For good reason, the future of the real estate market is always a hot issue of debate. Changes in the market can make or break a portfolio of rental property investors. It is crucial to keep up with what industry experts say about the future of the real estate market. This article examines various expert forecasts regarding the future of real estate. We will also investigate how Winston-Salem property managers and investors might profit from these developments.
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. Merrill says, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate consumers. 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. 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 expects that as more Millennials enter the housing market, 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.
Looking at it another way, Adena Hefets, co-founder and CEO of Divvy Homes, observes that innovation has already pushed real estate investing in new and interesting areas, and will continue to do so. 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. Now, more than ever, it is crucial to be current with the most recent technological advances. Using cutting-edge technology, you can anticipate big market shifts and maximize the potential of any property.
Simultaneously, evaluating each new real estate technology tool as it becomes available and determining the best course of action can be time-consuming. An alternative can be to hire a reputable management company, such as Real Property Management of the Triad, to help you navigate 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.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.