How Did Technology Reshape Real Estate Industry?


A Look into the Tech Methods Used by Realtors

Technology is fast advancing and entering every aspect of our lives, businesses and industries more and more each day. We simply can’t imagine waking up without our smartphone, checking notifications on our social media networks and using the benefits of being connected on the net. The whole concept has hugely facilitated our lifestyle and made things at close reach. In the same fashion, technology has changed the way how real estate works nowadays.

In the past we couldn’t imagine looking for a house online, having a virtual tour, e-signing and so on – everything was up close and personal. That took time, money, efforts and probably some free days off work. Today, the whole situation is different: everything is taking place on the web and the advancing technology enables everything to runs smoothly and in favour of both parties, the customers and realtors. Here is how.

Using Virtual Staging

As mentioned before, the majority of people today are using the net to start their search for their dream house. In fact, that is about 90% of people who have realised the benefits of online surfing and searching for the ideal house from the comfort of their homes. Because of that, realtors use the virtual staging service to show the potential buyers what kind of potential the house they are selling has.

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Virtual staging is a service provided by virtual staging agencies that help the real estate industry to sell houses in a faster and more effective way. The house is digitally enhanced so that it gets virtually staging properties and its vacant space is transformed into a fully furnished space with furniture and other decorative details. It gives the empty house a welcoming and warm feeling that doesn’t trick the potential buyer into making a decision about buying a non-existent house, better yet, it shows them what they can do with the place. As the service is very convenient, most of the realtors find it very useful and deeply impactful.

Using Virtual Tour

The virtual tour is even more advanced than providing virtually staged photos of the house. It is a 360 degrees online tour in the house where the potential buyer can take a look at every angle of the house. The house might be an empty space and only digitally furnished and showcased or it can be completely furnished with real furniture pieces, nevertheless, the potential buyers can tour the property 24/7. This method offers increased efficiency and engagement as virtual technology can present the desired lifestyle.

Using Blockchain for a faster settlement process

Blockchain is, in fact, a public and digital ledger that records all transactions but without a bank interfering as the middle man. This means that the legal costs, as well as the title-related costs, are settled in a faster process than when using a bank. According to research, since the end of 2017, Blockchain is used for selling properties by the real estate agencies.

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Using Push technology

The push technology has been around for years now, but it wasn’t as present in the real estate industry. However, this seems to change nowadays. More and more agencies start using smartphone apps for their businesses so the push technology finds its relevancy here as well. What real estate agencies do is use push technology to send content alerts to a smartphone’s screen and other notification areas so that they can get in touch with users by generating phone calls. Users say that it improves the whole experience of advertising a listing and having potential customers respond positively to them.

Robots in open houses

What the potential buyer expects when looking for a house and working with a real estate agency is immediacy. They want their questions to be answered right away. For that purpose, the use of chatbots, voice bots and virtual assistants have been developed and introduced in the world of real estate advertising.

Using property management apps

Not only using property management software saves time but also it allows realtors to easily access their contacts, property data and tools wherever they are at any time. The realtors can be conducting open houses during mornings then do an inspection in the afternoon while tackling errands in the meantime in the palm of their hands. Without a doubt, a very useful tool that adds to the realtors’ efficiency.

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