Undeniably, real estate is the world’s wealthiest industry that is more valuable than all global assets combined.
At the same time, it is the least technologically developed one as well, having barriered innovations for at least two decades.
We came up with four assumptions of why it remained untouched by technology for so long.
- Profitability of the old commission-based model;
- Constant demand;
- High level of industry regulation;
- Fear of change.