What Happens When Technology and Real Estate Come Together?

by Emily on April 16, 2018

in Articles

Everyday technology is becoming a source of change in all businesses, and the real estate industry part of the difference. In today’s world, everybody is connected, meaning companies can run anywhere. Whether you want to buy, rent or sell a house, all you need to do is go online and look at the available listings. Technology plays a huge role in the real estate industry. In this article, you will learn how technology is changing real estate.

1. Online Listings

Websites make it so simple for people to see what is available in the market. You can be able to get clear images and detailed descriptions of all the available properties. If you want to view a house personally, you can get a satellite view of the house and get all the necessary directions. If you are running an online real estate agency, you can use an order management system to ensure that you can get information about all your potential clients.

2. Mobile Applications

Most of the websites with property listings have mobile applications as well. The good thing about mobile apps is that you get informed without doing anything. You just get a notification on your phone telling you of the latest updates that fit your exact criteria. Furthermore, mobile apps can help you budget and reach agents faster.

3. Virtual Tours

Apart from the photos, there is new software that allows both buyers and sellers to take a 3-D virtual tour of either residential or commercial property. The essence of this tour is to make you feel like you are walking in the exact space in person.

4. Putting Together All Internal Processes

Real estate is an industry that deals with so many documents. Keep in mind that you need to keep proper track of all the records. Most real estate companies are using electronic document management systems. Real estate agents save much time managing their documents using digitized systems. Financial transactions have also been made easy with cloud-based accounting software and other online banking tools. All the information is stored securely, and the accounting costs minimize.

5. Online Investing

Real estate investing is on the rise again. Online real estate investing is becoming the ideal investment option for many people. The reason for the growth is that it is more efficient than the traditional real estate investing. Online real estate investing is a brilliant idea because of the transparency. Most of the available online platforms have in-build tools that allow people to analyze the risks, do market research and assess the valuation of property.

6. Internet of Things

Organizations are allowing realtors, owners, and agents to monitor their property in real time. The buildings can send out reports pertaining security, the status of equipment and building temperature. Furthermore, technology can call the police or fire department in case there is an alarm. In commercial buildings, when there is space that is either available for sale or rent, technology sends data to potential customers.

7. Leasing Efficiency

Many real estate websites help professionals get leasing tools that make their work more efficient. Having most of the things like floor plans, data and availability in a single application is a milestone for the real estate industry. Instead of printing out large documents that show availability or pricing of a specific house, all the information is uploaded to a cloud storage. From there, everyone can access it from anywhere and at any time.

8. Marketing

Sharing your company marketing message has become much easier and cheaper. So many websites have given professionals platforms to send their messages in just seconds. The days of carrying out the door to door marketing are far gone. Nowadays, you do not need to meet your potential client for the deal to go through. Everything is done online.

Conclusion

The moment you look at technology from a different angle and see how it can create transparency, efficiency and make people a lot of money you can be able to tell that there is so much potential in the real estate sector. Technology is already impacting real estate, and there is still more to come.

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