The real estate tech sector is being shaped by shifting market conditions and changes in consumer behaviors. Every year, my company tracks and analyzes emerging trends in real estate tech to better understand technology’s impact on the industry. The purpose is to help prepare real estate professionals and organizations for the future by collecting, assessing and reporting the trends that will most impact them.
For the past decade, emerging technology companies that focus on commercial and residential real estate products and services have moved quickly, forcing traditional real estate firms to rethink their core business models and embrace digital first innovations. But as the real estate tech sector begins showing signs of maturity, companies wondering how they will fit into this new era must understand the forces that are leading change.
While the industry will undoubtedly continue to expand as investor appetite remains tenacious and its customer base grows, changes are imminent. The very concept of what comprises real estate tech will shift. As the industry evolves, it will play a role well beyond real estate products and services, individual companies will vie to become undisputed leaders by size and breadth and ecosystems will develop that have a tight grip on customer loyalty.
As technology and innovation continue to hold the key to reshaping the real estate industry, emerging real estate tech companies are creating an opportunity to weave themselves into the new digital real estate ecosystem. What’s the next step forward? Use the power of technology to improve the real estate industry.
The purpose is to help prepare real estate companies and organizations for the future by collecting, assessing and reporting the trends that will most impact them. These trends are based on quantitative and qualitative data including conversations with executives and thought leaders.
Here are the most important real estate tech trends to watch for in 2018.