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It is not surprising to see the amount of fields that have benefited from continued advances in technology. While these advances have drastically changed how businesses function, it should be investigated what kind of impact it is having on the real estate field. With this in mind, it is important to explore some of the advances in technology that have had a direct influence on how real estate functions.

Virtual Reality
While most people have heard about virtual reality, they may not have a full understanding of what it truly is. Virtual reality is defined by Merriam-Webster as an artificial environment provided by a computer that can experienced through things like sight and sound. In other words, virtual reality can allow a person to experience a space without physically setting foot in it.

For realtors, virtual reality is an immensely useful tool when selling a home. For homebuyers, the act of physically seeing every property they view online can make the process a long and drawn-out process. When realtors incorporate virtual reality into their strategy, they allow potential buyers to take a virtual tour to determine if they would like to see it in person. Using virtual reality strategies can not only reduce the amount of time that a realtor spends showing homes, but it can help eliminate unnecessary showings, since homebuyers can see a house online first.

Geo and Social Media Advertising
With continuous advances in technology, specifically with social media, has allowed realtors around the nation become more involved in their advertising efforts. Through the geo and social media advertising, realtors can have advertisements pop up on homebuyers’ accounts that are in direct relation to other homes they have looked at. With this feature, realtors can increase their ability to find the perfect homebuyer for the property and its location.

Like real estate, technology continues to have a heavy influence on nearly all industries. In addition, technology can make it easier and more efficient way to find a home while reducing the hassle of the search itself. As we continue to progress, so will the technology that is used to make our different industries more efficient, making it more important than ever to know about what is coming next.