How Digital Technology Is Changing The Real Estate Industry in 2024?

Relia Software

Relia Software

Duc Le

Relia Software


This article refers to digital transformation in real estate. Besides, let’s discover the importance of technology and digital trends in real estate.

How Digital Technology Is Changing The Real Estate Industry

Table of Contents

The real estate market is notoriously sluggish to adapt new technologies and relies heavily on personal connections between buyers and sellers. However, as technology develops, the Real Estate industry is shifting. Real estate agents' day-to-day tasks, property marketing, and sales, and even consumer preferences in purchasing and leasing homes are all being altered by technological advancements. Let's talk about how the rise of new technologies is altering the real estate market!

>> Read more about digital transformation in other fields:

How Digital Technology Is Changing The Real Estate Industry?
How Digital Technology Is Changing The Real Estate Industry? (Source: Internet)

Benefits and Challenges of Digital Transformation in Real Estate


Improved Information Access

Everyone wants information, and digitization allows it. Buyers, sellers, brokers, investors, and property agents can work better together with online listings and mortgage and rental documentation.

Process Automation

Automation makes property management easier for real estate agents to preserve client relationships. Automation also saves a lot of time, increasing productivity.

>> You may consider: 8 Main Benefits of Healthcare Automation Systems

Better Data Access

Digitization simplifies access to essential information. Increasing data availability makes real estate more transparent. Additionally, unifying data from various sources into a single platform benefits everyone.

Data-Driven Insights

A building's age, condition, and past repairs can be determined by real estate specialists using data. This lowers property-related unknowns, reducing buyer and investor risk.

Improved Efficiency

Automating business operations improves real estate agents' efficiency. Agents use digital calendar schedulers to schedule in-person encounters like client walk-throughs and inspections.

Increased User Engagement

Real estate is no more one-size-fits-all. Technology improves client engagement nowadays. Artificial intelligence and machine learning can help you recommend properties to buyers and sellers, simplifying their process. They may optimize property searches and build customer-driven experiences.

Quicker Response

Customers want speedy, individualized service when they have inquiries, problems, or other issues. Cloud-based tools allow activity from any device, anytime. Sell property quickly and easily by simplifying transactions and paperwork.

Get Rid Of Fraud

Verification systems on online property portals can verify identification and legal documents for every transaction. This simplifies pricing transparency, intermediary fee elimination, tax revenue collection, and fraud prevention.

Manage Documentation Easily

Manual papers might strain real estate brokers. A single transaction can generate hundreds of pages of contracts, inspections, and closings. Agents may manage, find, and communicate essential information with stakeholders through digitization.

Creating Info Models

BIM is another benefit of digital transformation in real estate. It lets architects, engineers, and construction workers use 3D models to plan, create, build, and manage properties and assets.


Resistance to Change 

Some realtors fight change, therefore the business has been hesitant to adopt new technologies. This can hinder industry-wide adoption of new technology.

Data Security & Privacy Issues 

Technology in real estate transactions raises data privacy and security problems. Real estate agents must safeguard client data.

>> You may be interested in: Data Security in Healthcare Software: Why Is It Important?


Criminals can use digital and remote communications to enter wire transfer and closing dialogues, causing misdirected funds transfers and devastating financial losses for real estate professionals and their clients. This is called business email compromise (BEC), although it encompasses other compromised communications. FBI reports show BEC losses reached $2.7 billion in 2022.


Integrating new technologies with real estate partners' old systems and tech might be difficult owing to compatibility difficulties. Implementation can be delayed, error-prone, and costly without proper planning.

Digital Divide and Tech Access

The digital divide can hinder real estate technology adoption. Some people and communities lack technology here. It can cause information and opportunity inequality.

Legal and Regulatory Issues

Technology in real estate transactions may increase legal and regulatory risks. Legal compliance is essential for real estate professionals. 

Benefits and Challenges of Digital Transformation in Real Estat
Benefits and Challenges of Digital Transformation in Real Estate (Source: Internet)

How Can Digital Technology Transform The Real Estate Industry?

