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7 New Technologies to Dominate the Real Estate Industry In 2023

kelowna real estate agent

Just like the domination of technology in different spheres of life, real estate is no exception. With a gamut of activities in this segment, from construction to financing, real estate is likely to be shaped by emerging technologies in 2023. The past 30 years have witnessed a sea of changes in the real estate industry, but there are likely to be bigger changes to influence the development. It’s not new though! We have seen technology making homes smarter and decisions more defined in the past.

A lot needs to be watched in 2023 as well as the industry is slated for a major digital reformation. Every Kelowna real estate agent will feel its impact as well.

So, here are the tech trends that you are likely to witness in the real estate industry.

Tech trends shaping the real estate industry

Virtual reality

The use of VR is not new exactly but the usage of these technologies will surely accelerate after the pandemic. While the lockdown aggravated the ease of exploring land and houses through AR and VR, several companies have realised its benefits even after the pandemic. Buyers searching for luxury homes for sale can now resort to property tours virtually at the initial stage and zero in on the options quickly. Compared to traditional property viewing methods, the tech-based home vowing method is undoubtedly more appalling. It gives a feel of the atmosphere more effortlessly.

Smart construction techniques

Home construction has also been a part of various tech innovations in recent years and the trend is here to stay in 2023 as well. What are the consequences of using technology during home construction? The newer buildings have become resilient to fire, natural calamities, and floods. Moreover, construction will be much cheaper and way faster. If you are in for sustainable homes, figure out the latest trends like green roofs and green construction to encourage a healthy lifestyle.

Use of metaverse

One of the biggest technology trends that you might see as coming in 2023 is the metaverse. Feeling clueless and wondering what it may mean for people trying to invest in Okanagan homes for sale? Although tech trends have already become a part of the real estate industry, many people are yet to become aware of them and find the techniques rather confusing. Don’t worry! You are not alone. That may be another reason why every investor needs to step in casually. If you are an investor, the metaverse is an excellent tool for those looking forward to segmenting their portfolio. Make sure you don’t shift your focus entirely to physical or virtual properties.

Revving up user experience

No longer can today’s realtors apply the push effect to persuade the clients and let it spread through word-of-mouth. With data analytics, realtors and listing agents gain a deeper understanding of customers’ expectations, buying tendencies, and interactions. Therefore, companies can now push their sales to the target group instead of straying around with scattered customers who may or may not buy.

Using 3D models

The new-age investors are more knowledgeable and are bent on living in homes that are CO2 neutral. Apart from this, construction companies are in talks with tech service providers to leverage 3D models for making homes more innovative and flexible. Naturally, Kelowna luxury real estate companies will have to work harder to satisfy the clients.

Use of automation tools

The real estate industry has its share of challenges that include the completion of various resource-consuming jobs like client management, lead generation, and documentation. It’s time to take the call. The industry requires various automation tools that will streamline tasks. 2023 is the year for companies in this industry to initiate efficiency in the operations, work calendars, and reduction of workload and accomplish their goals easily.

Using mobile apps

Mobile apps are everywhere, so no second thoughts about why they should not be a part of the real estate industry as well. In what way will mobile applications help the real estate industry? To be honest, it will help realtors, renters, buyers, sellers, and every entity that is a part of the real estate industry. From calculating the home’s value based on locations to on-go searches, the apps do it all. Justin O’Connor Group makes home buying and selling an effortless experience with regular client interactions and implementation of the latest technologies. Real estate is one of the industries to thrive on innovation. While the tech trends help companies in this segment to counter the challenges, the new business models will add more value to this industry and provide more relevant solutions for Kelowna luxury real estate in 2023.

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