Top 3 Tech Trends That Are Disrupted The Smooth Functioning of the Real Estate Sector!

In recent times, with every other sector witnessing digital penetration, Real estate is not far behind with revolutionary technologies reshaping the industry’s very fabric. Even though it is among the safest physical investment in times of inflation, RE has lately been hit hard with salient disruption due to the acceptance of new technologies.

As a leading executive search firm, See & Recruit, we are thrilled to share with you the top three tech trends revolutionizing the smooth functioning of the real estate sector in the current scenario. From the game-changing potential of blockchain-powered smart contracts to the immersive experiences offered by virtual reality and the transformative power of artificial intelligence.
Let’s take a look at them.

• Impact of Generative AI: Generative Artificial Intelligence (AI) is a tool that describes algorithms (like ChatGPT) used to create content and respond via images, videos, text, audio, and code, amongst others. It focuses on details, be it automated property descriptions, 3D spaces, or the classification of buildings. However, the biggest drawback of Generative AI is that it is partial and lack accuracy. Moreover, artificial Intelligence is not error-free and biased with its results due to discrepancies in training data on certain occasions.
• Introduction of Blockchain: The introduction of Blockchain in the Real Estate sector has been revolutionary. Due to the usage of Blockchain, the transactions in RE are way more secure, smooth, and impactful. Post-tokenization, one can segregate cryptocurrency as tokens to divide one's assets for enhanced clarity. Also, one can opt for smart contracting, which aids verified contracts and property acquisition swifter than ever between buyers & sellers.
• Combining Sustainability With Real Estate: The RE sector contributed enormously to land contamination and carbonization in the past decades. To diminish the effect of greenhouse gas, constructions, and other factors leading to climactic damage-sustainability is now combined with technology
  in RE. This is done by carefully selecting the development area and focusing on recyclability through the latest technology. Integrating pro-green techniques and the adoption of eco-friendly blueprints also supports sustainability.