The housing industry has stayed pretty much the same in previous years. It’s been around for centuries, and yet the traditional way of doing things has changed minimally in that time. However, thanks to new developments introduced by startups, things are finally beginning to change.
The relationships that are oh so important in the housing industry are still crucial, but most real estate agents are realising that information is essential too. Tech should be and will be a big part of the housing industry in the future thanks to some of the startups around today.
You might think that startups and real estate have nothing to do with one another. You wouldn’t immediately connect the two, would you? However, there are a few unique features of real estate that have made it an ideal place for the startup world to tackle.
In real estate, there are far more opportunities to create a positive social impact with entrepreneurship than in other industries. Another attractive factor to entrepreneurs is that the real estate industry is here to stay. An investment in a house will not simply go away. Real estate is always going to be here, for obvious reasons, which is why it’s full of many lucrative opportunities.
Although properties might change slightly in value year on year, the industry as a whole will be here forever. We’re always going to need places to live, and to rent, and to invest in!
For somebody who is brand new to real estate/finances and wants to rent or buy their first home, they can feel totally overwhelmed by the experience. This has given many entrepreneurs an opportunity to help solve a common problem that regular people are facing every day. While in the past firms have helped potential buyers with the financial ins and outs of buying a property, startups can offer solutions that are more attractive. These solutions are lower maintenance and more affordable! They are set to change the industry in a big way.
In 2014, venture capital funds invested $605 million in real estate technology firms. It isn’t difficult to see why they’ve become more prominent in the last few years. Investors and venture capitalists have finally started to take advantage of the many opportunities that real estate presents.
Real estate tech startups are finding so many ways to help everybody in the real estate industry, from agents, to broker, and of course buyers. Here are just some of the best out there right now:
- Amitree – a step-by-step custom platform, helps homebuyers through the complicated process, offers seamless communication between agents and buyers.
- MyAgentFinder – real estate sellers can now easily be matched with top-rated realtors.
- Lenda – offers help with the financing. An online mortgage and refinancing service with a fast and cheap loan process.
- Roostify – for lenders, a cloud-based mortgage software service that converts mortgage applications. Brings the closing process to the Internet.
Real estate tech has something for absolutely everybody, and solves problems that we haven’t even encountered yet!