At a virtual international real estate conference held in Europe, I found myself with a racing pulse as, in just a few minutes, I was about to broadcast insights from accompanying over 300 real estate deals, live on camera from my office in the Ness Ziona Science Park, connected to hundreds of developers and investors from all over the world. “The future of real estate is digital,” I declared, “and technology is not just a tool, it is the key to success.”
The virtual audience was captivated. They knew the world was changing fast, but not everyone understood how it would affect the real estate world.
“Let's imagine an Israeli developer building a building in Berlin,” I continued. “In the past, he had to be there physically to supervise the project. Today, he can use smart cameras and remote monitoring systems to get real-time updates on every bit of progress.”
I shared my screen and showed images of smart cameras that scan the construction site, identify potential problems and let the developer make informed decisions remotely.
“But that's not all,” I continued. “Technology is also changing the way we market and sell properties. Virtual tours, AI-based chatbots, targeted campaigns - all of these let us reach a global audience and present our projects in an attractive and accessible way.”
The conference chat began to fill with enthusiastic responses. “This is amazing!” wrote one woman developer. “I'm already using virtual tours to show my clients properties abroad.”
Another developer asked: “But how can technology help me manage my properties more efficiently?”
“That's an excellent question,” I answered. “There are property management platforms that let you collect rent, manage faults and maintenance, and even communicate with your tenants, all online.”
In the private rooms of the conference, the conversations were even deeper. Developers shared with one another their experiences with new technologies, and consulted about the challenges and opportunities they pose. A senior executive at a major PropTech company said: “We see how the use of digital tools improves the efficiency and profitability of real estate companies. It is not only a matter of saving time and money, but also of improving the customer experience.”
“Don't wait for the future to come to you,” I encouraged them, “go out and create it! A report by the international consulting firm McKinsey indicates that by 2030, digital technology will generate a value of 1.7 trillion dollars in the global real estate market. That is not something that can be ignored.”
“Technology is advancing at a dizzying pace, and whoever does not adopt it will be left behind.” - Mark Zuckerberg
Israeli real estate developers who want to succeed abroad must adopt technology. It is not only a matter of convenience, it is a matter of survival and success in a competitive, global world. The digital revolution in real estate is not just a passing trend, it is here to stay. And whoever is ready to adopt it will discover a whole world of new opportunities.
“Technology is the greatest driving force in the real estate market today. It is changing the way we buy, sell, rent and manage properties.” - Grant Cardone
The screen filled with applause emojis. They understood the message - the future of real estate is digital, and whoever is ready to embrace it will lead the way.
Stories are based on real situations, with identifying details changed. Not legal advice.
Translated from the Hebrew original. עברית