It’s no secret technology is reshaping the real estate landscape. But to date, most of these technologies have been out of reach for the average home seller. That's now beginning to change with some of the latest products to hit the market.
Up until recently, real estate seemed stuck in outmoded and old school ways of doing business. It's still a very regional or local business in many ways. But technology has been making inroads and we'll explore 4 of the coolest and latest trends.
1. Augmented Reality
With augmented reality, you can find out about a property by pointing your phone's camera at the house. For a prospective buyer, it's a great way to learn about properties that are and are not on the market currently. Point, click and find out what you need to know.
You can see details about the house such as the listing or rental price. It also provides current valuation estimates and the last sold price data. Using augmented reality you will be able to find out how many bedrooms and baths the house has as well.
Upcoming features in virtual tours of properties will include augmented reality as well. Agents will be able to add notes and highlight key features of a property.
2. Virtual Reality
Don't have time to run around looking at a dozen houses at a time? Rather than getting a headache, let virtual reality make it easy for you. While still in the early days, virtual reality property tours are becoming popular.
Once only visible using photos or 360 videos, companies are now able to offer clients a 3D virtual tour. You can use your phone, tablet, computer or a virtual reality headset to view a home in a matter of minutes. This is a simple way to reduce the number of home walkthroughs that a buyer has to do.
Drones are one of the latest technologies to hit the real estate world. Companies like HomeJab are making innovative, investor-grade technologies accessible to the average home seller.
With the use of a drone, a seller can create on-demand real estate photos, including videos of a property. It's becoming increasingly common to see video footage of a property from above. The video showcases the property as well as neighboring properties. This enables buyers to gain a better understanding of the area without leaving home.
4. Virtual Staging
Is your home vacant and taking longer to sell than you had hoped? Talk with your realtor about virtual staging. All buyers want to see homes in a way that speaks to them. That includes furnishings and fixtures.
Virtual staging can take the blank slate of a vacant home and fill it with furniture and fixtures. Virtual reality does this by using the digital photos of the property. Then you can insert furniture, rugs and fixtures onto the images. You can even change the color of walls, flooring and change out the appliances.
From a budget standpoint, virtual staging is far less expensive. Actually staging a home can range in costs, up to $1,000 a month plus initial fees for setting it up. Virtual staging averages a one-time fee of $200 to $400, which is a marked savings. Major marketing help at a lower cost.
While the real estate market is slow to catch on to many technological changes, it appears that these four trends are quickly gaining in popularity with buyers, sellers, and real estate agents. As technology continues to improve, you can expect to see an increase in use of these applications.