Are you someone who is looking to sell their house online? Have you heard about how real estate technology companies are changing the real estate game and want to know more about it?
Real estate is one of the most thriving businesses and will continue to be as long as humans are here on this earth. Technology advances make the home buying and selling process easier and faster. It helps reduce paperwork and in-person home inspections.
Continue reading if you are looking for more information on how technology is changing the real estate industry.
Tech Companies and Real Estate
It is no surprise that big tech has branched out into real estate and other industries such as health and finance. Technology has advanced so much in the past two decades alone, significantly benefiting the real estate industry.
The main objective for real estate technology companies is to provide sellers, buyers, renters, and agencies with powerful tech that makes the whole real estate process easy. With new ways to conduct property searches and purchase buildings, the possibilities in real estate technology are endless.
Searching for your next property is so much easier with the advancement of technology, allowing you to view properties and connect to agents. The experience for buying and selling is streamlined, and you can even view properties in 3D.
The use of virtual reality increased in popularity due to Covid-19 restrictions. Most properties could not open tours to the public, so they veered more towards virtual showings. The computer-generated simulations allowed potential clients to explore and interact in a 3D environment without leaving the comfort of their own home.
We all know that pictures can speak a thousand words, and they can also make or break if a house sells. When you have photos with improper lighting or low resolution, you are most likely to have a client be completely turned off from wanting to see the house in person.
It is essential to highlight the important features such as the fantastic backyard or the beautiful spacious kitchen. 3D tours with virtual staging can also help potential clients see how they will fit into the house.
Keep in mind that although the inside of the house is important, the outside of the house is just as important. Drone photos and videos can also help people see the complete picture of how your listings look. Not only do they help see how the property looks, but it also shows your clients that you are tech-savvy and up to date with the trends.
Customers constantly use smartphone apps to find what they are looking for, which plays an essential role in the real estate industry. These apps help customers search and view multiple properties without having to be at those locations physically.
Smartphone apps also allow customers access to any information they need about the property at any time. Smartphone apps for your real estate business also help save on time and resources used in traditionally conducting business.
Companies like Hommati have implemented the best possible smartphone app for people to view houses in their area or the area where they are looking to move. The app allows people to set alerts for when a house with their desired wants and needs in the area they are looking into becomes available. That and so much more are available through the Hommati app.
Real estate technology reaches beyond the home buying and listing process; it also includes the innovation of smart homes. Smart homes constantly record data and gather the information that a real estate agent can use when promoting their listing.
Smart home technology can record the medium temperature of the house and the cost of electricity. Efficient homes that allow you to control the house's temperature and when your sprinklers go on and off are in high demand.
Not only are smart homes great for cost efficiency, but they are also great for security monitoring. You can control every sensor, light switch, and alarm system all from your smartphone.
A real estate agent can show the prospective tenant how to use the app either in person or via a video in the listing. Your potential client can have the confidence that their new home will be protected by gas detection systems or theft, whether they are home or not.
In the past two years alone, millennials have been the most prominent group buying homes, and they are predicted to remain the most influential group throughout 2021.
Millennials, the largest group of new homebuyers, introduce the niche for tech-savvy listings within suburban areas that are safe and affordable. Online real estate listings will become more critical in the years to come as more and more people are looking for houses online.
Making sure the information on the neighborhood that homes are being sold in is essential for potential homeowners. Many people move because of their job, and some move to be in certain school districts.
It is vital to ensure that the information is accurate and up to date so your clients will not have to search for that information elsewhere. Mentioning the local stores and other facilities that are nearby are also a great way to entice people about the property.
Artificial intelligence can help businesses and people make better decisions by sorting through large amounts of data. Specific algorithms can help clients find a more accurate listing based on their needs.
Here are certain factors that potential buyers consider:
- Local climate
- Sunlight hours
- Transportation options
- Local entertainment
- Parking space availability
As mentioned earlier, some people move because they are looking to have a better environment for their children.
School districts and bring close to work can make or break a deal. Artificial intelligence can crunch these factors and provide you with the most accurate information regarding the suitability of a location for your clients.
Real Estate Transactions
The best real estate technology allows buyers and sellers to complete transactions virtually. Appraisals, inspections, and notarizations are able to be achieved with the combination of online and video document sharing.
These new methods make it so much easier and faster for all parties involved in the homebuying process.
Will Realtors Be Replaced?
Although technology makes it easier for customers to find their homes, it will not cause real estate agents to go extinct. Realtors are still an essential part of the home buying process, because they have the negotiation skills to get you what you need. They also have an insight to the area you are looking in to, so they know what options will best suit you and your needs.
Agents also have a vast amount of knowledge that they can use to get you a great deal. Real estate agents nowadays are leveraging technology to reach potential clients and guide them to help them stay organized, since purchasing real estate can sometimes get confusing.
If you find yourself lost, make sure you lean on your highly rated real estate agent. They will be able to keep you organized and well informed of the next steps.
Technology is not only changing how agents sell homes but also how they sell themselves. Social media plays an important factor in advertising and marketing. Social media can help to reach more tech-savvy customers looking to purchase homes.
Clients also appreciate the increased access to their agents and mortgage lenders when they can connect with them on their phone via an app or mobile-friendly websites.
Online leads are also growing in numbers as more clients are looking to reach out to agents digitally. Agents must connect with those online leads as soon as possible, so they do not miss out on a potential sale.
Did you know that real estate investing is now taking a cue from crowdsourcing? Crowdsourcing is when a group of people pool their money together to achieve a goal.
Most crowdfunding pools are charitable. They are created to help those needing to pay for emergencies that they would not be able to afford on their own.
You can also have a crowdfund pool for investments such as real estate investments. You and other like-minded individuals can contribute money in exchange for a share of any profits that the real estate investment makes.
Real Estate Technology Companies
Real estate technology companies, like Hommati, make it so much easier to purchase your dream home. When you are searching online looking for a new home, you will see so many options available to you.
We, here at Hommanti, created a way to simplify the home search process so you can find the house of your dreams. Contact us if you have any questions about our website.