Search And Buy 

According to research, by the year 2017, more than 51% of real estate buyers were using the Internet to research and make a real estate purchase (commercial or residential) decision. 

Today, if any real estate agent or firm worth its salt ignores online websites and listings, they are sure to miss the gravy train. It’s not a new concept at all. Any business needs to be present and sell where customers are looking. And, today’s buyer is all about digital tech. If the real estate agent/firm has its website then it is worth the effort to invest in digital marketing tactics like SEO, online advertising, etc. 

One way that digital technology is transforming the real estate industry is by making it easier to buy and sell properties. Through the use of apps and websites, buyers and sellers can easily search, compare, and purchase properties. This makes the process of house-hunting much more efficient and streamlined, allowing buyers to find the perfect home quickly and easily.

Real Estate Agent 

With so many property listings and websites easily available now, it is very easy for buyers and sellers to connect directly and eliminate the middleman, i.e. the real estate agent. 

Even Whatsapp has become a popular way of sharing property details and finding buyers. But the good news is that agents are not completely out of the picture. Not if they see these new channels as opportunities to increase their market reach by leveraging digital marketing and offering customized services by using analytics to understand buyer needs.

Another way that digital technology is revolutionizing the real estate industry is by making it easier to access and manage rental properties. Landlords are now able to use apps to advertise their rental properties, collect rent, and even screen potential tenants. This eliminates the need for costly middlemen and makes managing rental properties much simpler.

Changing Site Visits

There is a two-pronged approach to how digital tech will change site visits. One is operations, where agents can use websites or bespoke software to arrange site visits and plan pre-visit prerequisites like a deposit, online forms, proper ID, financial references, etc. The second aspect is a more radical change, where virtual and augmented reality apps can provide a 360-degree experience of the site online from anywhere and without the need to ask the buyer to travel or spend time scheduling a meeting. 

Imagine walking around a property virtually and experiencing the size and location of rooms, windows, wardrobes, and closets, or stepping into the bathroom and feeling the shower space. Advanced VR software even allows buyers to virtually check out the neighborhood. It’s like going to the site without even stepping out of your home or the agent’s office. Think Pokemon Go!

Digital Documentation

Preparing documentation related to the rental or purchase of any property, commercial or residential, used to take hours. The documents were prone to manual errors, and in cases where the purchased property was in another city or country, there would also be the hassle of including regional laws and regulations. 

But today there are several websites and automated tools available that take a fraction of the time needed earlier to prepare all documentation. If engaged early during the transaction, these portals record and manage each step right from documents needed for the first visit pre-requisites to transaction-related documents, payment information, ongoing rental revisions, etc. 

Such portals also allow direct validation credentials with government authorities, enable digital verification of documents, and help with other legal requirements. For the buyer, this means transparent pricing and taxation, transparent and legal payments, and the elimination of fraudulent transactions.

Easy Loans Management

Digital technology is also making it easier to finance real estate purchases. There are now a variety of online lenders that offer competitive rates and terms for home loans. This makes it easier for buyers to secure financing and purchase their dream homes.

Estate Management

Even the way properties are designed, built, and then managed can be transformed. There is already a prevalence of the Internet of Things, or IoT, in several countries. One such example is smart sensors that leverage data to guide and help manage buildings of all kinds. 

In New York, realtors, agents, and owners are using smart sensors and mobile apps to monitor commercial and residential complexes in real-time, and that too remotely. These sensors share continuous data on the condition of equipment, service interruptions, security scenarios, and even something as specific as building temperature. 

Scheduling repairs, controlling fire breakouts, and reducing the wastage of resources like water and electricity have been made so much easier by IoT adoption.

Finally, digital technology is making it easier to manage and maintain properties. Homeowners can now use apps to monitor and control a variety of systems, such as security, lighting, and heating. This makes it easier to keep track of property maintenance and keep homes in top condition.

Building Intelligence 

Business Information Modeling (BIM) uses digital technologies to manage a building's whole lifecycle. BIM is an intelligent 3D model-based system used primarily by construction, architecture, and engineering professionals to understand the tools they need to plan, design, construct, and manage properties. 

