From the advent of striking stones and sticks for lighting fires to cell phones, launching rockets, smartphones, use of artificial intelligence and high functioning robots, technology has really come a long way, at first at a snail-like pace than taking multiple rapid giant strides.
The evolution of technology has changed the way we do most of the things we tend to traditionally do occasionally.
It has been virtually imbibed in every aspect of our day to day lives and its importance can’t be over-emphasized.
People now do tons of tasks and day to day activities from the comfort of their homes and personal spaces, flights are being booked from smartphones and laptops.
So how has this improvement in technology affected real estate? Here are a couple of modern technologies that have become game-changers in the Real estate industry.
The Use of Smart Home Tech
These days, you’ll hardly see any buyer not aiming to have the smart home feature in their prospective homes. For prospective home buyers, sellers, investors or real estate agents who haven’t hopped onto the smart home trend; here’s the insight you need.
What are Smart Homes?
Smart Homes simply put are just homes equipped with home automation tech. This affords you the opportunity to control home essentials such as lighting, climate, heating, entertainment systems, and electrical appliances all from your smartphone or computer remotely.
Cool? I know right. So let’s discuss the benefits of smart homes in relation to real estate:
- Resale Values: One of the many advantages of the smart home features and amenities is how it affects the resale values of homes and that is definitely one the most important aspects of real estate. A home with Smart home tech has more resalable value compared to a home that has none.
- Amount Of Market Time: There are so many things that determine how long a home stays on the market; price, location, conditions and most importantly, features. A home with smart home technology is twice as likely to sell compared to a house with none.
- Increase in Potential Buyers: The Real Estate market is currently supersaturated with millennial clientele. Most of their life experiences have been dictated by technology. They are mostly looking out for homes with cutting edge technology features.
Due to the major shift in technology in the past few years, nearly every form of transaction (buying and selling) has been done directly or indirectly via the internet. Most people who buy properties often engage in online market research in order to have a clear vision of what they want their future home to be like.
Social media and search engines have been game-changer. To get noticed, your digital marketing game has to be strong. Using SEO makes properties get noticed on the first page of search engines when potential clients are looking for houses available in desired locations. Social media; Facebook ads, photo listing, brand building are also digital marketing strategies that have been known to surpass traditional marketing.
Here are a few things to put in place to have a successful digital marketing campaign:
- Having an Email list.
- Having a user-friendly website.
- Create and Post Valuable Blog Content.
- Create a Social Media Marketing Strategy.
- Host Webinars.
- Up your SEO game.
Use Of Virtual Reality
Virtual Tours have been known to automatically increase sales of properties as it guarantees client comfort and gives value for time spent from both the buyer and seller’s perspectives. Buyers and sellers can check out or create the perfect opportunity to view a house remotely without having to go through any hassle.
Other examples of Technology used in Real Estate are:
Big Data And Predictive Analytics.
Artificial Intelligence And Chatbots.
Loan Management And Insight Tools.
These and many more if properly adopted can keep you at the top of your real estate game for the decade to come.