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How Technology is changing the real estate Industry

Right from food to fashion industry, technology has shifted how the traditional operations were being conducted. Real estate industry is not an exception.

There is a great opportunity for property developers, residential property owners and commercial property owners to utilize the new developments in technology industry.

For someone who is in the industry of real estate, better understands how competitive the industry is and implementing the latest and advance techniques will help you stay ahead of your competitors.

Here are some of the ways technology has change the space on real estate industry; 

  1. a) Online Listings

A website is like a central place where you connect with your potential customers. Real estate companies have adopted as one way to show case their properties for sale. It helps companies in showing images, property description of the property and allow them to book site visit either in person or though virtual tour.

Having a website as well help your brand to be known through online presence and in local visibility.

  1. b) 3-D virtual tours

Over the recent past, virtual reality technology has sprout and many companies have adopted it in showing casing their properties in a more visible manner than how images on the website display. 3 D virtual tours allow investors to tour the actual property as if it was actual, making them feel as if they are walking through the space in person. This technique helps in saving time, and cost.

  1. c) E-signing services

It is sometimes called digital signature services. This is where the real estate agent makes the real estate documents available to potential investors through their website. These documents include, letter of offer, title deeds amendments among other documents.

These online documentations help in minimizing cost, easy tracking, and it save a lot of time to all parties.

  1. d) Showcase Pre-constructed projects in a better way through BIM

Building information modelling is a new technology in real estate that allow property developers to create an imaginary sort of properties to be built soon.  It is design using 3 D sort of technology and it give a potential customer a more insight of the actual property when built. 

This kind of technology often have very high engagement with customers and high leads generation which contribute to higher sales as property buyers get better understanding.

  1. e) It has changed marketing game through social media

Social media platforms have significant influence on consumer journey and thus a very important channel that real estate agents have adopted in showcasing their projects to potential customers.

Also, social media allows the targeting of audience for possible conversion. 

Through the platform, consumers of real estate get to read the reviews of other customers who have purchased from the realtor. It is where consumers get more information about the property.

Conclusion 

As you have seen, Real estate can implement variety of techniques that are very productive to them and creates efficiency between them and potential customers.

For better service delivery, better visibility of brand, real estate company need to adopt these technological tactics in order to reach and convert targeted audience.