Technology has advanced considerably in recent years and continues to evolve as it's updated or altered to meet the needs of other types of businesses. This is especially true for real estate development in terms of helping developers complete their projects and agents sell or lease those properties. While some technologies, such as artificial intelligence, is in need of improving, they can still be used effectively in the real estate industry.

In particular, real estate agents are already adapting virtual reality and artificial intelligence to help them list and sell properties online. The use of AI has helped agents connect with those looking for a new home and rental in a more efficient manner. Even when the agent isn't available, an AI bot can be programmed to supply an individual with the answers to their questions about any particular real estate property. The interactive bots help make sales much faster and without the need for the agent to be online in that moment.

Since buyers and renters may not want to visit a property until they're ready to commit, virtual tours help them see the properties online. They can take virtual and interactive tours that allow them to explore the floor plans and let them tour the entire house right on their computers. If the buyer or renter likes what they see in the virtual tour, they can request an in-person tour to take a closer look at the home.

Even the process of renting or leasing a property has been simplified through technology. Today, individuals can download contracts and other important documents related to the real estate transaction, which they can print out at home. While this provides greater convenience for everyone involved in the transaction, it also helps limit contact with one another. In the midst of this pandemic, the capability to reduce contact with agents, sellers, lenders, and others is vital, so the use of this technology is even more beneficial.

While some real estate professionals may be reluctant to work with new technologies, the industry as a whole will soon embrace these tools with greater acceptance. Just as social media has become a powerful tool for marketing businesses, using AI and virtual reality will soon become the norm. These technologies create a more convenient way of finding properties, touring them from any computer, and pursing real estate transactions.