I’m no Nostradamus, but I’d like to take a stab at what the world of real estate transactions might look like in the year 2025. Yes, it’s only six or so years away, but with the speed at which technology is changing our world, to make predictions any further in the future would be purely speculation. I do like to think about what the future of our industry might look like because it gives us the ability to remain nimble and keeps us aware of trends and changes in the real estate world so we can adapt. Anyone who thinks that real estate transactions are immune to technology and shifting consumer trends will likely find themselves in a different line of work in the not-so-distant future.I see homes in the future being listed not with a couple dozen still photos and a short description, but on a platform developed to immerse the buyer in a 3D environment where they are able to read reviews and comments on a property by anyone who has seen the property physically. Perhaps pre-loaded inspections and repair estimates included in the platform would remove the classically intensely uncomfortable period of requesting and negotiating repairs. How about links to service providers and anticipated maintenance schedules? Everything a prospective homeowner would need to know to make an informed buying decision.
The key here is information — and transmitting it quickly. People expect more and more information and to have to expend less effort to get it. They expect to have even their biggest purchases secured with a money-back guarantee or a trial period. It isn’t too much of a stretch to think that real estate technology that mirrors these expectations would create a new world where the traditional agent transaction is just that — traditional.
Forbes Real Estate
By: Stephanie Betters