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How Is New Technology Changing The Real Estate Market?

July 29, 2016

Technology in our modern world has the ability to quickly transform long-standing processes and traditions, including in the real estate industry. Nowadays, there are markets available online for people to buy, sell, rent, or even lease out commercial and residential real estate to the general public. Furthermore, particular pieces of technology have significantly impacted real estate markets throughout the world with their ability to help not only the real estate developers and brokers, but home and business owners as well.

For example, there are tons of useful websites which enable interested customers to look further into buying a particular piece of property they are keen on. These include online marketplaces that make it easier for people to visualize a property without having to physically visit each and every space that might be applicable to their search.

Take a look at any of our commercial property listings to get an idea of how the correct information and compelling imagery can be presented effectively to bring a space to live. This will save time, money, and stress.

Other websites, like Google Maps, have also enabled people to look further into buying a home by allowing a deeper look into surrounding neighborhoods to get a feel for what it’s like. Basically, the web in general has been a source of innovation in the real estate industry by increasing traffic to the online real estate market.

Top view of drone above city residential neighborhood
Another example of how technology is affecting the real estate industry is the increased usage of drones along with the development of wearable technology, 3D cameras and more – which has made a defining effect on the real estate industry already. Wearable technology and drones have been innovating real estate developers, brokers, buyers, and sellers for the past few years.

Drones are probably providing the greatest impact on the market currently. These flying devices can cost-effectively capture amazing images and provide pertinent information for the interested buyer. For instance, the use of drones have allowed Google to compile loads of in-depth images of every neighborhood, by simply just flying over an area. Also, there are companies launching with the sole service of helping realtors learn to pilot a drone to be able to view all that a property has to offer. Lastly, the invention of a 3D camera that allows virtual property walkthroughs while capturing correct measurements will not only allow people to visualize a property, but it will allow them to be able to distinguish how to decorate the space and more!

These new devices, and emerging technology in general, are creating more effective ways for people to buy and sell homes by providing information that can give everyone involved a better understanding and vision of a specific property. It’s true that technology has been changing the real estate industry at an alarmingly quick rate.

Realtors, brokers, developers, buyers, and sellers have all either had their jobs made simpler or it has taken away jobs from them, but the customer always benefits either way. When it comes time for you to think about buying or renting commercial property, be sure to make full use of all the amazing resources you have available to you – because there are a ton around to give you all the information you could possibly need.

And, if you are looking specifically for commercial property in South Florida, you must check out the available properties listed at Metro1.com – like these Metro1 Exclusives: Industrial, Retail, Land, Office, and more!  

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