Tech Guide 2023: A new direction in technology

Looking for the next big thing in tech? Start here 

From AI’s impact on real estate transactions to homeownership solutions, these emerging trends and ideas offer a glimpse at the future of real estate.

December 30, 2023
4 minutes

Editor's note: The T3 Tech Guide, now in its third edition, provides in-depth research and analysis to help leaders understand the forces shaping residential real estate. This exclusive series of excerpts highlights takeaways from the latest Tech Guide, which was released in October 2023.

Concepts to watch: Whether you're a brokerage leader, agent, tech vendor or investor, these technological and business ideas can serve as a catalyst for wise investments and future innovations. This excerpt provides a look at 10 concepts that have the potential to revolutionize the industry in ways we are only beginning to comprehend.

A critical part of understanding the real estate technology ecosystem lies in identifying the nascent ideas poised to become the next big things.

These "10 Concepts to Watch" aren't just technology trends; they represent shifts in consumer expectations, regulatory landscapes, and market dynamics. Consider how they may align with or disrupt your current operations, and how they could be leveraged to gain a competitive advantage in an ever-changing industry.

Note: The following list is provided alphabetically.

AI in real estate

Artificial intelligence has exploded, and nearly every tech company is looking for ways to inject it into their products and services. AI is being applied to every part of the real estate transaction, with promising early results in communications, image recognition, advertising generation and compliance.

Buyer agent value

With lawsuits and changes underway in real estate, the activities that agents undertake in buyer representation and working with clients have entered the spotlight. The tech companies who find ways to support different needs and emerging strategies related to showing the value of an agent to consumers, will see results.

Digital and cyber security

Real estate is especially vulnerable to phishing, spoofing and ransomware attacks. Recent notable events, such as the Rapattoni outage, have revealed the vulnerability in core industry systems. Expect to see more distributed and redundant tech solutions, in addition to the hardening of real estate applications via two-factor authentication, to become the norm.

Real estate operating platforms

Real estate firms are consolidating and filling out their platforms to more closely offer full end-to-end service to their agent and consumer users. Integrations have advanced also, which allows users to stitch together best-in-class products into one integrated system

Demand generation solutions

To maximize the effectiveness of inbound marketing and attract potential clients, brokers should establish robust demand and lead generation strategies. Together, these approaches can lower customer acquisition costs while increasing customer lifetime value. Advanced email marketing platforms, social media tools and CRMs are instrumental in achieving these goals.

Listing coordination

Coordinating listings entails the meticulous management of every step in the listing workflow, from initial setup to final contract. As such, there is a growing demand for specialized technology solutions to streamline and optimize this complex process.

Content marketing systems

Some brokerages are adopting innovative solutions designed to scale their marketing initiatives, especially in the realm of content marketing. Over time, the tools available in this category have evolved to offer more advanced and robust functionalities. This progression allows companies to create more targeted and effective marketing campaigns, thereby enhancing their overall reach and impact.

Technology mergers and acquisitions

The trend of expanding through consolidation has been evident in the technology sector for several years and shows no signs of slowing down. As a result, the landscape will likely narrow down to a few comprehensive operating platforms offering a wide array of interconnected products and services. This consolidation aims to create more streamlined, efficient ecosystems.

Homeownership solutions

The industry is very familiar with transaction coordination. Tools and services are developing to help brokers and agents stay in touch and serve consumers after the transaction, into more of a homeownership support system.

Next-generation voice assistants

As generative AI technologies swiftly evolve, initial voice-activated solutions like Alexa and Siri are set to transition into a new phase characterized by capabilities similar to ChatGPT. Anticipate seeing this functionality integrated into a variety of platforms, spanning both the real estate sector and the broader technology landscape.

Read the full report: Digital copies are available for free at T3 Trends.

Note: T3 Sixty and Real Estate News share a founder, Stefan Swanepoel.

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