Online real estate catalogues include virtual tours of sample flats to give purchasers a better understanding and feel of the place.
With the definition of ‘normal’ changing due to the COVID-19 pandemic, technology has provided unique solutions for everyday problems. Everyone is now connected virtually and this change has permeated into the realty sector as well. Buying a house is usually a very in-person experience from start to end, however, social distancing norms and frequent lockdowns have made it hard for buyers and sellers to interact. The real estate industry has thus adapted to tech-based solutions in order to provide buyers with personalised and virtual real-life experiences that can help make their buying decision easier.
Here are a few new-age technological solutions that the real estate sector is adopting in order to make buying and selling of properties an easier process during this pandemic.
Online Marketplace: Creating a trustworthy online platform to showcase all available spaces is an extremely viable solution of buyers to sort through desired real estate. The online platform can be enhanced with filters that buyers can apply according to their needs and preferences.
Augmented Reality & Virtual Reality (AR/ VR): AR and VR tech have made immense progress and this fascinating technology can definitely be leveraged for house hunting and viewing. Buying and selling of real estate can be made more exciting with virtual reality tours of the enlisted properties.
Personalised Ads: Curated advertisement feeds can be used to show buyers ads that match their requirements. These ads are based on their previous property searches and could be used to sell new and upcoming projects.
Trends and Offers: With technology now available at everyone’s fingertips, it has become fairly easy to predict and be informed about future trends. There are tons of financial and real estate websites that give constant information about upcoming rules and regulations in the realty space and inform potential buyers about builders’ projects. This can help buyers gauge the best time to step into a property deal.
Digital and tech-based solutions will be the future of every sector in the economy and the realty world is no exception. Hence, all stakeholders such as buyers, sellers, investors, and property developers should be open to embracing this digital revolution of sorts as it is the inevitable future of business.
The author is MD, Spenta Corporation