There is currently a tech tool or solution for every stage of a real estate transaction, from marketing and advertising to listing and closing. Although it may seem confusing, technology can be extremely beneficial if used correctly for your business. If your real estate business feels overwhelmed by too many separate tech tools, sometimes it helps to find platforms that can offer single solutions to your specific needs.

Some of your tech tools might involve recurring costs or fees, in which case businesses would save money by consolidating. Another benefit to consolidation is to have data pass smoothly from one system to another. It makes sense to have a platform that covers your core tech while also plugging into other systems.

However, since the best solutions are customized to take into account the agent, the team, and the broker, there are tech tools that might not be all-purpose, but can still be beneficial. Technology is going to take consumer engagement to another level and sometimes that means using more than one tool. Websites, for example, are no longer just online brochures. They must also be interactive, personal, and engaging. Earlier this year, Compass released Collections, “the Pinterest of Real Estate.” which provides a visual workspace for agents. AskDoss is a real estate portal that incorporates chatbot technology where users can speak aloud their real estate search in their natural voice and get accurate, easy and instant answers.

In addition, real estate technology is soon going to combine the physical world and the digital world, creating a reality that is interactive and intelligent and feels natural. This development will require research into a whole new family of tools. Amazon’s AR View already allows users to see how furniture will look in their home, and someday people will digitally “walk” through their future home using virtual reality.  

IoT is slowly turning homes into smart devices.  This transition will eventually impact real estate technology, for example a beacon inside a home might emit a signal, telling anyone nearby that there’s an open house. When someone is within range, their phone will pick up the signal.

Another stand-alone tool that uses computer vision and pattern recognition software is first.io. It offers predictive analytics on homeowners based on pictures or prior conversations or previous purchases. Companies armed with this knowledge may know a homeowner is going to sell even before they do.