TMCnet Feature
June 23, 2021

How technologies are changing the real estate industry



Some time ago, real estate was associated with purely offline activities. Property tours, meeting with clients, and occasional phone calls or emails to inform ?ustomers about a potential opportunity. But the rapid technological progress disrupts the field and new inventions could not pass unnoticed for business owners and people using their services.



With recent massive lockdowns and quarantine, the global trend to digitalization is getting even more popular, so let’s see how technologies are changing the industry and helps it to thrive during these unstable times:

Education

The development of learning management systems and the possibility to share knowledge remotely facilitate the educational process. Some years ago the only possible option was to attend offline courses, and now there are a variety of online real estate schools on the market. With their help you can learn the basics, prepare for getting a license or use them as an auxiliary tool in continuing the work. Interactive lectures, personal cabinets where you can do home tasks, pass tests, communicate with your fellows, and leave comments to mentors make the learning even more effective than during physical class presence.
 

CRM systems

A timely and organized communication process is king in such a competitive business sphere as real estate. Once CRMs appeared on the market, they revolutionized our understanding of communication with customers and simplified operations management. Now, this progress even more visible. Apart from having all the information about your customers, their contacts and preferences, and property listings, you no longer need to keep all the actions in mind but set up reminders to arrange calls, and receive automatic notifications about found matches in your database, if you add the new customer or a new property item. The technologies are getting further and smart systems accompanied with AI helps you to get surprising insights about your customers analyzing their behavior. And it goes without saying that marketing campaigns are much easier to run having the CRM system that allows user segmentation to prepare more targeted offerings.
 

Virtual tours

In the nowadays hectic pace of life, it may be hard to always allocate time for visiting different properties, especially if there are too many of them, and there’s no final understanding of what a client needs. But with modern technologies, it’s possible to clarify all the details about a property without leaving your home. You can check videos and photos made by drones to have a helicopter view, of the property, keep an eye on a property in real-time if it has cameras installed. With the help of 3D modeling and virtual reality software it’s you can arrange virtual tours and feel that you are walking through the property in person.
 

Online real estate platforms

Not only do agencies want to have everything in one place. The needs of their customers come Here’s where the development of mobile apps and online real estate platforms come in handy. They allow reviewing listings on the go, selecting parameters for a property you are searching for, check all the photos and necessary documents ( which is especially valid for items under construction). Also, here it’s possible to subscribe for notifications when a new property that matches your filters is added to the listings of available items.
 

Property operations

Thanks to technologies property management and finance operations can be moved online as well. With the help of secure payment systems and e-signature services, it’s safe to draft and sign property-related documents and contracts, as well as simplify invoice handling for renting or selling the property.

While the technical progress has brought many enhancements to real estate and simplified the operation management, there’s still a lot more to come in the future as the technologies don’t remain still and keep evolving every day.



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