3 MIN READHow technology is changing the real estate industry

Technology has seemed to find its way to every industry in the world even the real estate industry. With technology developing at a fast-paced, anyone in the real estate industry needs to adapt to this technology to be successful at what they’re doing. Discover how technology is changing the property industry in particular below.

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1. Property platforms

With the advent of websites, many property platforms featuring various listings of properties with detailed descriptions, neighborhood information and even photos of the property itself.

Evolve with us at IQI

At IQI, we believe in offering our clients the digital transformation on the development of the real estate industry. With these necessary changes, we are providing an educational platform for real estate agents, thus creating a positive impact on the industry.We are a group of dedicated individuals from a wide range of backgrounds – such as digital marketing, content writing, programming, a combination of talents to strengthen our technology ecosystem to serve the IQI agent community nationwide.

Posted by IQI Global on Thursday, November 21, 2019

Potential buyers will be able to research and gather information about a property in the comfort of their own home. Besides that, it will be even more convenient for clients because of the seamless and streamlined nature of the platform whereby it is a place you can browse, buy, sell, rent, find an agent to even mortgage conveyancing.

2. Social media

Social Media plays a huge role on consumers from different walks of life. It is also an excellent platform for potential buyers to check out reviews of new projects and explore more about a particular area to invest in. In addition, real estate developers can stand to benefit from utilising social media by advertising their properties and reaching out to a wider audience. Social media exposure leads to better branding for any company because it helps to increase visibility and engagement for any marketing strategy.

3. Virtual Reality

Before you go ahead and buy your dream home, why don’t you experience living in your new property first with the help of Virtual Reality (VR). VR technology helps potential home buyers and international investors to view multiple properties without actually going to the property viewing physically. Put on a VR headset and you can experience immersive, three-dimensional virtual tours of different properties. This will consequently help save the clients’ time as they are able to view several properties within minutes.

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4. Augmented Reality

Augmented Reality (AR) is an enhanced version of reality to add digital information on top of a captured image or video. AR technology will make virtual staging a reality, potential home buyers and investors will be able to visualise how the space will look like when it is filled with personalized furniture without having to move anything at all. As a result, agents will save time and money because they no longer have to stage a home before showing it to potential clients.

5. Blockchain

Blockchain sometimes referred to as Distributed Ledger Technology (DLT), is a shared, immutable ledger for recording transactions between various parties. With the use of this technology, it makes it easier for people and companies to perform all of their major real estate transactions online which include legal paperwork, securing signatures and file sharing. This ultimately will help save time and improve the overall efficiency, and change the way agents communicate with their clients.

6. Building Information Modeling (BIM)

BIM is an inventive technology that shows a digital representation of the physical and functional characteristics of a facility. It is used by property developers that showcase pre-constructed projects in an improved way to potential home buyers. Furthermore, the use of BIM technology in a construction project has many benefits such as conflict detection and risk mitigation, optimization of schedule and cost, easy maintenance of building life cycle, shorter project life cycles as well as savings on paperwork and material costs.

In conclusion, with technology moving ahead at a rapid speed and having a huge impact on the real estate industry, we should start paying attention and adapting to it or risk being left behind.

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