Most real estate investors and agents associate physically being on the property they buy or sell as key. It is so common that it is not even thought of consciously. How do you even consider buying a property you have not even seen? Or, at the least, your agent should have seen it, and you trust your agent.
Mr. Steigman lives in Parkland, Florida, and in 2021 he was Atlanta's #1 real estate agent. Parkland, Florida is over 600 miles away from Atlanta, but it does not matter to him. He does not travel to the city where he is the top real estate producer.
So what is his secret?
Mr. Steigman uses advanced software that crunches large data sets to give him an advantage. According to a brief in the Wall Street Journal he relies on custom software that is also available as a platform for others. It acts as a Bloomberg Terminal for residential real estate, analyzing large data sets and identifying the best investments for his clients. Steignet allows him to identify eligible homes, underwrite deals, and close deals faster than others.
He has been helped by an increase in real estate investment by institutional investors, who are increasing their exposure to residential real estate. In one example, the Blackstone Group has been making significant moves in residential real estate. They have recently expanded into this area by investing over $6 billion as a hedge against inflation, among other reasons.
Tools for remote real estate investing##
Recent advances in technologies, helped by the COVID-19 pandemic, have made it easier to invest in real estate remotely. The tools that are available to investors are:
- Use video conferencing tools like Zoom to view the property with a real estate agent that is remote-investor friendly.
- Have your remote real estate agent document the property's condition with HomeKasa's Property Inspection app.
- HomeKasa aspires to simplify your life as both a renter and a landlord. Schedule reminders, track expenses, use communication templates, etc., all from one place. HomeKasa offers the best property management platform in the industry, and it's free. Get started now.
- Use electronic forms instead of paper forms. These allow you to fill out the form online and get a PDF that can be sent to third parties online.
- Use Zillow, Redfin to search for properties and understand their characteristics.
Real more about remote real estate.