In 1991, the National Association of REALTORS® made an “office of the future” video predicting what kinds of space-age technologies would change the home buying and selling process by the year 2000.
Jon Coile, broker-owner of Champion Realty in Severna Park, Md., dug this gem of a video out of the NAR archives for his presentation Wednesday at the Broker Summit in Atlanta:
Did NAR get the fashion wrong? Yes. (Is NAR really known for its fashion sense?) But how far off was the video, really?
Today we have AT&T Digital Life (the home automation mentioned in the video), Skype (video calls), thumb drives (mini discs), MLS with photos (home tour line drawings), smart appliances (“Microsoft Maytag software”), Siri (talking cars), and GPS (car navigation systems). “And they’re still going to need an agent – they got that right, too,” Coile said.
So this video begs the question: What does the next decade hold for the real estate industry?
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I’ll bite. In the next 10 years, I think virtual walk-thrus (video or rendered with software) will be the norm.
I suspect much deeper integration with Google earth (or video via drone), so people can get an accurate view of the property.
I think the biggest change will be search – the tools (even redfin) are pretty rudimentary. I think these will become much more sophisticated. It’s currently not easy to do simple things like find a 1 story in a good school boundary, or a 2000 sqft with a granny flat. More complex searches (40 minute average commute, low crime, incomes of neighbors, ethnicity etc) are impossible with the tools we have today.
“What does the next decade hold for the real estate industry?”
Silver space suits will become the next big fashion statement by 2020 (my prediction). All RA’s will wear them.