Digital Transformation in the Real Estate Industry. Trends, Benefits & Roadmap

Real estate, a $43.5 trillion asset class in the US, is a global economic powerhouse. However, historically, the industry has been lagging in adopting new technologies, no thanks to its disjointed workflows, capital intensity & liquidity, and longevity of assets, among other numerous challenges. 

But as fate has it, change is inevitable. In the last decade, a wave of venture-backed industry players has emerged to help solve the pain points of real estate and bring traditional offerings and processes into the modern age. And as the whole real estate lifecycle is poised to undergo drastic digital transformation in the coming years, big players will do what it takes to stay at the top of the pyramid—going as far as tapping into the word of big data, Internet of Things (IoT), augmented & virtual reality, blockchain, among other technologies. 

In this whitepaper, ORIL looks into the present and future market overview of real estate digital transformation to uncover disruptive solutions, benefits, and challenges to expect. We will also take you through a step-by-step process of successfully implementing a digital-first strategy in real estate and share the lessons we learned from our experience and use cases.