The Adoption Of Tech In The Real Estate Industry

Jaycee Tenn
·2 min read

COVID-19 has had a massive impact on every industry in 2020. It has forced many to adapt and change practices that have been ingrained for years.

For the real estate market, like many others, this change resulted in a mass adoption of technology. Virtual tours have become increasingly popular and many are taking their home buying search online.

“COVID-19 is speeding up the mass adoption of technology in order to limit human interaction,” said President & COO of Guesty, Vered Schwarz to Forbes in a recent article. “We’ll see the real estate space increasingly implement tools like keyless entry systems, voice-activated appliances, etc. to minimize anything face-to-face or anything that requires physical touch. This also includes using automated messaging solutions to send emails noting amenities in-property, check-in instructions and more.”

In-Person To Online

The opinion on buying and selling real estate online has shifted as a result of COVID-19.

A new survey from Zillow Group Inc (NASDAQ: ZG) found that 36% of Americans stated that they would be more likely to buy a home entirely online, and 43% of respondents said they would be more likely to sell a home entirely online.

Online marketplaces already exist and some have been connecting buyers and sellers online with real estate property for years. Roofstock, which specializes in single-family rental properties, has been ahead of the tech curve when it launched its marketplace in March 2016.

As a newer concept, buying rental property online may seem a bit intimidating. Addressing this hesitation, Roofstock ensures buyer confidence by carefully vetting all of their rental properties before listing them on their site. They also provide any relevant information and visuals you would need to see regarding the property. This includes pictures, floor plans, 3-D tours, 3-D model, property inspection & valuation, title report, interactive tools for visualizing return and cost estimates, neighborhood rating, local school scores and more.

You can view all of Roofstock’s active listings without needing to sign up for anything, and can narrow down your search by location.

As the industry continues to adopt more tech practices it will be interesting to see where the state of online buying and selling trends as well as how in-person buying changes to limit human interaction.

Browse Roofstock’s active listing here.

Read more about Roofstock:
Roofstock Review

Photo by Brian Babb on Unsplash

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