It helps manage design phases and keep track of operations. This includes everything from the design and construction of a building to the optimization of a building’s use of space and/or occupation and related equipment. 

Analytics for Insights 

Real estate investors have already been using artificial intelligence (AI) powered data insights to help with their decision-making. AI is giving them insights into market trends, identifying new opportunities, charting out realistic revenue and growth plans, and even highlighting possible loan defaulters where applicable. 

In addition to BIM and estate management, AI-powered insights are helping real estate investors control expenses, increase investment returns, and reduce risk. 

Digital Image Classification 

Let’s imagine selecting and posting photos, keying in details, and managing listings of hundreds of properties manually. Sounds overwhelming, doesn’t it? The good news is that real estate brokers can now use machine learning to identify and tag site photos in seconds. 

They can now easily sort images based on multiple characteristics like room type or number, special features, design styles, location, fittings, date required, and so on. By combining this tool with their marketing software, agents can run more targeted emailing campaigns and location-specific ads.

How Can Digital Technology Transform The Real Estate Industry
How Can Digital Technology Transform The Real Estate Industry? (Source: Internet)

New Digital Trends In Real Estate

>> Read more: Top Mobile App Development Trends For 2023


Property searches, mortgage approvals, and transaction administration are just a few examples of processes that may now be handled automatically, making the home-buying process easier than ever. As a result, we are now able to close transactions more quickly and with greater efficiency.

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AI Home Buyer’s Assistant

More and more people are turning to artificial intelligence-powered house-buying assistants for individualized suggestions. Property and financing are only two of the many issues that these aides can help homebuyers with.

Virtual Reality Real Estate Tours

Using virtual reality, interested buyers can tour homes without leaving the house. The time and money spent on showings could be saved by both buyers and sellers thanks to this innovation.

Augmented Reality Property Showrooms

Buyers can get a sense of a property's potential with the use of augmented reality technology, which superimposes digital visuals on top of real-world views. Buyers can get a better sense of how a room can be altered to meet their needs with the aid of this technology.

Big Data Analytics Property Valuation

By analyzing massive volumes of data, real estate agents may better understand market patterns and how much their properties are worth. Buyers and sellers alike can benefit from this technology.

Predictive Analytics Property Market

Future trends in the real estate market can be predicted with the help of data and statistical algorithms, thanks to predictive analytics. By using this technology, real estate agents and brokers will be better prepared for future market shifts.


Electronic signatures, online forms, and digital transaction management are all examples of how the real estate market is becoming increasingly digitized. Both buyers and sellers can benefit from the trend's increased efficiency and lower prices.


Secure and transparent transactions made possible by blockchain technology have the potential to completely alter the real estate market. It has the potential to streamline the real estate transaction process by cutting out expensive middlemen like lawyers and banks.

Internet of Things (IoT)

Homes are becoming increasingly connected and intelligent thanks to the Internet of Things. Smart thermostats, lighting controls, and security systems are just a few examples of connected gadgets that can help households reduce their carbon footprint while also improving their quality of life.

Real Estate Management Software

Property owners and managers have shown a growing preference for real estate management software. It can facilitate streamlined operations, automate processes like rent collecting and maintenance requests, and give instant feedback on the state of a property.

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3D Printing

The construction industry could see a dramatic shift toward 3D printing as it opens the door to more rapid and cost-effective building methods. It allows for the modification of structural parts, which can lower costs and waste.


Drones are being used in many different ways in the real estate industry, including for inspections, surveys, and promotional videos. Traditional approaches can't compare to their speed and precision when it comes to data collection.

Online Marketplaces

The real estate industry is evolving as a result of online markets like Zillow and Redfin. They make it easier for buyers and sellers to make educated decisions by providing real-time data on property listings, prices, and market trends.


In conclusion, the benefits of technology's impact on the real estate business are abundant. Real estate's future is unquestionably tied to technological advancements, and that role will only grow as the industry continues to embrace these shifts. If you want to make the most of the ever-evolving real estate market, whether you're a buyer, seller, or expert in the field, adopting these technological advances is essential.

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