Real Estate Tech Development: 3 Examples of High-Stakes Digital Tools

Real estate makes up 13 percent of the Gross Domestic Product (GDP) of the United States, and as such, it has become increasingly attractive to technology firms. What does this mean for investors? In short, big opportunities. Inventors in technology as well as innovative venture capitalists invested about $5.2 billion in real estate tech in 2018. With so much at stake and so much to gain, real estate technology is big business. Here are three examples of technological tools Realtors and property developers are using right now to drive sales, and why these programs are attractive to investors.

Matterport

This media technology company has created one of the most advanced programs available for 3D real-world locations, making it easy for Realtors to make, analyze, and share 3D files with colleagues and potential buyers. The company’s huge library of about half a million actual spaces ties it in with the advancement of Artificial Intelligence. This technology is set to drive property sales and development through complex vision-based programs. Experienced real estate developers such as Roger Osteen Jacksonville value the latest advancements such as Matterport because they make achieving ideas of what the future can be easier.

What makes it an attractive investment: Investors like Matterport because it is continually tying itself to the bleeding edge of Al-focused development for the next generation of real estate sales tools featuring 3D technology.

Periscope

Realtors who have buyers in distant places no longer are hampered in promoting property sales, thanks to Periscope. Available for iOS platforms with an Android version soon to come, this clever app allows live video feeds to be streamed to anyone from a Smartphone. Realtors can use this program to send a virtual house tour to distant buyers who cannot easily see a property in person. This digital tool also is a boon to property developers who can expand the possibilities for planned communities without being limited to specific local markets.

Why it is attractive to investors: Periscope has limped along in recent years, losing some popularity as a strictly recreational toy, but it has good potential for professional uses, including broadcasting during athletic events and in industries such as real estate.

HelloSign

Busy professionals in real estate and many other industries can save time and effort by using this progressive program to acquire digital signatures. Driving across town in busy traffic to meet with clients or asking them to carve out time for reviewing and signing documents during business hours is a thing of the past. HelloSign lets clients electronically sign documents quickly and easily, and the signatures are legally binding. No matter where clients or colleagues are in the world, business transactions can be quick and easy with this platform. This expanding technology has numerous applications that ripple outwards in the real estate industry and the larger business world, from Realtors working with individual clients to forward-thinking developers such as Jacksonville’s Roger Osteen to corporate managers in all fields who want to use their time as efficiently as possible.

Why investors like it: HelloSign has connections in high places. It is popular with global companies and services, including Samsung, Twitter, StackExchange, Intuit Workforce, Lyft, and Instacart. The company’s partners include Oracle, TekStream, and RelationEdge.

An Industry in Transformation

Technology is changing the way we live now, and it is certainly driving evolution in the field of real estate and property development. As with any surviving field, real estate has changed with the times and embraced advances in technology. As the individual practices of Realtors have evolved due to sophisticated programs, so have the practices and procedures of large property developers. Investors are paying attention to the technologies changing the hugely profitable real estate industry, and the future looks bright for particular applications of the most advanced tech today.

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