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Real Estate Industry: The Past, Present And Future - Properties - Nairaland

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Real Estate Industry: The Past, Present And Future by Proptybox: 6:48pm On Jun 15, 2020
It all started as a single soul according to
the holy books in the garden and then 2
and then 4 and now over 7billion souls in
the planet earth.
Before, people lived in little stratum of huts,
spread across a little village; basic needs,
even love was just a walk apart, though it
was "dark" they said life was good. So for
almost half of human history, our
ancestors moved with the four-legged
food supplies of their respective areas,
leaving only trace signs of their lives: a
cave painting here, some stone axe there,
mud houses, the odd trinkets in the belly
of the sabre-toothed tiger.
Over the period spanning 30,000BC and
15,000B.C; there was a transitional change
and our ancestors abandoned the hunter￾gatherer lifestyle gradually, for an agrarian
society- a transition that heralded the
advent of home ownership.

The Present
Decades of decades apart and many days
in many centuries ushered in the real
estate industry of today. Many systems
have risen and collapsed. Until the
industrial era and technology came,
what used to be a stratum of huts became
cities, really large cities.
“Nigeria has a housing deficit of over
17million units”
Industrialization was one of the greatest
things that happened to the human race,
with manufacturing tools and machines
replacing the nomad and archaic ways of
human existence. People now own
modern houses, cars, radio, television and
other appliances.
During the transformation of the industrial
revolution, urban centres swelled as
people moved to cities to work in factories.
As cites developed, the need for real
estate transactions increased, office
buildings, retail centres, hotels,
restaurants, and residential buildings
boomed and someone was needed to
develop them, sell and manage it all.
Today, the real estate industry is one of the
most lucrative sectors with Nigeria's real
estate market worth over 59 trillion naira
(Federal reserve's real estate statistics) and it
continues to produce opportunities for
interested individuals.
While dealing with the magic of industrial revolution, technology came; to
some it was crazy, to some it was exciting and
to others, it was a mystery.
Though many have different perspectives
on the reality of technology, the fact is
technology is here and the world is now a
"small village".
Consumers have proven to turn the tide
on recent development within the real
estate industry; from one-click solutions
that allow you to buy or sell a home within
days to the recent growth of coworking
space.
These broader real estate trends have
begun to define our current economy.
The retail has changed, people are
transitioning from offline to online. Having
an online presence is as essential to
business as oxygen to humans.

The Future
Technological innovation will disrupt the
economics of the real estate industry.
We've already seen growing use of data
analytics in the industry.
Artificial intelligence, predictive analysis,
virtual reality is reshaping the industry and
adopting these technologies are a
necessity if you want to be competitive in
the industry.
Have you ever thought of how blockchain
would influence the real estate industry?
The future of real estate agents revolves
around this technology; using blockchain
to sell and buy properties.
As a real estate agent are you positioned
to stand out using technology?.

Join Nigeria's first virtual real estate
community at [url]proptybox.com[/url] to begin
your journey to unlimited business
connections.

REFERENCES
Mashvisov.com
Investopedia
Federal reserve's real estate statistics

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