Technology has made things more comfortable than ever for home sellers, buyers, and builders alike. Having access to numerous real estate listings without the hassle of calling an agent or visiting a development office has changed how people are purchasing homes.
Whether you are looking to buy or sell a home with We Buy Cle, you need to know exactly how it is being done and the landscape in progress. Here we look at five ways that technology is changing real estate today.
Virtual Experience of Potential Homes
Virtual reality (VR) is one technology that is becoming more popular among buyers and businesses alike. Advanced builders are already moving beyond photos, and even 360-degree videos, clients are now offered 3D virtual property tours on their devices.
Although virtual reality is still new in real estate, it is almost tailor-made for this market! VR allows users to navigate floor plans digitally, unlike anything on the market. These immersive 3-Dimensions tours will drastically change the pre-construction phase for new houses as potential buyers have a chance to see what the spaces look like before any construction has begun.
Speeding Up your Search
The internet has a significant effect on pretty much every marketplace you can think of. Searching and purchasing online has become so widespread that more buyers are using the internet as a primary search tool. This is great for both sides because of the sheer amount of time saved!
Builders do not have to spend countless hours showing model homes to unqualified buyers, and potential clients get the chance to view a new development in the comfort of their home. Real estate is a fast game, and now with the accessibility of the internet, hundreds of houses are being searched and continuously reviewed; meaning that every second counts towards losing or getting a new home.
Easing the Process
Anyone who has ever purchased real estate is aware that the closing process can take time, inefficient, and frustrating ordeal. However, thanks to data management apps, the entire process can be streamlined, all the way up to electronic signatures.
What used to take months to finish can now take a few days with current technology. Lawyers and financial institutions can transfer required documentation to the land registries instantly, allowing them in return and complete all the settlements digitally.
Blockchain technology has a potential impact in the real estate industry, from buying property to due diligence. Since it is an innovative way of passing information from one point to another in an automated and safe manner, promoting transparency for all involved will be accountable. Given the reality that Blockchain is a decentralised record-keeping technology, designed to instil trust in the authenticity of transactions, it could be used to build efficient solutions for both residential and commercial real estate.
Who is not talking about AI right now? The impact on real estate is going to be big. But how? For starters, there’s a lot of data in housing pre-sales, sales, post-sales, advertising. What if this is all automated?
With pattern recognition, AI technology can predict housing trends, whether specific neighbourhoods are going to grow in popularity, how and what will affect prices. Together, this analysis can help buyers find properties ideal for them faster, making the whole sales process shorter and less painful.