Technology has been affecting real estate more and more recently, but this trend is increasing daily. The Internet has reshaped the delivery of real estate to consumers and their way of managing their daily lives. Most brokerages have launched mobile versions of their websites, and now many are creating specific mobile apps.
The main problem real estate professionals face today is losing touch with their customers, which is a real struggle in a people-centered business. And through technology, they are gaining back to the customers. Another issue companies face in transitioning their business to be more technologically adept is “cost”, as there are extreme expenses to develop the proper technology.
Here are some latest technologies that work in the real estate industry.
As the marketing saying goes, “if your plans don’t include mobile, your plans are not finished”, the real estate sector has also started entering the mobile world. The entry of real estate into the mobile world has not only opened many doors but has also brought comfort to the palms of the user.
AR And VR
With the entry of Mobiles, there has been the entry of new technology of AR and VR as well into the market. This has opened up the real estate market to a wide range of possibilities, such as:
Giving the builders and buyers a better perspective of their products
Virtual property showcases – virtually visit properties without leaving their home
Architectural Visualisation – to market a property that is not entirely constructed yet.
Virtual instructions for tenants – pass instructions on how certain facilities work.
Virtual commerce – to make changes to what they say.
Not only have google maps started using location tracking, but even real estate has also started with tracking procedures. It is not the same as google maps, but similar. Technology has undoubtedly made real estate sophisticated.
OYO is one example where they use your location to help you find nearby rooms or hotels.
Mobile technology has not only made real estate more sophisticated, but it has also made it more secure as well. Now you can track everything with just your mobile devices in real-time!
Gatekeeping technologies such as ADDA and TheHouseMonk keep real-time track of the people visiting you. They even have the feature of taking photos of who will be calling you, including vendors and housekeeping.
Blockchain being the new age technology, real estate has already started adopting it. Recent startups have adopted cryptocurrency payment methods, allowing you to convert crypto to traditional currencies and vice versa making things easier. Since blockchain is all about transparency, they provide much-needed security in the real estate sector, making it an apt technology for real estate.
Online listing websites make it simple for anyone to view available inventory with photos and detailed descriptions of the properties.
3-D Virtual Tours
The software allows buyers and sellers to take a 3-D virtual tour of a residential or commercial property.
Platforms where you can transact securely and legally, thus improving efficiency and changing how agents respond to their clients.
The real estate business is the fastest growing and most investable, and nowadays, this business is on the shoulder of technology; we can see that many real estate companies are competing online and making themselves strong.