The impact of technological development has been tremendous in all spheres of life and industry. So, it is nothing extraordinary that the real estate industry too is highly influenced by technological growth. In here, Zack Childress, a real estate investor reviews the changes that have taken place in the real estate industry.
Information base is wider:
So much of information is available due to the widespread technological flourish. So, more real estate investors are putting this power to maximum use and contemplate investing in areas in different cities and even other countries. People can communicate globally. For instance, if a person in Australia wants to buy property in the United States of America, he need not frequently visit it. He can transfer the power of attorney to a trusted real estate agent and keep abreast of what’s going on from his place of residence.
Co-working spaces and common residential spaces:
More and more independent contractors and freelancers are emerging since people like to have flexibility in their work timings and travel a lot. Such types of workers may face loneliness. So, many co-working spaces are emerging perennially. Co-working spaces are not operated by the same organization. It is divided space occupied by people who belong to different companies and they are united in that they share the same surroundings. In residential properties also there is more than one common space which is being shared. Multi residential homes with home theatres, play areas, swimming pools, garden, walking space and so on are emerging continuously. These help in socializing and provide enjoyment for inhabitants of the same gated community.
A myth that customers need not be near to retailers is developing due to ecommerce:
With the ecommerce spree, it does not mean that retailers need not be near their consumers. When retailers are near the consumers, their goods get delivered with ease and the cost is also minimized. One would assume that retailers need not have a physical presence in proximity to the customer but this is not true.
A radical change in the methods of transportation:
With Uber revolutionizing the taxi and many more such shared vehicle transport coming up, personal cars may become non-existent. Self driven cars or automated cars are also self parking cars. So, residential, industrial and commercial real estate spaces without the need for much parking amenities can be constructed. This buffer space can be utilized for various other purposes.
The evolution of more flexible work spaces:
The need for flexible workspaces arises since people no longer want to work from a fixed space. They work from their desk, lawns, lobby, home, elevator and even the bathroom sometimes. So it’s time for an increase in adjustable and adaptable work spaces.
This rise in technology is leading to these emerging trends in real estate as discussed above. This is a review written by Zack Childress. Zack Childress rose to riches and fame in a short duration of time. His investments in real estate are worth billions. Not just this he is a great guru and has mentored innumerable real estate sellers and buyers.