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How Technology Impacts the Real Estate Industry

Technological advancements have a profound impact on the real estate industry. In today’s digital world, people and businesses rely on cell phones, email, the internet, and other technologies to stay connected and perform a range of tasks. Just as they have made day-to-day tasks easier, such advances have revolutionized how buyers, sellers, and agents in the real estate market operate.

Making Access to Information Easier

Thanks to websites, home search apps, and other technologies, potential homebuyers have more access to information than ever before. When considering purchasing a home or a commercial property, buyers often look at the area demographics, crime statistics, school details, and other such information to help guide their decisions. Rather than searching for such information one topic at a time, real estate search websites and apps often include these details with the other property information.

Enhancing the Buyer Experience

Technological developments have improved and simplified the experience of buying a home. Websites and real estate search apps put property listings at potential buyers’ fingertips, allowing them to access the pertinent details for the property, look at pictures, and even take virtual tours. According to a survey by the National Association of REALTORS, 78% of Generation Xers, 80% of younger Millennials, and 81% of older Millennials used mobile devices to find their homes in 2018. The advent of these real estate resources lets people look for properties in almost any location from anywhere.

Providing Investment Opportunities

Technology has opened up the possibility of investing in real estate to a much wider group. Purchasing real estate as an investment was once widely considered an opportunity only for the wealthy. However, through real estate crowdfunding websites, small investors and individuals can now purchase partial ownership in properties; similar, for example, to the way people may invest in partial shares of mutual funds, stock, or bonds.

Legal Hiccups

Although technology has benefitted the real estate market as a whole, it has also created the potential for legal mishaps.  While email and text communications help expedite the process, realtors and sellers/buyers alike still must be cautious and make sure that all material terms to a transaction be documented in writing and included in final contract documents.  For instance, an email regarding a change in terms should be transferred to a written addendum to the contract. The final contract is binding so agreements made solely via text or email can create ambiguities and potential problems should a future lawsuit arise.

What Our Clients Say

My family and I are thankful to Maddox, Segerblom and Canepa for their assistance during a three year case regarding construction defects to our home. We are truly appreciative of their knowledge, determination and assistance during this process. They were always courteous, and available to answer any and all of our concerns and questions. Thank you for the wonderful resolution. Many thanks to you and your staff.

Frances Castelli

We used Maddox, Segerblom & Canepa to represent us in a legal suit re problems in construction on new properties that we purchased from a developer.

We were very pleased with the representation provided by this law firm. They were fully communicative, responsive to our questions and were very knowledgeable about the issues that required resolution. Even after we reached a resolution, they have been responsive in making sure to point us in the right direction for help with repairs that are required.

We would recommend them to others with similar issues that require legal help.

Atam & Margo Lalchandani

Maddox, Segerblom & Canepa did a FANTASTIC job in our construction defects case. I interacted with several people from their office throughout our 2 year litigation. Their staff is friendly, knowledgeable and always prompt about getting back to you when you have questions/comments/concerns. I especially enjoyed working with Darcy, Ardea, Eva, and Sandra. Being part of a lawsuit is no fun for anyone, but if you have to be a part of one, I can’t say enough positive things about this firm!

Victoria Fox

The law firm of Maddox, Segerblom, and Canepa were amazing to work with. They were thorough and always available for any questions we had. We worked a lot with Sandy who was always professional, friendly, always on time for appointments and just a great person to represent this firm. We have never been involved in a law suit before and they made it comfortable for us. We appreciate the hard work the lawyers and people who work for the firm did and would recommend them.

Becky Loudenburg
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