Like all industries today, technology is having a major effect on the property sector. A number of tech start-ups are changing the way property is sold, investing in and viewed, for instance. Online estate agencies are overtaking high street agencies in terms of number and lower costs for both buyers and sellers. Crowdfunding has made its way into the property investing market too, allowing individuals to invest for as little as £10 on a portal. The main innovation with the digital marketing of properties is to cut out the ‘middle man,’ especially the estate agent, with sellers doing more of their own ‘showcasing’ via 360 degree videos of their properties and showing interested parties around their homes themselves. Buyers and investors too are accessing more marketing opportunities online. It’s also far easier to list a property online these days.
Meanwhile, buy to let landlords are benefitting from a range of accountancy and managment software packages.