Source: Forbes —
Buying a home nowadays looks very different than how previous generations used to buy their houses. Most people probably start their search online and get pre-approved online. They might even view the home and close online.
The Covid-19 pandemic has aided the real estate industry’s adoption of technology. Here are six ways technology has impacted real estate and how it might help shape it in the future.
1. Data
Figuring out how much a home is worth can be hard. Really hard. That’s why, in the past, it was left to appraisers and real estate agents to decide. Now, sites like Zillow and Redfin eliminate some of the guesswork for people and use data to give a rough estimate on the value of a home. Zillow, for example, uses various data for price valuation including the number of bedrooms, bathrooms, square footage, zip code, market trends and many other factors. It even accounts for seasonal influences on home value.
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