In every step of buying a house in the age of technical knowledge lest technology plays a major role.
The trajectory of investing in homes has increased tenfold in recent years and this is to be credited to the advancement and incorporation of technology in real estate. Traditionally the operation of real estate has been human-intensive but this has overturned and now a record number of people have started to search property online. This shift has intensified with the advent of a pandemic since it is safer and more convenient, it also has resulted in the dissolution of exploitative middlemen or brokers with the online listing. Countless perks come with the online listing of property of the many, get a satisfying aerial view of the compound.
Has the Real Estate business arrived at a new era of technology-led change, though?
Definitely, it has, but to many observers, It is still hard to process that barely a few years ago it was entirely dependent on newspaper and other listings, real estate brokers, and word-of-mouth advertising to find a dream home for everyone. The cycle of time of change in the real estate market, more and more property hunting has reached to web search and inroads of Protech has reached new heights.
Property technology or PropTech especially in India is still a nascent concept and is in an evolving phase. Though it has been in a slow-growth process the path to easing all legal complexities has taken shape. According to a JLL report, India registered 77 PropTech deals, the highest recorded in the Asia Pacific region since 2013. With the global crisis of social distancing around the corner, property searchers in India have opted for virtual platforms, and PropTech has emerged as the lifesaver for all home-buyers. How does PropTech or the web listing of property functions? To simplify the modus operandi of most PropTech they are driven to facilitate the research, purchase, sale, and management of every transaction. All such dealing is also perfected with the advancement of technology and integration of Artificial Intelligence.
The real industry has revolutionized its technology using the following:
Integrating AI in all operations of Real Estate dealing has not only simply the business but indicated accurate results. For instance, experience virtual reality tours of the property to find the dream home, online transactions, and paperwork are some of the advanced technological innovations that are redefining the industry. Drafting online contracts between builders and buyers is turning out to be the new trend, thus easing the process of real estate transactions.
This integrated technology aims to provide seamless business opportunities for the Real Estate industry. With the ability to convert blueprints into 3D renderings, it helps home-buyers to note the measurements of a home or property. Thus, AR has become an incredible advantage to both real estate and homeowners.
With the introduction to technology in real estate, most developers are now using cutting-edge technology of which virtual reality is of prime use. Even at every advertising of real estate property, all brands are choosing virtual reality. With no doubt, virtual reality technology is about to be fully implemented.
- Robotic Process Automation
By using modern technology, it is easier for real estate executives to assist house-buyers to make better decisions. Now get used to the advantages of technology to receive robotic automated help when searching for new smart homes.