reAlpha CEO Giri Devanur recently wrote an article titled “Seven Ways Technology Is Disrupting Real Estate.” In the article, Devanur, a member of the Forbes Business Council, noted that buying a home today looks different from how previous generations purchased their homes. The internet has created a resource that most people turn to first, with COVID-19 aiding the adoption of technology. Devanur outlined seven ways that technology has impacted the real estate sector: data, contracts, showings, fintech, online investment, smart home technology, and new rental avenues.
“The traditional real estate model was always the same: buy the property and rent it out,” Devanur wrote in the article. “The internet has brought about new ways of generating revenue. Airbnb wasn’t first in the short-term rental space, but it certainly dominates it now. The global short-term rental market is estimated at $87 billion. Especially with COVID-19 restrictions being lifted, that market needs servicing. A lot of servicing. Airbnb CEO Brian Chesky told CNBC his platform will need millions of more hosts in the coming months to meet the demand. I predict virtual showings and online closings will not fade with the pandemic. Instead, expect technology to keep changing the industry. Blockchain technology is one area that has the potential to have massive impacts on real estate. Cryptocurrencies are, at times, already being accepted as payment for homes that could expand in the future. Blockchain also has the potential to be utilized for documentation software because of its inherent security features. Technology is shaping real estate’s future, so be sure to stay ahead of the curve.”
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About reAlpha
reAlpha is using technology to bring the power of real estate investing to the 99%. reAlpha merges the most historic asset with the technology and business model of the future: Airbnb. The reAlpha platform provides meaningful wealth generation opportunities for everyone: short-term passive income through Airbnb as well as equity-driven capital appreciation. However, they also believe that real estate investing is deeper than just financial returns, it is the pride of ownership and the freedom of financial security. They are driven every day to create not only lucrative returns for their members but also to deliver exceptional experiences and positively impact the communities in which reAlpha lives and operates. To learn more visit realpha.com.
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