As we head into 2023, our eyes are on the real estate sector as new technological advances emerge. In recent years, the industry has undergone some turbulence due to changes in how we buy and sell properties, all necessary to remain competitive in a rapidly changing market. There’s no doubt that technology has greatly impacted the real estate, architecture, and construction industries and the way people conduct transactions.
As a means to assist the industry in growing and succeeding, technology will continue to be utilized. The following are our predictions for real estate technologies and trends in the coming year.
Virtual and Augmented Reality
In recent years, virtual (VR) and augmented reality (AR) have become more prevalent in real estate and architecture, speeding up sales significantly. If anything, VR and AR will only continue to grow in popularity and use. With hectic lifestyles and limited accessibility, these technologies make buying and selling homes easier and faster.
Data analytics is already widely used for a variety of purposes, including sourcing and analyzing data, identifying prospective buyers and sellers, developing marketing campaigns, and determining sale prices. Artificial intelligence (AI) is predicted to further accelerate the trend in 2023, continuing its upward shift. With the focus on predictive analytics, decision-making could be faster than ever before. Agents, architects, sellers, and builders can use predictive analysis of data to have a better understanding of and provide better service to clients.
Anticipatory design is widely used in the travel, automotive, and entertainment industries to anticipate consumer needs and personalize their experiences. In the real estate, architecture, and building sectors, machine learning technology predicts what buyers want out of their homes according to factors such as age, career goals, or family life. By anticipating client needs, anticipatory design simplifies processes and provides them with options before they even have the chance to express them. As a result of simplifying the sales process, this technology speeds up sales cycles and encourages clients to invest time into the design or purchase process.
In the upcoming year, digital journeys could be used to optimize client experiences and save time by reducing the amount of time needed to fill out forms and paperwork. With this technology, documents can be tracked and transferred easily. Moreover, digital journeys have the potential to simplify processes such as scheduling appointments, follow-ups, quotes, contracts, and even the signing of documents.
IoT (Internet of Things)
The internet of things, or IoT, refers to normal physical items being connected to the internet, thus creating smart devices and objects. Our lives have been impacted by a rapid increase in smart devices and new gadgets in recent years. We are seeing IoT technologies used more and more in real estate to communicate better and in architectural design and construction to make homes more appealing to buyers. The technology serves a variety of purposes, such as minimizing maintenance costs or increasing security measures.
Looking Towards the Future
It’s clear that technology will continue to play a key role in real estate and similar sectors in the coming year. In this era of digitalization, staying ahead of the curve requires staying current with advancements and adopting them as soon as possible. A promising year is ahead for real estate technology.
About d3 creative studio
d3 creative studio specializes in creating virtual reality, real-time 3D visualization & interactive solutions for the architecture and real estate development industries.
Our goal is to make every project we complete a new centerpiece for our portfolio; showcasing your project and our skills as a 3D studio.
Not in architecture? We create solutions far beyond home building. Let us take your project to new heights. Contact us today to learn more.