes more transparent and efficient. Companies implementing digital solutions reduce costs and enhance their competitiveness. These trends will only strengthen in the coming years.
WebMedia offers a wide range of services for digital transformation. A web development studio can help you implement advanced technologies like AI and virtual reality to improve efficiency and attract customers. Order internet store creation services or full-cycle landing page creation to stay ahead of technology trends.
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