Tech

5 Ways Technology Has Helped Real Estate Industry in 2020

Similarly to any other industry, technology has had a great impact on real estate as well. This is not surprising taking into consideration that it has become an essential part of our everyday lives. From the moment we wake up in the morning, we use smartphones and other devices to complete all sorts of tasks.

We believe that we are yet to see the full impact of technology on the real estate industry. Still, in this article, we are going to discuss some of the things that have already changed.

1. Virtual market place

Source: Gowling WLG

Due to the fact that the Internet is used to advertise and sell all kinds of products, a virtual market place has been created. Each company has a website where they promote all the properties that they are selling or renting. Simply put, this has allowed them to reach an enormous number of clients.

Not only do people have the opportunity to look at the properties before scheduling a meeting with the realtors, but they can also investigate homes and apartments in other countries. This means that it has become very easy for people to purchase a home in almost any country in the world. All they have to do is to find the right company.

What’s more, it has also allowed people to simply list their home for sale online. If you are thinking about selling your property, you can check out this website to find out how everything works. Basically, all you have to do is to contact realtors from your area, provide them with the description and photos of your home, and they will take it from there.

2. BIM of future projects

Source: Bandera County Courier

BIM or Building Information Modelling is a 3D technology that enables architectures and contractors to create 3D images of any type of project that they are currently working on. As you know, many people opt for buying houses or apartments when they are still under construction. This has been going on for decades now, but today, it is possible to present the clients with the complete image of how the build is going to look once it is finished.

We are not only talking about the layout of each room, but also about their size, shape, available area, and design. This is something that has greatly improved the real estate industry because more and more people have become interested in making this kind of purchase. It can be quite difficult for some individuals to visualize how everything is going to look, which is why they usually avoided considering these projects. However, nowadays, this is a thing of the past.

3. Improved customer experience

Source: TechFunnel

There is another piece of technology that has taken customer experience to the next level. Naturally, we are talking about Virtual Reality. We have already mentioned that some people are not so skilled in visualizing the appearance of the future builds, but VR doesn’t only help them with that, it also enables them to experience living in a home before they even purchase it.

Buying a property is an enormous investment, so it comes as no surprise that people take their time before decided to take this step. Even though, implementing this technology requires a lot of funds, more and more companies opt for it, simply because it increases their revenue. Well, since people have the opportunity to experience living in a build before they move in, they are more likely to actually purchase it. Naturally, there aren’t a lot of them who are ready to buy a house online, before investigating it in person, but still, VR has been a great improvement.

4. Smart homes

Source: AndroidPIT

Surely you are familiar with the technology that is used to turn your regular home into a smart one. Nowadays, a lot of properties are being built this way. There are numerous systems that can be incorporated and that allow the buyer to manage almost every aspect of their home via a smartphone app.

They can turn on the heating before they get home, they can manage the entertainment center, and they can even connect security system and cameras via Wi-Fi and be able to watch what is going on at any moment. Also, let’s not forget about smart locks that have significantly improved the security of every property.

If you are not sure what features a smart home usually possesses, you should conduct online research, but believe us, you are going to be impressed.

5. Social media marketing

Source: Webkick

New marketing strategies have completely changed the game of advertising. This is true for any trade, so the real estate industry is no different. We have already discussed the importance of websites and how they have enabled companies to reach clients from all over the world, but social media marketing has become even more important.

These platforms are used by millions of people from every corner of the world. Yes, it is beneficial if the company’s website pops up on the first page of search engine results, but social media platforms allow the realtors to make contact with people that they wouldn’t be able to otherwise. As you know, in order to locate a certain website, a person has to type in some keywords, but this is not the case when it comes to this type of advertising.

There are two benefits to this form of marketing. Firstly, as we have already said, it allows them to reach more people than usual. This means that they are highly increasing their chances of making a sale. All they need to do is to implement the right strategy, add hashtags, and geo-location to their posts, and that’s it.

Still, there is another advantage that helps them to easily grow their company. We are talking about the promotion of new products and properties. In the past, they would have to invest significant funds into advertising via radio and TV commercials or newspapers. However, nowadays, all they need to do is to find a professional who is going to manage their pages and post photos and information about them online. It is as simple as that.

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