We dig into the evolving US real estate tech landscape to understand emerging sectors and where the industry is headed next.
While searching for home or rental listings online is easier than ever, transacting — encumbered by an army of brokers, lenders, insurers, and other bidders — remains largely the same.
Consequently, the real estate tech landscape has expanded significantly as ambitious startups look to transform the residential real estate value chain fueled by record support from investors. Funding to US-based real estate tech startups is on pace to exceed $4.0B in 2019, shattering record funding levels in 2018.
Equipped with forward-thinking technology and ample capital, startups are experimenting with new models such as algorithmic home buyers (iBuying), technology-enabled appraisals, and workflow improvements for commercial real estate investors. Traditional categories like mortgage lending and home insurance are facing digital-first challengers, while completely novel categories like iBuying are attempting to upend current models of home buying.