Digital Transformation in Real Estate: 2024 Overview

Technology is leading the way for real estate. While some companies go traditional, those adopting digital tools are reaping the rewards. Being tech-savvy in 2024 and 2025 is the right choice.

So, in this article, we’ll cover what digital transformation in real estate means, share its benefits, and look at real-life examples of how technology is reshaping the industry.

What is Digital Transformation in Real Estate?

Digital transformation in real estate is about using technology to improve how the industry works. This means introducing tools like artificial intelligence (AI), automation, and data analytics to make things faster, easier, and more efficient.

How Tech Simplifies Real Estate | Source: Ascendix

For real estate professionals, this can mean:

• Saving time: Automation handles repetitive tasks like scheduling or paperwork.
• Smarter decisions: Data tools give insights into market trends and client needs.
• Smoother processes: Digital platforms help manage transactions more efficiently.

For buyers and sellers, it means:

• Convenience: Virtual tours and online listings let buyers explore homes anytime.
• Better information: Digital tools help buyers make smarter decisions before contacting agents.
• Faster communication: Instant messaging tools keep everyone connected during the process.

In short, digital transformation makes real estate work better for everyone.

Benefits of Digital Transformation in Real Estate

Now, let’s see: is your real estate business keeping up with the times? Many aren’t.

In fact, digital transformation is still being overlooked, with 61% of real estate firms relying on outdated technology, according to Deloitte’s Commercial Real Estate Outlook 2024.

Digital transformation in real estate offers benefits that boost working processes, enhance customer experience, and drive cost savings.

If you’re ready to explore how advanced technology can benefit your real estate business, the Ascendix team is here to help. With years of experience and our own proven tools, we understand what works and how to make it fit your needs.

Have ideas or questions? Book a free call with one of our experts today, and let’s discuss how we can bring your vision to life.

7 Examples of Real Estate Digitalization

The Ascendix team would like to introduce the top examples of real estate digitalization that are transforming the industry. These innovations make processes faster, improve client experiences, and boost overall efficiency.

1. Artificial Intelligence

It’s no news that AI automates tasks, processes data, and enhances decision-making. Real estate firms actively use AI to analyze market trends, identify leads, and predict pricing changes.

AI analyzes property market data to forecast future prices, helping agents set competitive offers.

Key benefits of AI:

• Quick Insights: Get market predictions instantly.
• Accurate Valuations: Set property prices based on real data.
• Automated Tasks: Free up time by automating lead generation and follow-ups.

AI Property Valuation Interface | Source: Ascendix

2. Property Management AI Assistants

AI chatbots handle client interactions, answer questions, and provide property information 24/7. This improves response times and reduces agent workload. A chatbot on your website answers questions about available listings, schedules viewings, and provides neighborhood details.

Key advantages include:

• 24/7 Availability: Support clients anytime.
• Instant Responses: No waiting for answers.
• Reduced Workload: Let chatbots handle routine inquiries.

Example of an AI property management chatbot | Source: Ascendix

3. Smart Matching & Recommendations

AI-driven smart matching uses predictive analytics in real estate to recommend properties based on client behavior, search history, and preferences. By analyzing data, AI suggests listings that align with specific needs, making property searches faster and more relevant. This improves efficiency and client satisfaction.

Imagine: A buyer searching for a 3-bedroom home with a garden receives personalized listings that match these criteria. With predictive analytics in commercial real estate, agents can also anticipate what types of properties investors are likely to pursue based on market trends.

Key benefits of smart matching & recommendations:

• Personalized Listings: Deliver properties tailored to client preferences.
• Time Savings: No more sifting through irrelevant options.
• Forward-Looking Insights: Use predictive analytics to stay ahead of client needs and market shifts.

4. Document Abstraction

AI tools extract key information from documents like leases, contracts, and agreements. This speeds up paperwork and ensures compliance.

Document abstraction scans a lease and highlights rent amounts, contract dates, and renewal terms within minutes.

Contract Summary AI Interface

Key benefits of document abstraction:

• Faster Processing: Analyze documents instantly.
• Reduced Errors: Accurate extraction of critical details.
• Compliance Assurance: Ensure all terms meet regulations.

5. Data Entry Automation

It’s no news that manual data entry is tedious and prone to mistakes. AI automates data input tasks by capturing information from emails, forms, or documents and transferring it to the right system. This speeds up operations and improves data accuracy.

When a new property listing is submitted via a form, AI automatically enters the property details into the CRM, eliminating repetitive work.

Key features:

• Faster Workflows: Eliminate manual input delays.
• Fewer Errors: Reduce the risk of typos or missing data.
• Consistency: Ensure data is recorded uniformly across all platforms.

AI Data Entry Tool by Ascendix

6. AI Integration

Integrating AI into your real estate business allows your systems to work smarter, not harder. AI connects seamlessly with CRMs, ERPs, and other platforms to streamline operations and improve overall efficiency. At Ascendix, we specialize in AI integration, offering a full range of services from assessing your readiness to training AI models tailored to your business needs.

Ascendix can help you:

1. Evaluate if your systems and processes are ready for AI integration.
2. Seamlessly connect AI tools with your current platforms like CRMs, ERPs, and other business systems.
3. Tailor AI models using your specific data for smarter, more accurate predictions and recommendations.
4. Keep AI models performing at their best with regular updates, maintenance, and performance optimization.

AI Integration Process | Source: Ascendix

At Ascendix, we specialize in AI integration, and we’re here to help your business implement the latest AI-driven solutions. Let us guide you through the process of modernizing your operations and maximizing the potential of AI to boost efficiency and productivity.

7. Virtual Reality

VR technology allows buyers and tenants to explore properties remotely through immersive virtual tours. This gives them a realistic feel for a property without visiting in person, saving time for both clients and agents. VR also helps agents showcase multiple properties quickly and effectively.

For instance: A buyer interested in homes across different cities can virtually tour each property in one sitting, narrowing down their choices before scheduling in-person visits.

Virtual Tour Software | Source: Easypano

Key benefits:

• Convenience: Clients can view properties anytime, anywhere.
• Time Savings: Reduce the number of in-person showings.
• Engaging Experience: Offer a more interactive and memorable way to explore properties.

Why Choose Ascendix as Your Digital Transformation Partner for Real Estate?

Ascendix drives digital transformation in real estate with deep tech knowledge and decades of industry experience. We specialize in AI-powered tools that enhance efficiency, accuracy, and customer service. Our team has built custom solutions like data entry automation, AI search, lease abstraction, and smart recommendations.

Why us?

We have over 20 years of experience developing tailored software for enterprises and startups. Our clients include real estate leaders like JLL and more than 300 others worldwide.

With five global offices, we offer 24/7 support and diverse expertise. Ascendix delivers practical solutions and proven technology to modernize your real estate business.