3 Ways Technology Is Improving Real Estate

Technology has slowly crept into every single aspect of our lives without us even being aware of it omnipresence. It became an integral part of every business niche, and real estate agencies are no exception. However, this business field has only recently started truly implement technology in their business operations. The good thing is that both a lessee and lessor can benefit a lot from this upgrade, but only if done right.

If we take into account that an average person spends anywhere between 10 to 18 hours online per week and that the Internet has become a primary source of information, it is only logical that every business that manages to utilize its potential will prosper. Expanding your business to the online realm will only work in your favor.

So, let’s see how it works.

The perks of being online

For years, real estate businesses were operating solely on the local market. The main means of reaching their target audience were magazine and newspaper ads, or the good old word of mouth. However, by taking your business online and listing your offers on your own real estate portals and websites, you’ll automatically expand your customer base. Pay special attention to mobile marketing, as the majority of population nowadays likes to consume information on the go.

Also, being present online will allow for a better communication with your customers and clients as now you won’t have to schedule face-to-face meetings, but you can manage all communication through online channels.

A whole new experience

Aside from being extremely cool, new technologies like VR, AR and MR can really work in your favor. Thanks to these, the person renting a property can now take a virtual walk through the entire space. This type of inspection reduces the time needed for a tour and allows real estate agents to schedule multiple tours at the same time. Another perk of these technologies is that they allow potential buyers and renters to implement and rearrange virtual furniture throughout the space with a simple hand motion and, that way, see if the place fits their personal needs.

Paperless office

Real estate industry is heavily paper-based with a lot of internal (as well as external) documents that need to be organized and kept in check. Most agencies and real estate companies have already transitioned to using internal digital systems to save time by managing their operations on platforms such as Dropbox, FileSMART or Google Drive.

However, the future lies in online rent payments. And if you’ve ever been wondering can you pay rent with a credit card, the answer is – yes. There are many companies dealing with online rent payment that offer numerous perks to both agencies and renters. The agencies will benefit from knowing that the rent will be paid in a timely manner, while renters are presented with an opportunity to collect various points and bonuses if they pay the rent with an eligible credit card. Since this is still a relatively new concept, make sure to do your research and put your trust in the right hands.

Staying up to date

Keeping track of everything that’s going on in the world has never been easier than it is now. Cloud-based technologies allow you to collect valuable data in real time, which allows you to shape your marketing efforts accordingly. By analyzing collected data, you can personalize your marketing campaigns to fit your target audience’s needs. Knowing what the people you are doing business with need and presenting them with answers to their questions – either in form of quality Q&A, useful content or the right app – will give you a huge business boost. And not only that, but your clients will be able to stay up to date with any innovations or relevant news regarding the property market.

With technology being key in today’s, well, everything, it’s easy to see why we should use it to our advantage as much as we can. Don’t fall behind and allow competition to overrun you, but embrace all the benefits modern technology is presenting you with.

Hey, I’m Rory and I am the ultimate accidental geek.
Born in London I was never interested in technologies until I started a part-time job at Apple and now I can’t get enough. Join me as a help you navigate the world of tech with some of my fellow geeks.

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