Having all relevant information available at the click of the button has made the entire home search process a lot easier. Without spending a lot of time or money, buyers can easily gain access to thousands of property listings in the local market. Unlike other industries, where technology adaptation has progressed quickly, the real estate industry has been slow in adopting the latest technology trends, such as artificial intelligence, augmented reality and big data.
The use of these technologies in the industry is still in the initial stages but they are being implemented to make the home searching process as seamless as possible.
Graana.com, Pakistan’s smartest property portal, explains in detail how technology helps in the home search process.
How Technology has Improved the Home Search Experience
In the past, this whole process was in the hands of the real estate agent; you would only see properties that he or she would show you. But now things have changed, as technology has simplified the house-hunting process.
However, there is still one area where this home search lags: user personalisation. For instance, a website like Netflix knows exactly which type of movies or series you would want to watch. On the other hand, you face information overload on property websites when you have to go through various property listings to find the home you’re looking for.
As people look for greater efficiencies in property websites, Graana.com has created a system that allows you to filter properties according to price, area and the type of accommodation you’re looking for.
Following are some of the ways technology has revolutionised this home search process.
Gone are the days when you would have to make calls to agents or drive around the area to find a vacant house. Different property portals have a series of property listings where you can find the home you’re looking for. These portals also allow you to filter out those that do not meet your personal preferences in terms of size, price and amenities. Consequently, you will be able to narrow down the house search without wasting any time or resources.
These portals also give you the option of comparing one property with another, hence, allowing you to make an informed decision.
Another advantage of a property portal is you can view listings with pictures, making it easier for you to find the right home for your needs. These websites usually have useful information regarding hospitals, schools, banks, restaurants etc. to be familiar with a specific neighbourhood.
Virtual Home Tours
Nowadays, property website also give the option of 3D viewings. People who are unable to see the property in person especially can take advantage of this feature. These virtual home tours provide an immersive walk-through of the property to make this process easy for potential homebuyers.
You can also utilise the Google Earth tool that gives you a satellite view of the area.
Understandably, many homebuyers would like to visit the property to check if there are any issues. However, with the help of these virtual tours, you can receive pictures and videos of the house from the sellers to ensure that you are aware of any shortcomings.
Meeting Real Estate Agents
When you can pick a home digitally, then why not use technology to pick a real estate agent too? In the past, people used to rely on referrals to pick real estate agents. Today, homebuyers can check online reviews of an agent on the company’s website or social media platforms before hiring one.
Types of Technologies Used in Home Search
There are different types of technologies used in the real estate industry, some of which are listed below.
Augmented and Virtual Reality
During the Covid-19 pandemic, it was practically impossible to view a house in person. Thanks to technology, agents were able to give a complete tour of a property to potential buyers. With augmented and virtual reality, you can still get the real ‘feel’ of a property.
Just like in other industries, Big Data is used in the real estate market to assist professionals in creating marketing strategies and offers for potential clients.
The real estate market gathers a large amount of data that can be used to find the best properties in an area. For example, predictive analytics can be used to map out consumer behaviour and find the best leads for agents.
Tech giants like Spotify use these analytics to know the genre of songs that a user would like to listen to. Similarly, real estate agents can use it to know the type of property a customer may be looking for.
Artificial Intelligence (AI) is revolutionising every industry. From chatbots to email automation, AI is changing every aspect of the real estate industry as well. The task that used to take up so much of an agent’s time is now automated. In this way, agents can devote their resources to other areas that require attention.
All these technologies are greatly changing the landscape of the real estate market, and it is best to be aware of how technology is helping in the home search process so you can utilise the different tools available.
To know more about technology trends in real estate, visit Graana.com.
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