How technology is changing the face of the real estate industry
Gone are the days when searching for a property was an uphill struggle. Technology has changed the ways real estate agents are working. The digital platforms have brought the entire property buying process under the click of a button.
Check out the technology-driven buying and selling process of realtors like Nobul Corporation and Royal LePage. Their PropTech platforms simplify the process of buying and selling a home through web and mobile applications.
Here is how technology is changing the face of the real estate industry.
Traditionally it was a time-consuming process to hunt for a house/property. With technology, thousands of properties get listed on the realtor’s website. The buyers can sit at home and browse through multiple properties on their smartphones. They can take a virtual tour, compare properties, check prices, talk to the agent, and do many things without stepping out of their house.
Nobul‘s service platforms—both web and mobile applications—enable consumers to search for and hire the real estate agent whose combined services options, pricing, and reputation best suits their needs.
From registrations to payments, buyers and sellers have nothing to worry about because everything has moved online. You can now manage all paperwork and financial exchanges at your fingerprints. The transactions have become seamless, secure and faster.
Traditional renting systems didn’t consider the longest phase in the rental ecosystem. Today the buyers look for houses with complete lifestyle management solutions. With technology, positive interventions and engagements can happen throughout a tenant’s tenure in the rented house.
AI has also made home automation possible. Now residents can manage their electricals with a click of a button. There is a significant transition in the customers’ lifestyle and how they perceive living in a rented space.
AI technology can also help in property management. It keeps track of the systems and alarms the residents when the critical maintenance systems are ready for replacement. Technology proves valuable to keep a check on rental trends in specific zones and alter the tenant rents automatically when leases terminate.
The real estate marketplace and all transactions have become more secure with the help of technology. Fast and secured entries, visitors’ information, alarms are a few features that smart home buyers look for. AI has made all these available for the homeowners and buyers at the click of a button.
Technology plays an important role in cutting down costs on space and logistics. With the PropTech platforms available to you on your smartphones, there is a reduction in office space requirement. The corporates are redesigning their workspaces by using shared and co-space services.
The real-time property information has also cut costs on leasing activities as they are now happening online.
The rental market is expected to see an upswing, owing to the present macro conditions. Moreover, technology is creating a favourable environment for the rental ecosystem by making the entire process easier and accessible to potential consumers.