Technological advancements have greatly impacted all industries and pushed businesses to embrace new trends. Similarly, the real estate sector has been greatly influenced by changing market conditions. These dynamics have also impacted consumer demands and behavior in the realty vertical. This change has led to recent investments in the development of Custom Realty Sector Technology Solutions.
Every process related to the real estate sector, whether it may be searching for, visiting or purchasing a property; now revolves around enhancing the customer experience with the help of digital technologies. Real estate applications are nowadays built to provide greater consumer insight into the realty market.
These are the Top 10 Trends in the Real Estate Tech sector.
- Realty on the Go
- Click and Tell
- Mobile Push
- Virtual Reality Visits
- Personalized Searches
- Visualization of Incomplete Properties
- Data Management with Machine Learning
- 24/7 Customer Service
- Map View
- Digital Signatures
Let’s take a look at the best trends prevailing in the Realty market now.
Realty on the Go
Software Development for Real Estate has provided clients with a centralized platform to search for properties through Mobile and Web Real Estate Apps. Conventionally, people would have to check classifieds then individually visit the properties or run after realtors to find a suitable property. Now, thanks to this technological revolution, you can find homes that fit your criteria and budget without having to leave your house. Using real estate apps, consumers can browse through all properties, find an agent, buy or sell properties, and also get notified about new listings, all through one device. These apps serve as an integrated real estate platform and have digitized the process of the real estate industry.
Click and Tell
The digitization of the real estate sector has brought forth a number of new possibilities that can ease the process of finding a property. Real estate mobile apps allow users to take a picture of any house in the country and check whether it’s up for sale or not, along with its previous listings. You can also receive additional information as to the number of bedrooms and bathrooms the house has, along with any census data and much more.
Another popular real estate tech trend is the push technology. The real estate sector has significantly benefitted from the combination of real estate mobile apps and push notifications. They have proven to nearly double the client retention rates for the realtors. Push technology is used to send alerts to users, urging them to revisit the app which ultimately helps in lead generation. Push notifications inform the users about any change or update in the properties, they may have shown interest in before. This automates part of the follow-up process and improves the overall engagement experience for clients.
Virtual Reality Visits
Buying property requires a lot of time and patience. Time involved increases much more when the property and the customer are geographically distant. Virtual reality has the potential to avoid these issues by allowing users to visit the property remotely. A potential buyer does not need to take time out and travel to visit properties they are interested in. Real Estate Software solutions help in making applications that incorporate virtual reality. Through these apps, users can virtually tour the property from anywhere in the world, at any time. VR for Real Estate allows the property to be available for round-the-clock inspection rather than at specific time frames. Therefore, both agents and customers can save their time and money while increasing the effectiveness of the whole process.
Some users already have a painted picture in their minds as to the kind of house they want to buy. Using the real estate apps, users can personalize their property searches with specific search filters such as property type, price range, number of bedrooms, number of bathrooms, square footage and neighborhood etc. Are you unable to find any property that matches your requirements? No problem. You can save your choice and receive alerts when similar properties are newly listed on the market. Once you shortlist your options, you can receive additional information for example of nearby schools, shopping centers, parks and much more.
Visualization of Incomplete Properties
Custom Software Development for Realty Sector allows brokers and realtors to showcase the potential of an unfinished property space using Augmented Reality in Real Estate Apps. Using this feature, clients can also view how an empty property will look with furniture and paint of their own choosing. This helps realtors visually present their client’s desired lifestyle. Once a client has already planned how they will use the property space and see how the house is exactly going to look like, the chances of it to be sold off become higher. From client customized viewings and walk-throughs of a property, augmented reality provides transparency, simplicity and clarity to the process of buying and selling of property.
Data Management with Machine Learning
Although immensely demanding, property management is an essential and critical aspect of a real estate business. Artificial intelligence and machine learning have revolutionized the whole process of property management by task automation. Real Estate apps help in managing listed properties, profiles and demands of clients, rent determination and estimation of the market value of a property. They also make it easy to screen potential buyers accordingly. In the realty sector, machine learning is aiding in intelligent business decisions through pattern recognition, for example, to determine information such as when a property or neighborhood will become popular.
24/7 Customer Service
Real estate apps help customers by providing an immediate response to their questions. With the Custom Real State Software Development, you can employ chatbots, voice bots and virtual assistants. Unlike humans, chatbots can operate 24/7 and provide efficient and consistent customer support at all times. This allows companies to provide answers to consumer queries without any delay and also process after-hours customer questions. In addition, providing automatic customer services delivers satisfied users and frees up your time to work on potential buyers.
Viewing properties on a map has become a necessity for real estate apps. A map view gives an overall visual of the entire neighborhood of the property in question, which is essential for a client to view and approve before buying a house. Custom maps for real estate are also developed where instead of typing in and searching for a location, the user can draw out an area on the map within which they want to search for a property. The map then shows available listings in the specified area through markers that can be clicked to access the specific listings. Maps built into a real estate app show the nearest amenities, schools, restaurants, malls, hospitals, crime reports, and school ratings etc. with regards to the searched property.
Custom Technology Solutions for Realty Sector offers digital sign-in sheets that empower agents to get through lengthy paperwork faster; saving a lot of time and effort. Agents are also able to schedule appointments, follow up with leads and share reports with the buyer and seller on the go. Digital signatures in the real estate industry streamline real estate transactions, making it easier, cheaper and faster for sellers, tenants, and buyers to finalize contracts. What used to take a number of days can now be accomplished in a few minutes.
Technology has become a catalyst for change in all areas of the real estate industry and continues to transform the way we buy, sell, and search for real estate properties. While there were issues of connectivity and mobility before, with the help of technological advancements, such concerns have been overcome. Best rated Real estate CRM software systems are helping the realty sector in the digital era.
The incorporation of technology in the real estate world has greatly eased the process of managing, buying or selling a property. Real estate software helps in saving the time, money and efforts of both realtors and consumers altogether. Real Estate Software firms have simplified the tedious tasks of property management and realty dealings to a great deal.
If you are looking to develop a custom real estate solution, then look no further than Techliance. With successful Realty Sector mobile applications deployed, Techliance is better suited for making specialized Property software solutions. Contact us today for a detailed discussion and a free quotation about your idea about customized Real Estate software.