Top 3 Influences of Technology on Real Estate


Real Estate is an industry that will never go out of trend. Over time, real properties – whether that be land, house and lots, office spaces or buildings, all prove to be safe and fruitful investments. Although technology is another niche that proves to be a good area to invest in, the two however can go hand in hand together.

In fact, technology has influenced the real estate industry to innovate and make its process a lot more convenient and accessible. It is basically a win-win for both brokers and potential customers – sellers get to find more potential buyers, and buyers get to compare prices and properties even at the comfort of their own homes. Aside from that:

Processing is a lot more convenient

Technology has made a lot of transactions easier and more convenient – that includes shopping, banking, and now even including purchasing real estate properties. This benefits both agents and buyers alike.

For agents, it is now easier to review a potential buyer’s credit ratings through online profiling. Potential buyers on the other hand can now submit their required documents online – requiring only one or two visits to the office after the documents had been pre-approved. This saves a lot of time for both real estate agents and customers – eliminating long lines and huge amounts of waiting time.

Real estate choices and information can be found via apps and websites

A decade ago, it was quite hard for customers to find the best real estate investment because it would require a lot of time and energy to find and compare different types of properties. However today, it is easier for anyone to  scan through online websites or apps to find the right kind of property (with the right price) that is just within their desired area.

This also creates stiffer competition within the real estate industry. Because of the ease of comparing prices, companies will aim to offer the best and most attractive price to reel in interested individuals.

Authenticity of brokers and real estate companies are now verifiable

It cannot be denied that a lot of fraudulent transactions happened before because some unscrupulous agents can get away with overpricing a property or resort to over-promising just to make a sale. Well with the Internet, most of these practices have died down because it is easy to verify if whether or not the agent or broker who offered a property to you is actually a licensed one, or if he/she has a good track record with former clients.

It also works for brokers and agents too. Again with online profiling, it is easier to review an individual’s current credit standing and credit/loan history before they can approve a sale. This also gives agents and real estate sellers the assurance that the buyer they choose is actually capable of paying off the property.

Basically, because of innovation and technology, the real estate industry is safer to make deals and transactions in because everything – from licensing, credit history, property information and other verifications, can be easily done online. Also, the process of buying and selling real estate has become a lot more convenient – with more choices and comparisons that can be done in just a few taps of the fingertips.

photo-gemma-reevesGemma Reeves is a seasoned writer who enjoys creating helpful articles and interesting stories. She has worked with several clients across different industries such as advertising, online marketing, technology, healthcare, family matters, and more. She is also an aspiring entrepreneur who is engaged in assisting other aspiring entrepreneurs in finding the best office space for their business.

Check out her company here: FindMyWorkspace


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