Real estate, like many other industries in the 21st century, has been deeply changed by the advent of smart technology. The industry uses many types of technology, from the smartphones in every broker’s pocket to lead generation to a whole section of the market, commonly called PropTech, that encompasses tech startups, some of which are meant to aid real estate industry professionals and others that some believe could replace them.

Technology Q&A

How has technology impacted the real estate industry?
In some ways, technology has made the real estate industry more streamlined. Out with Rolodexes, in with iPhones. Real estate technology can built specifically to aid processes like finding apartments, or loans, or new clients. But real estate is influenced by tech that isn’t specifically made for the industry too. Big Tech companies are clients for the savviest brokers, taking up huge office spaces in major cities and driving new development, all while innovating new communication, transportation, construction and smart home technology.
What kinds of technology are specific to the real estate industry?
Real estate technology is a wide umbrella that encompasses many companies that do very different things. Tech has changed the way real estate agents communicate with each other and to clients. It’s allowed firms to become web-enabled, listing and even buying, selling and renting space online. This ability has allowed for the advent of co-working, now a major factor in the real estate market. Homes are up for purchase today on iBuyer sites. Insurance is for sale online too. Some tech allows for deep data analysis that creates home valuation, predicts sales and trends, and more. New innovations continue to shape the market every day.
Who in real estate is influenced by technology?
Nearly every modern member of the real estate industry is influenced by technology. Early real estate tech innovators launched back-end listing systems in the 1990’s, taking listings from newspapers to the net. Today there are a huge variety of firms creating all different types of technology, and many of the biggest firms have solidified partnerships with proptech companies in order to best utilize new resources.
Want to know more about tech in the real estate world?
Check out our Top Stories below for TRD's most up-to-date coverage of tech and the real estate industry.

Technology Top Stories

August 23, 2019Gordon innovated back-end listings systems thirty years ago. Today's tech has more capability, but there's more competition, too.
August 23, 2019Here’s a map of all the Big Tech locations in NYC
July 19, 2019MetaProp’s Zach Aarons makes predictions on how proptech, or real estate technology, will change dealmaking and construction.

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