Transforming “Real” Estate with “Virtual” Space and Changing Technology

Real” Estate

Technology is stretching its arms around every possible sphere. It has also embraced the real estate industry. From renting or buying a house to putting it up for sale, everything can be done with just a touch of fingers. The virtual space and digital data has revolutionized the industry completely. The necessity of the physical presence of both the parties, selling as well as buying, is completely eliminated with this revolution. The technology is still moving forward with a very rapid pace to further enhance the experiences of the people involved, their comfort, and the ease of doing work.

Websites and Mobile Applications
Almost all the consultancies today have their own websites. These websites help people to view inventory, look for options, and see what is available. Through the websites, it is possible to view the tax and purchase history along with the photos and detailed description of the property. The neighborhood can be checked as well. Along with the websites, many companies have their own mobile apps also. With this technology in hand, people can stay informed all the time without doing a thing. The apps enable the advantage of getting notification of the new relevant properties. Moreover, the buyer can set preferences like, the locality, the area, the price range, etc. Some apps even allow multiple flat owners to put their property information on the portal, helping buyers to survey all available options.

E-signing Services
To aid the multiparty real estate transactions, new platforms have emerged today. These have all the information arranged in an organized way, saving time of the people who are interested. This technology is improving the efficiency in various ways, from simple file sharing to personal task lists to secure and legal e-signatures. It has also changed the scenario of how agents respond to their clients.

Virtual Tours
Now with the help of technology, the agents can provide a visual footage of the property or home to be sold to the buyers, investors, or renters. The interior as well as the exterior of the place can be explored through a smartphone, without having to be present in person. This has made the process very easy. It is especially useful for the people who are in one city or country and are looking to invest in a place at another geographical location. Also, now with the advancement in technology, 3-D virtual tours are possible. These provide an enhanced view to the buyers and leave an impression on them, making it easier for the property owners or agents to convince them.

Predictive Analysis
The future of the real estate consultancies will be defined by this technology. Predictive analysis will target the buyers showing them exactly the kind of property they are interested to buy. It is similar to the e-commerce portals in which people can produce their personalized wish-list. This will improve overall user experience, leaving them with a ‘feel-good’ vibe. This type of experiential shopping has already been used by the retail market to attract its customers. The same can now be done in real estate.

These are few of the many technologies that have emerged or emerging. In the today’s world, anything and everything is possible with technology, from enhancing the already existing services to improve user comfort which builds trust within the clients. New innovations, everyday, have disrupted the world of real estate and are challenging the old ways of working. This has led to the boost in performance levels and set bars very high for all the companies. While it has made the arena easy for the companies, it has also made it swifter for the customers and has made the processes very transparent

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