For good reason, the future of the real estate market is always a hot issue of debate. Market fluctuations have the potential to make or break a rental property investor’s portfolio. It is essential to keep up with what industry specialists say regarding the future of real estate. This article looks at several expert forecasts regarding the future of real estate. We’ll also look at how Pelham property managers and investors might gain from these developments.
What the experts are saying
Than Merrill, CEO of FortuneBuilder and a real estate investor, acknowledges the impact of technology on the real estate industry. As reported by Merrill, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for those in the real estate business. He is also convinced that these innovations will assist real estate buyers and sellers to work more rapidly than ever before.
Similarly, many more real estate investing traditions are expected to be disrupted by technology, according to market experts. Dominique Burgauer, 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 thinks that as more Millennials enter the housing market, they will no longer “tolerate the industry as it is today.” The need for online services will only increase, forcing property investors, landlords, and 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, 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
With real estate experts predicting that technology will have a significant impact on the future of rental property investing, it seems smart for owners to pay attention. It is more important than ever to stay abreast of the latest technological developments. You can keep ahead of major market shifts and maximize the potential of each property by utilizing cutting-edge technologies.
Simultaneously, evaluating each new real estate technology tool as it becomes available and determining the best course of action can be time-consuming. The best option for you is to employ a reputable management firm such as Real Property Management Victory to help 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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