After the COVID-19 pandemic swept across the world, the real estate market experienced a series of changes that are reshaping the future of property for good. It’s still too early to know which of those changes are temporary and which ones will be structural. One thing is for sure, though: the acceleration in the adoption of real estate innovations will drastically change the way the industry conducts itself.
That doesn’t mean that the real estate sector was stagnant in its tech adoption. Today, real estate agencies are going through a digital acceleration process that’s highly dynamic and will bring numerous changes to how we rent or buy properties.
#1 Artificial Intelligence For Better Services
AI is revolutionizing practically all business job function email list activities, and real estate is no exception. Proof of that is the widespread adoption of chatbots across real estate agencies to help with customer service. Through these intelligent assistants, real estate agents can automatically answer questions, filter prospects, and provide a better experience overall.
But that’s far from being the only use of AI in real estate. Thus, AI provides better services for consumers and agents alike, a huge reason why so many agencies are already using it pushing AI to a standard proptech.
#2 Blockchain for Smart Contracts
Blockchain has become an important what are the advantages of swot analysis? tool in the real estate sector and beyond. The decentralized, immutable ledger creates transparency in transactions in the industry, as well as offers efficiency and increased security.
Smart contracts, which leverage blockchain technology, can facilitate quick and seamless transactions, automating the process of buying, selling, transferring, and marketing properties. This reduces the amount of time involved and makes the process more cost-effective at the same time.
#3 Virtual Reality For Showcases
While pretty much all potential buyers will search for online photos and information about a property they are interested in, it’s obvious that they’ll want to visit it as soon as possible to have a better idea of the property itself. Sure, nothing can replace an in-person property visit but, with virtual reality, real estate agents are as close as they’ll ever be to an alternative.
Through the use of VR boxes, real estate agents can provide a more faithful representation of a property than they could ever provide with images and descriptions. Virtual reality brings both spatiality and an exploration component mobile list that allows renters and buyers to have a better idea of a property’s layout and details. Thus, anyone interested in a home can check homes from the comfort of their own sofas and shortlist the ones that they liked best.
What’s more, a virtual tour of a property can embed details about the construction as well as layers with additional information (such as the electrical installation or the plumbing). By doing so, real estate agents can limit the number of visits they have to arrange (and reserve them for truly interested people). As for consumers, checking homes anywhere and anytime is an unbeatable experience that can help them make up their minds about a property in the most comfortable way.