5 real estate startups poised to innovate the industry with their tech
The real estate industry is undergoing some necessary changes amid the evolving needs of various stakeholders. At the backbone of these changes are budding entrepreneurs looking to revolutionize the way the processes and functions are handled by introducing new technologies. We can expect their startups to introduce major innovations in the coming months or years, and here are some of them.
Airbnb is very useful for tourists on the lookout for momentary lodging, but for people planning to stay for longer periods of time, hotels and other short-term accommodations are not practical. This is where Flip comes in. The revolutionary platform allows property owners to sublet or get out of a lease.
Flip users are allowed to create their own detailed profiles that owners of properties up for lease can view easily. The profiles detail credit scores, payment history and verified income so that they have a better understanding of their possible tenant. The structure creates trust and transparency between the property owners and the renters.
Taking a cue from various companies in other industries, RESAAS Services Inc. (TSXV:RSS, OTCMKTS:RSASF) has decided to adopt blockchain technology in its processes. RESAAS CEO Tom Rossiter said that they recently acquired Real-Block Inc. Starting this June, Real-Block’s Ethereum-based technology will be implemented into RESAAS’ cloud-based platforms, which will make transactions faster and more secure. Once the company has secured a bigger user base after its expansion, it will continue to implement more features and quality improvements.
The main goal of RESAAS is to become what Bloomberg is to the stock market, for the real estate industry. Now that it has taken in a blockchain service provider under its wing, RESAAS will be able to provide the real estate industry with the most accurate listings and data with regards to properties.
Currently, RESAAS social network platform is able to connect over 360,000 agents, brokers, franchises, and MLSs. It will be pretty exciting to see how RESAAS implements the emerging blockchain technology into its core processes.
Parking has long been the bane of many drivers, and it’s always a risk to go to malls and other public areas where spaces are often not too secure. WeSmartPark is a revolutionary idea that turns a person’s empty space into a profitable parking lot. It’s essentially an Airbnb for parking spaces, and it is already helping countless drivers in various areas.
WeSmartPark currently operates in Barcelona, Madrid and Santiago de Chile. This translates to more than 160 parking locations that will reach out to thousands of drivers. The platform is expected to expand pretty soon, meaning more property owners can turn their spaces into parking spots soon.
Real estate search engines are usually limited to point-and-click affairs, which could often lead to stretched out searching sessions. AskDoss sees the problem at hand, and it aims at revolutionizing the way people search for properties online. Following in the footsteps of Siri, Alexa, and the Google Assistant, AskDoss is a virtual assistant for those looking for their next home.
Users simply have to speak out their preferences into the virtual assistant, and AskDoss will do the work the rest of the way. Since the platform is still at its early stages, users can expect major updates in the future to further improve the capacity of the AI behind it.
The common problem faced by people moving into a new city is the lengthy and tiring process that comes with scouting a home. They’ll have to move back and forth between their current house and the properties they are interested in. This could be a thing of the past with Transported VR.
Transported VR creates virtual tours of properties for property owners. The revolutionary process benefits both interested buyers and the property owners. For the potential tenants, they no longer have to leave the house for the initial inspection process. As for the property owners, they can use the platform to showcase their listings from clients in far-off areas.
These startups are introducing new technologies that are going to be beneficial for the entire real estate industry and for both property owners and renters. As the industry continues to avail their services, we can expect these startups to continuously improve upon the foundations they have laid for themselves.