New technology can fundamentally transform an industry. Just look at the process of real estate digital transformation. A couple of decades ago, listing a property online was a novelty, but these days, selling a house without an online listing is almost unthinkable.
In the coming year, we'll see proptech advancements that could similarly transform the real estate industry. Interested in learning more about how novel real estate technology could shake up the property sector? Read on to learn more about the future of property management.
Virtual Reality Tours
During the COVID-19 lockdowns, people couldn't visit properties in person. To keep the industry moving, realtors needed to come up with smart real estate solutions. Some property management companies started offering virtual reality tours, allowing clients to view properties without leaving the comfort of their homes.
While the COVID-19 lockdowns are long gone, VR tours have persisted. Sure, most people prefer in-person viewings, but virtual reality tours allow people to view far-away properties. While it won't become the preferred viewing method, expect to see higher-quality VR tours in 2025.
Enhanced Insight through AI
One of the most exciting developments in real estate technology is AI. Like in many other industries, it's clear AI is the future of property management.
For example, machine learning offers unprecedented insight into the real estate market. Property management is all about finding the right property for the client. The best real estate is a high-yield investment that also accommodates the purchaser's needs and lifestyle.
Often, finding the ideal listing is like finding a needle in a haystack. But, according to The New Stack that's exactly the kind of task machine learning excels at. For a human property manager, finding the ideal listing for a family could take days of diligent searching, but machine learning could find something suitable in seconds.
In 2025, expect to see more property management companies embracing AI.
Smarter Homes
Thanks to AI advancements, smart homes are getting much smarter. According to the constructor, effective property management means diligent maintenance and smart real estate systems will allow property managers to automate routine maintenance tasks.
For example, internet-connected sensors could alert management when:
- There's a leak
- The HVAC system has become less efficient
- The system detects pest activity
By alerting property managers to these issues early, there's still time to avoid expensive emergency repairs. In 2025, expect to see more real estate companies embracing smart home technology. The development might also be driven forward by deeper integration of smart technology and AI.
Embrace the Latest Real Estate Technology
When society started adopting the internet, companies that embraced it were rewarded with increased efficiency and greater profits. Those who didn't adapt to the World Wide Web were left behind. When choosing a property management company,
in 2025, you should look for property managers who understand the importance of real estate technology.
Here at PMI West Michigan, we pride ourselves on our industry knowledge. With the financial backing of a successful national franchise, we're always experimenting with the latest real estate solutions to maximize our client's investment returns.
Are you interested in learning more about our real estate management services? Contact us today, and let's discuss your needs.
