How Technology Helps In Buying and Selling Property
There’s a plethora of PropTech tools and platforms that allow you to visit a property sitting at home. There are marketplace platforms like Nobul for example, where people can connect with agents, browse properties, and get quotes.
Thanks to the digital revolution, the buying and selling process has become much more convenient, especially in COVID times, when we could not step out from home.
From daily grocery needs to high-end fashion, everything is accessible with a click of a button.
But, are you comfortable buying and selling property online? Real Estate transactions are big and time-consuming. You may think such transactions can’t happen with a click of a button.
The good news is that now real estate transactions happen without the buyer ever stepping foot in the property.
Most of the property transactions begin with a buyer searching a property or a real estate agent online. The new generation is quite comfortable with the internet and prefers digital interactions.
How PropTech helps you in the buying and selling process?
All at one place: PropTech has simplified your real estate journey by bringing everything under one roof. You don’t have to look for a property agent, owners, lawyers, buyers, and sellers at different places.
Virtual Reality tours: Virtual Reality and Augmented Reality has made online searches and property buying experiences more real and exciting. PropTech applications like Nobul and Trulia let the buyers get a real feel for a home while sellers can alleviate any fears of having anyone come into their house. The process also saves a great deal of time and money for both parties.
Organized process: Documentation and legal work in a real estate transaction is a tedious process. There are high chances of frauds without an organized and structured process for documentation and paperwork. On PropTech platforms, agents and property managers can utilize the cloud to access documents and track trends in an organized way.
With AI, buyers, sellers and agents can save time, minimize error, and transact transparently.
Personalized and targeted ads: Digital platforms allow you to save a lot of time by showing you personalized ads. You can avoid looking at each property in your locality without having an idea about its specifications. For example, you might be looking for a house with several bathrooms, proximity to other utilities, and other metrics.
Price Parity: Real estate agents often rely only on one locality for making price estimations for properties. With AI, they can make better comparisons and estimate prices better than before. The PropTech platforms’ algorithms consider many factors for price calculation. Hence, helps buyers make more intelligent and smart real estate purchases.
A visually appealing and clutter-free real-estate website has improved the way buyers and sellers make real estate transactions. Without place and time constraints, visitors spend more time on these platforms, pay more attention to details, and increase the likelihood of buying or selling properties. Real Estate agents and managers can attend to multiple clients at one time through the PropTech platforms and increase their chances of closing a deal with one.