Searching for the real estate property and finding the best agent used to be the norm of a typical house hunt a few decades back and cumbersome for any individual.
The days of efforts put into searching on the streets for a potential agent, taking the precious time out of your schedule to visit properties and searching big spreadsheets to find one potential mortgage lender has gone.
Although technology has touched every sector and pretty much redefined it in every manner, real estate is one of those sectors where technology was embraced later. But now that technology and modern solutions and applications have paved their way into the real estate industry as well, it has started to revolutionize it. From reducing the overall time required for a house hunt to facilitating the user to do a 3D virtual tour of the house, the house hunt is needs little to no effort.
Here are some of the biggest problems of the real estate industry that modern technology has solved.
Agent Search
Back in the days before technology had touched real estate business, looking for an agent was quite a task that mostly required to reading newspaper publications, visiting brokerages and even asking family and friends who had a similar experience with their house hunt. Thanks to some latest mobile apps and other software, finding an agent to guide you with the best options within your budget is not only easy but also transparent. You can not only find a list of real estate agents near your area but also see other people’s reviews about them to have a better idea of their reputation in the industry. When done, you can review the agent and help them get more clients through positive rankings.
Virtual Tours
One of the biggest problems in house hunt used to be visiting the property. Imagine a scenario, you are living in the UK and planning to invest in an apartment in Palm Jumeirah. You ask an agent about Palm Jumeirah property for sale and you get a few recommendations. The plan to visit the property will definitely require you to visit it physically and that will incur a traveling cost as well as a leave from work or some time out of your schedule.
With the help of Artificial Intelligence, Machine Learning and Image Processing, you can conveniently do a 3D virtual tour of the site without being physically present. It saves your time, cost, and brings a list of properties at your fingertips. The same Palm Jumeirah property for sale is now within your reach, with no cost and at whatever time you require.
Speeding Sales Up Digitally
Getting a home mortgaged can be slow, delayed sometimes and too much paperwork is prone to human errors. Today in the world of data processing and digitization, there are many digital mortgage brokers like Habito that facilitate house mortgages online from anywhere around the world using any device. It uses Robo-advice as a technology to enable users to scan the real estate market and come up with the best possible results – in less than half of the time a human agent might take.
Improved Floor Plans
Property technology (or as we may call it, Proptech) has come as far as using lasers to facilitate the real estate industry. Back in the days when floor plans and spatial data was managed by a lot of paper – and hassle, companies like GeoSLAM Ltd provide services to take the paper and hassle out of managing floorplans and spatial data by introducing their handheld laser scanning devices.
The implementation of this technology has made surveying occupied homes a lot easier which used to be both times taking, risky and disturbing to the residents. This method is faster than traditional methods and easier to carry out, solving yet another bigger problem in the real estate industry.