The real estate industry’s future is always a hot topic of discussion, and with good reason. Market fluctuations can make or ruin an investor’s rental property portfolio. That’s why it’s critical to keep up with what industry experts have to say about the future of real estate. This article explores various expert opinions regarding the future of real estate. We’ll also look at how Hoffman Estates property managers and investors might gain from these developments.
What the experts are saying
Than Merrill, CEO of FortuneBuilder and a real estate investor, sees the impact of technology on the real estate business. As reported by Merrill, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for those in the real estate business. He also thinks that these technologies will enable buyers and sellers of real estate to work more quickly than before.
Similarly, many more real estate investing traditions are expected to be disrupted by technology, according to other market specialists. Dominique Burgauer, the CEO of Archilogic, predicts that in the 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 homebuying market, they will not “tolerate the industry as it is today.” The demand for online services will only increase, forcing property investors, landlords, and a variety of other market participants to go online.
Alternatively, Adena Hefets, co-founder and chief executive officer of Divvy Homes, says that innovation has already pushed real estate investing in new and interesting areas, and that this trend will continue. According to Hefets, this invention “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
Since real estate experts predict that technology will have a huge effect on the future of rental property investing, it seems smart for owners to pay strict attention. It is more important than ever to stay abreast of the latest technological developments. You may remain ahead of major market shifts and continue to maximize the potential of each property by utilizing cutting-edge technologies.
However, it can be time-consuming to evaluate each newly released real estate technology solution and select the optimal course of action. The option is to employ a reputable management company, such as Real Property Management Northwest Chicago Suburbs, to assist you with the transition. 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.
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