REAL ESTATE TECHNOLOGY
ADOPTION IN A POST
PANDEMIC WORLD
T
he effects of COVID-19 on the housing market are significant and will leave a long-term change in the way the industry operates. Although this change may be disruptive and uncomfortable for some, it triggered a rapid and widespread adoption of real estate technologies that we’ve never seen before. All real estate players such as agents and brokerages are now taking serious reconsiderations towards technological platforms, tools, and services they need to effectively run their businesses in the ever-changing market today. The growing need for technological innovation is now a requirement for businesses to survive and thrive, especially in the current unprecedented and volatile times. Agents have learned the aspect of leaning on technology’s power to stay afloat and focus on running their businesses. In recent years, we’ve seen sweeping changes such as the emergence of virtual brokerages, increased investments in operating system technologies, and catalyzation of remote working tools, driving innovation and reshaping the whole real estate landscape. As we step into 2021, the competitiveness in the broker business is growing rapidly more than ever, and reliance on real estate technology will determine those who will get through this successfully. However, to be truly and fully modernized and automated beyond the time-consuming and manual processes that have been holding down the real estate industry for ages, there’s a need to look beyond the trendy apps and the isolated point solutions. This next level of technological evolution in the real estate industry is about extending technology and automation to establish effectiveness across the whole process of buying and selling while driving growth simultaneously.
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THE POWER IS NOW MAGAZINE | FEBRUARY 2021
