Emerging technologies could take some of the stress out of home buying, selling and remodeling
BEFORE: New AI technology from REimagine Home by Stylerod lets you upload a photo like this living room — seen here in its “before” state — and virtually remodel it. Think Geek Squad meets The Property Brothers. At a National Association of Realtors summit last month in Miami, innovators, investors and real estate professionals got together to chat like chatbots about PropTech. That’s the hip insider term for “property technology.
Just as technology has changed the way we shop, get to places and communicate, it is also upending how we buy and sell houses. NAR’s director of emerging technology, Dan Weisman, agreed to tell me about the meeting’s biggest takeaways minus the geek speak:The role of technology in real estate is to streamline the process and reduce stress points. Most of us are familiar with DocuSign or similar technologies that offer the ability to e-sign legal documents.
We’re trying to do that for other steps in the process, like the negotiations. Submitting an offer, waiting for a counter, working through two real estate agents, that is an area that needs work. Some companies have tried to create offer platforms, but none has worked out yet. That’s because we still need brokers to provide a level of control to make sure information gets passed along correctly. That said, technology is evolving that could eliminate financing delays.
AFTER: New AI technology from REimagine Home by Stylerod lets you upload a photo and see what a virtual remodel looks like. Perhaps the most revolutionary change we’re seeing is AI technology that can help homebuyers see what a home could look like if they renovated. The online tool REimagine Home lets you upload a picture of a room and reimagine it. For instance, I took a picture of a bedroom and turned it into an office.
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