When it comes to real estate, there’s no doubt that technology has already transformed how we buy and sell houses. For starters, gone are the days of waiting for weekly listings in the local newspaper. Instead, most of us find our new home via the internet. In fact, 44% of buyers go online first to look at prospective properties. After all, it just takes a couple of clicks and hey-presto you’ve got pages and pages of homes to scroll through. Moreover, you can find out lots of useful background information about a property like it’s purchase history and estimate living costs.
But more than making information instant, digital technology is disrupting the entire process of how we buy and sell houses. Let’s take a closer look at five ways technology is redefining the property market.
1. Mobile technology
When it comes to Generation Y and Generation X, research shows that 65 percent interact digitally more than do ‘in-person’. So, when it comes to looking for a property, this group wants immediate access to information. Likewise, the agent isn’t office-bound to complete transactions making the whole process more efficient and cheaper.
2. Cloud-Based Apps
Let’s face it buying and selling a property is usually associated with being stressful, time-consuming and frustrating. But, a new wave of cloud-based apps is changing the playing field. This effortless technology benefits both the client and the agent. From instant notifications about new properties to helping agents track contracts and disclosures. And, then you’ve got e-signing technology too. In this way, cloud-based apps are making the transaction faster, more secure and hassle-free.
3. Social Media
There’s a reason more and more estate agents are using Facebook to sell properties. Research shows 69 percent of real estate agents use it. And, that’s because it works. Agents can target posts and ads specifically at their desired demographics making it far more powerful. Also, buyers who are 30 or under, are intensely social media savvy. So, it’s not just about googling keywords that describe your ideal home, they’re using property-related hashtags, multiple social media feeds in their searches, and a whole lot more.
4. Virtual Reality (VR)
The buzz around VR just doesn’t want to stop. You can’t deny it’s a perfect match with real estate—clients love it, agents love it—it’s tailor-made for the industry.
So, what can you expect? As a potential buyer, rather than spending your evenings traipsing around lots of properties feeling tired and over it by the end. Instead, you pop on a handset, take a virtual tour and then only visit the places you really like—feeling relaxed & stress-free.
5. Artificial Intelligence
Who isn’t talking about A.I right now? It’s clear 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 all automated? With pattern recognition, A.I technology can predict housing trends, whether certain neighborhoods 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.
What If You Need To Sell Quickly?
And if you’re not tech savvy or you don’t know what a hash-tag is—don’t worry. There are plenty of options available— House Buy Fast has 57 great tips to sell your home quickly here—https://housebuyfast.co.uk/sell-house-fast/
If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.