Technology is taking over the world. This has probably been the most common phrase since the turn of the century. However, it is true, and the real estate market is experiencing huge changes due to technology. These are some of the technology trends to watch out for in real estate in 2019.
Transparency has been and continues to be one of the most critical issues in real estate. Although reputable firms like Sun West Mortgage are proving people wrong by doing clean deals, not every industry player does. The blockchain technology is based on distributed ledgers that show all transaction records about the buy and sell of a property. This will help to know who owned what at which point in time.
Real estate financiers like Sun West Mortgage depend on people’s data to come up with affordable mortgage plans. The use of data science and big data, in general, will enhance this. Financiers will be able to know how much they can lend to a person based on their previous transactions. This will also help in the development of affordable housing projects.
Technology is set to remedy the two most critical issues in real estate. In 2019, transparency will be a key determiner in most transactions. The use of data science and blockchain will make this possible.