Technology continues to change how people look at the world and how they handle work. Financial technology (fintech) has long been disrupting the world of finances while real estate technology (proptech) is playing catch up. By combining both fintech and proptech, expect the real estate industry to be completely transformed.
Trust and Transparency
With the addition of technology, real estate investing has been opened up to people would otherwise not be willing or able to navigate the traditionally complex and time-consuming process. The process of real estate investment has been democratized so that even those investors with less experience have the confidence and tools they need to participate.
Customer Behavior Changes
The fintech revolution is fueling changes in customer behavior with more of them expecting the completion of tasks to be quick and affordable. Real estate and fintech together provide digital solutions that the traditional real estate industry has not invested in as quickly. These technologies will continue to transform the real estate industry by increasing efficiency while also lowering costs.
Property owners, renters, landlords and buyers can all expect the connections between them to continue to be transformed as real estate and fintech evolve. Creative solutions and alternative models — like digital media, technology and blockchain — will fuel collaborations and flexible partnerships. These will present opportunities for people from all walks of life to become participants in real estate in key ways that meet their unique needs and budgets.