Wednesday, April 19, 2017

Tech Disturbing the Real Estate Industry - 2017 List

Tech and Real Estate

Automated Tech

Toor - App-powered lockbox technology allowing users to see a property at a moment's notice, with or without an agent.

Slock.it - Automated lock technology that allows users to sell or share anything securely and on-demand.

Tech RE Brokerages

Real App - Real estate brokerages are going to have to change their old-school, brick and mortar model.  That's what Real is doing.  Real is a national, app-powered brokerage offering agents more independence, leads, lower overhead costs (no fees) and higher commissions (85%-15%).
"The app itself gives agents access to transaction documents, marketing materials, a CRM, the latest listings, 24/7 real-time support, and even the ability to build a beautiful, custom website in less than one minute, all for free."
The Virtual Realty Group -The Virtual Realty Group is a national, online-based brokerage covering residential and some commercial property.  The benefits are that an agent can be more independent and grow his or her own brand.  They offer agents custom marketing materials, a 3D office and a variety of commission plans that are much better than your average brick and mortar brokerage.

Houwzer - Focusing on the Philadelphia market, Houwzer is another online brokerage with a new way of doing business.  Houwzer charges a home seller $495 to market his or her property, which is paid at closing without any closing commission.  The brokerage does collect a commission from their buyers. Houwzer employs salaried agents who receive bonuses based on customer satisfaction ratings, but don't receive commissions on either seller or buyer sides.

FinTech

Blank Funding - A platform that connects qualified (spam-free) lenders with investors.  This is giving investors more lending choices in a straightforward and streamlined manner...basically 3 guided steps and you're off and running to find a lender.

Blockchain - I've written a lot about blockchain technology that's making the exchange of real estate contracts, titles and funds easier, smarter, faster, cheaper and much more efficient.  Check out my post "Blockchain and Real Estate" for more about this technology.

Virtual Reality

VR Global - Will we need an agent to drive around and show property if you can put on a headset and move around the space virtually?  VR Global makes 3D real estate renderings for developers, sales agents and architects.  I can see VR being a great way for pre-lease/sales for developing space.

Matterport - Matterport sells a virtual camera for DIYs.  Retails for $3,500. Ouch.  But, this IS the future!

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