Technology

Technology Trends that will Impact Real Estate (and the World) in 2018

1.    Talk to Me

 

Texting and typing is so 2010.  Consumers of 2018 want to speak to their computers.  With the advancing technology of chatbots, this is now easier than ever.

 CHATBOTS – Chatbots like Siri and Echo are making voice recognition software ubiquitous.  It is estimated there will be 1.8 billion users of voice digital assistants by 2021.   Many predict voice to be the fastest growing interface in digital search.

CHATBOTS IN REAL ESTATE – This trend has already started to emerge in real estate.   AskDoss (pictured),  which launched in October, is the first intelligent personal assistant for everything real estate.  Users of this platform can speak their real estate search into AskDOSS in their natural voice and get accurate, easy and instant answers.   AskDOSS is likely the first of many real estate portals that will incorporate chatbot technology into search in the coming year.

 


 2.   Get to Know Me

We’ve been saying for a while that blanket, standardized messaging is a thing of the past.  In 2018, we’ll take a giant step away from uniform content toward increased personalization, customization and one-on-one marketing.

Amazon leads this trend with their personal storefront.  Now services like Sentient and Viscovery are promising a new level of personalization on websites, emails, and even videos.  Technology like machine learning and Artificial Intelligence make this level of personalization possible.  Dark Analytics might take this all further and is another trend to watch in 2018.

DARK ANALYTICS – Dark analytics is looking at unstructured, raw, or text-based data that hasn’t been analyzed and doesn’t come in tidy rows or spreadsheets.  It includes things like text messages, documents, emails, video, audio and still images.  Currently, there’s not a common way to run analytics on this type of data to come to finite conclusions, but that won’t always be the case.

90% of data today was generated in the last two years.  The digital universe is doubling every 12 months.  Think of all the data you produce simply by being an active internet user.  This reporter found out that her single Tinder profile produced 800 pages of data.  800 pages!  And much of that data isn’t being analyzed….for now.

DARK ANALYTICS IN REAL ESTATE- Today, we analyze a fraction of the data produced – estimates are around 10-20%.  If we can advance computer vision and pattern recognition software to unlock insights from this data, companies like first.io (pictured),  who offers predictive analytics on home-owners, will become even more sophisticated.  Based on pictures or conversations or purchases, companies may know a home-owner is going to sell before they do.

 

 


 3.   Go Faster

Another trend that isn’t going anywhere is the need for companies to develop and perform faster.  Whether in response time or technical advancement, speed is paramount.

To advance faster, more companies are moving to architecture of open-standards and cloud first designs.  This trend started in start-ups, but is now seeping into companies of all scopes and sizes.  Moving from the traditional stovepipe structure to something more agile means that all companies can be reactive and advance quicker.

SPEED – Even consumers act quicker the more they move away from desktop applications.  A study from Facebook this year found that mobile devices change our perception of time.  People who viewed a video on a phone thought it was 30% shorter than people who viewed that same video on a desktop computer.  Ad purchases are 13% faster on mobile as well.  The takeaway is that it’s not enough to develop fast, your product also must react quickly in the coming year.