The evolution of financial technology (fintech) has created new opportunities in the real estate investment field to enable those with venture capital, and viable real estate development projects, to collaborate seamlessly. There has always been a historical gap between those that had money, and those that needed it.
In the process of buying and selling real estate, one essential task that must be accomplished is the transfer of a clean property title. That means, the property that is associated with the title must also be free of any liens or encumbrances.
There’s a new decentralized and distributed ledger system that is gaining in popularity and picking up speed that will revolutionize the way real estate is bought, sold, invested in, and transferred in the very near future. In fact, this distributed ledger technology (DLT), known as the blockchain, has already arrived and real estate transactions are currently being recorded on it.
Technology does not always advance evenly. The real estate industry has seen developments in internet marketing, the use of drone photography, and the use of predictive analytics. These have changed the industry in many ways. However, many facets of this important sector of the economy still have room for improvement.
Real estate investing, like so many other industries, is in state of reformation thanks in large part to technological innovation. One of the most powerful innovative new technologies transforming real estate investing today is artificial intelligence (AI). Below are six ways AI is changing real estate investing for the better.
Investopedia defines FinTech as a “portmanteau of financial technology that describes an emerging financial services sector in the 21st century.” In other words, FinTech is the use of technology to support electronic banking and financial services.