The real estate industry is undergoing significant changes these past years courtesy of innovative ideas and groundbreaking technology from visionary entrepreneurs. With the industry being reshaped for the future, many investors are considering the jump to real estate investing. But is the sector indeed ripe from impressive gains?
Rapid technological advancements like cloud-based systems, blockchain, and revolutionary devices are keeping the real estate industry afloat. This could be a good opportunity for portfolio expansion, but of course, it would be crucial to first listen to experts for their take on the industry.
In a statement to Forbes, Roger Blankenship of Flipping America says that it would be best to remove the less effective technologies first. Early adopters are expected to pick up these innovations, but in a matter of months or years, there will be better versions of the new tech. It would be safer to jump in on real estate investing by then as the innovations will have a larger impact on the market.
Additionally, investors are able to not only support the real estate industry but also get behind the growth of the technology companies are adopting. For instance, investors who add real estate stocks that adopted blockchain to their portfolios can invest in the booming technology as well.
Aside from the investors, companies deep in the industry will benefit from the use of technology in real estate. At its core, new technologies and innovations are developed to streamline many processes. Through the introduction of these concepts, companies can improve their quality of product or service, which could translate to better revenues later on.
It goes without saying that companies should be wary when it comes to adopting technology as it will not always be a successful venture. First and foremost, they should understand that automation can never replace manpower. According to Elizabeth Ann Stribling-Kivlan from Stribling, properties such as homes are emotional commodities. There will be no algorithm that can emulate the human emotion, and as such, manpower will always be a crucial part of the industry. Even the revolutionary blockchain technology doesn’t aim to remove the middlemen between real estate-related transactions.
Blockchain has a ton of benefits for the industry, but the most immediate advantage the real estate sector can get is that it can make transactions faster and safer. In time, buying properties would be as easy as a few clicks. Because of its potential, blockchain remains to be one of the technologies that real estate companies are keeping a close eye on. After all, Day Realty Group’s Angela Yaun says that if a company continue to introduce new technologies in their services, clients will think that it is dedicated to improving the efficiency and competence of the services it provides.
Real estate and blockchain through RESAAS
Following the footsteps of various companies in other industries, RESAAS Services Inc. (TSXV:RSS, OTCMKTS:RSASF) has decided to improve its service by adopting the underlying technology for cryptos, blockchain.
The company acquired Real-Block Inc., and along with the acquisition is an Ethereum-based technology that could help power up RESAAS’ already impressive social platform for real estate. By partnering with an established brand in the blockchain industry, RESAAS has secured a great future ahead of it.
With a member base of over 360,000 across 90 countries, RESAAS’ unique social platform connects brokers, multiple listing services, property owners and more. The upgrade is set to arrive anytime this month. Once it is set in stone, its members can expect faster and safer transactions. As an added bonus, RESAAS is expected to add more blockchain-based features months after the launch of its upgraded platform.
RESAAS has two goals ahead of it. The first is that it wants to become the avenue for transactions in the real estate industry. With a large user base that also grows by the hour, this goal could very well be achieved in the next couple of months.
Its second goal is to increase its revenue for fiscal 2018, and since RESAAS is already coming off of an amazing fiscal 2017 performance and a recent announcement of reaching record revenue in the first quarter of 2018 thanks to new clients, the company can have a great chance of achieving such target. Looking ahead, it will be exciting to see how the company uses this momentum to its advantage.
Real estate technology benefits everyone in the chain — from the companies to the investors and clients. There is more to come for the industry as more developers and entrepreneurs try to reshape real estate with their own ideas and innovations.