Through the years, technology has proven itself to be of great help to all humans and business industries, including the real estate. This great contribution of technology to real estate blooms a special affair between the tech and real estate, a 'romance,' as it were.
The Real Deal shows how technology has been very useful to real estate firms, for example, the listings portal such as StreetEasy, LoopNet and DotLoop, among others, which provide an online system for handling paperwork associated with real estate transactions, and made the data accessible to New Yorkers.
While these tech benefits have been constantly enjoyed by real estate firms, they still clamor for new technology, believing that technology is a race and this shouldn't be left out.
Co-founder of Trinity, a pioneer in funding the real estate sector, Noel Fenton, said that commercial and residential firms are rushing in upgrading to new technologies for fear that they might be left behind. Reports from The Real Deal say that real estate professionals and companies seek to find effective tech tools to help them transact faster, in hopes of competing with rivals. The report adds that creating new technologies enable real estate firms to better quantify their performance and that of their investors.
Having known how the real estate values technology can move us to say that both have a strong business relationship, considering also how tech companies have earned millions by partnering with real estate firms.
Bill Raveis, head of the suburban residential brokerage William Raveis, said via New York Real Estate News, that the company he founded in 1974 should be considered a real estate that has marketing and technology firm in one. He also shared that recently, the company has just spent $1 million to establish a 25-person team to work on technology and digital marketing only. The company is even willing to spend $1.5 million this 2016 for technology and digital marketing, which definitely, is good news to tech companies.
Technology, being the most sought-after in the real estate world, has all the more shown the world how compatible and romantic its relationship with the real estate. Now, isn't theirs the best of all romances?
