There was once a time when an estate agent would stick a “For Sale” sign outside your house and let it do its magic. It was then a case of waiting people to drive past and see it, or for news of its sale to spread by word of mouth.

Thankfully, those days are long gone. Technology has permeated the real estate market, and it’s changing the game in loads of amazing new ways. From virtual tours to the inclusion of blockchain, there are some cool innovations improving the industry.

Virtual Tours Market Homes to a Wider Audience

One of the best advancements in recent times has been the rise of virtual tours. The fact that you can look around a home via a video link means that it’s much easier to check out places that are further afield. In the past, you would have had to drive for hours to view these properties, and it felt like a waste of time if you didn’t end up buying.

The rise of online services that deal with house sales has also improved things for people who want to sell up. In those dark and primitive times before the internet, you would have had to use your local estate agent if you wanted to sell up. Nowadays, you can go through online estate agents, who can save you a lot of time and money. They allow you to set your timeframe and financial goals, and then they aim to work within these parameters.

Artificial Intelligence: Enhancing Decision-Making

Artificial intelligence is gradually taking over the world, but hopefully not in an apocalyptic science fiction disaster film sense. Instead, it is breaking into every industry and making things better. This is the case in real estate, where investors and agents are able to harness its power to analyse vast amounts of data. This means that it’s easier to identify trends and predict market fluctuations.

AI-powered chatbots have also stepped up in recent times, acting as the first point of contact for customers on real estate websites. These can ask key questions to figure out exactly what someone wants, and then put them in touch with the right agent for the job.

Blockchain Technology: Ensuring Transparency and Security

You may have heard of blockchain as the technology behind Bitcoin, but it can also be applied in a range of other places. The system is set to have an impact in real estate, as it will help to ensure transparency in property transactions.

Currently, house sales involved numerous intermediaries, and this can lead to inefficiencies and even the risk of fraud. Blockchain eliminates the need for these intermediaries, as it creates a decentralised ledger that securely records all transactions. This also comes with enhanced security, as nothing on the blockchain can be altered or deleted.

There are countless ways that technology is upgrading the real estate market, making it easier than ever for people to buy and sell houses. This is just one of many industries that have embraced technology for the better.