For good reason, the future of the real estate market is always a hot issue of debate. A rental property investor’s portfolio can be made or broken by market fluctuations. That’s why it’s crucial to keep up with what real estate experts have to say about the future of the industry. This article examines various expert forecasts regarding the future of real estate. We’ll also look at how Airway Heights property managers and investors might take advantage of these trends.
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. Merrill says, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate consumers. He is also convinced that these innovations will assist real estate buyers and sellers to work more rapidly than ever before.
Other industry experts believe that technology will disrupt many more real estate investing practices. Dominique Burgauer, CEO of Archilogic, predicts that in the not-too-distant 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 expand in the next years, forcing property investors, landlords, and other market participants to go online.
On the other hand, Adena Hefets, co-founder and CEO of Divvy Homes, observes how innovation has already revolutionized real estate investing and will continue to carry it in new and interesting directions. This innovation, according to Hefets, “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
It appears wise for owners to pay attention to the influence technology will have on the future of rental property investing, given that real estate market professionals have all noted the impact technology will have on the future of rental property investing. It’s more vital than ever to keep up with the latest technological advances. You can keep ahead of major market shifts and maximize the potential of each property by utilizing cutting-edge technologies.
Likewise, assessing each new real estate technology as it becomes available and deciding the best course of action can be time-consuming. An alternative can be to hire a reputable management company, such as Real Property Management Spokane County, to help you navigate the changes. 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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