How technology is impacting the real estate industry

Share:

Share on facebook
Share on twitter
Share on tumblr
Share on pinterest

There has never been a better time to get connected than in the digital era. From connecting people worldwide through small screens to delivering your food and essentials right on your doorstep, technology has changed the game until the very last detail of what we thought we knew.

One territory that has recently joined the ‘e-volution’ is technology related to real estate and property. It seems that the era of browsing the newspaper, visiting agencies, agents knocking on your door for offers, and scouring the phone directory for queries and assistance combined with searching for mortgage lenders has now been flushed to a distant memory.

It seems that the innovation hasn’t quite reached its peak just yet. How many of us can bravely show our browsing history without a single result of buying and selling properties online? Thanks to cutting-edge innovations, acquiring such has already become faster, easier, and more efficient for buyers and sellers.

How is e-commerce changing the game?

The process of buying a property could take eons, and each step could easily be a hit or miss, which makes it more crucial for both parties. That’s where the digital market comes in. Could the innovations that we have now aid buying decisions? Here are some cornerstones available now that you might find helpful.

VIRTUAL VIEWING

One of the most important key points in buying and/or selling a property is physical viewing. It gives the prospective buyer an idea, looks, and feel of the place, which greatly affects their decision-making. To make the process easier and to avoid wasting time, you can now have the option to view the property virtually through 360-degree photography or virtual reality technology — in detail, whenever you want. This is convenient, especially nowadays where physical contact is discouraged due to the pandemic.

Another innovation that buyers can consider trying is getting a bird’s-eye view of the property using a drone. This way, they can easily view the outdoor features of the place. This is beneficial for those who are planning on buying a vacation house, moving to a new place, or simply investing in an income-generating property.

broker

DIGITAL MORTGAGE BROKERS

Digital transaction services have simplified the home-buying-and-selling process by simply downloading certain apps or clicking certified websites from the comforts of their home. You can scan and compare the mortgage market and find which one suits your budget well. Though it can be scary for some, when done right, it can give you a better deal than the traditional one.

AUGMENTED REALITY (AR)

Tired of visualizing home improvements you want your new property to have? Good news. You can now do it through augmented reality. Unlike virtual reality (VR), AR lets you enhance a version of an existing world to your liking through visual elements, sound, and other sensory stimuli. For instance, you can add home decors, furniture, and the likes to see if it fits perfectly with the one you have in mind. This is particularly helpful for those launching and promoting their products or services and whatnot.

ARTIFICIAL INTELLIGENCE (AI)

AI has been around for almost 70 years now, but its popularity is still incomparable due to its efficiency and continuous innovation to ease our life routine. It constantly moves forward at a swift pace; that’s why it’s not so surprising how it penetrates the real estate market as well. With a huge amount of data in housing that is available online, it’s almost impossible to have them all automated, right? Well, not anymore. With AI technology, it’s easier for anyone to sort and predict housing trends, pre-sales, factors that will affect the market, and whatnot. It’s a futuristic win for buyers looking for property deals that will make the process shorter and less time-consuming.

Acquiring a home or any property, for that matter, is a lot easier now than it was 15 years ago. Thanks to technology, we can now find easier access and faster transactions our needs in the real estate market.

Buying a house entirely online could scare or spark doubt for a lot of people. But remember, there was a time that all the things we enjoyed now were also feared by many in the past.

In a market that works perfectly well but needs to keep up with the pace of time, transforming and transitioning from the traditional way to make the process easier and faster are inevitable.

It’s just a matter of time, and that time is now.

Scroll to Top