From food delivery apps that can partner with restaurants to customer relations management systems that allow hospitals to better connect with their patients, technology is revolutionizing more than a few industries. Luckily for home buyers and sellers worldwide, the real estate industry is no exception.
If you’re curious about how tech is breaking new ground, check out these six ways that technology is changing real estate. You may also love to know about Showcase IDX San Antonio home search integration.
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The internet is creating new commercial options
Today, real estate agencies can benefit from opting for a cost-effective route of a virtual business address over traditional leasing options. Business owners and real estate agents alike will find that the cost-effective choice of virtual business addresses is a wallet-friendly option. These addresses combine technology with staffed locations to reduce the need for business owners to invest in expensive physical space leases.
Still, those who profit from commercial real estate sales may find that the existence of virtual business addresses could present a unique challenge as they compete with sales for physical locations.
Websites are posting real estate listings
Websites like Zillow, Redfin, and Trulia make it easier for homebuyers to find new real estate listings. Home-buying hopefuls can find new inventories, detailed information, and photos of the interior and exterior of homes at the click of a button. These sites provide information including:
- Home purchase history
- Descriptions of each house or condo
- Data about the neighborhoods
- School ratings
Electronic signing tools
Those who have recently bought or sold a piece of property are no strangers to the fact that paperwork and real estate exchanges go hand in hand. Real estate agents present buyers and sellers with stacks of forms to sign and review to complete a property transaction. In years past, agencies would require clients to visit the agency in person to complete their paperwork. Luckily, new electronic signing tools have made the process much less painful.
Homebuyers can now check their emails to see what forms need an electronic signature and sign the relevant paperwork online. File sharing tools can also effectively simplify the process and allow realtors to stay more organized and save time.
Mobile apps notify users about new listings
These days, most real estate websites like Zillow or Trulia offer customers mobile apps that they can use on their cellular devices. While the average buyer used to require a real estate agent to scan for listings, apps can now notify home buyers of new listings based on their criteria, streamlining the real estate buying and selling process. Moreover, mobile apps help connect buyers and sellers with realtors and assist them with developing a budget for a home purchase.
Virtual reality tools and 3D technology allow for faster home tours
3D technology and aerial images taken by drones have helped virtual reality make its real estate debut. Agencies attempting to sell a property can now offer potential buyers a 3D virtual tour of residential and commercial properties. Consumers can walk through the property in a virtual space without even visiting the location in person, which accelerates the purchasing process and saves everyone time.
Blockchain technology has enabled cryptocurrency use in real estate transactions
Blockchain technology has opened the floodgates for cryptocurrencies like Bitcoin, which you can now use in certain real estate transactions. Cryptocurrency transactions are driven by unique transaction identifications and are non-fungible, which interests sellers and buyers of luxury properties.
Before you go
As market fluctuations rage on and interest in real estate investment peaks, engagement with real estate is at an all-time high. Tools like mobile apps, electronic signing platforms, and virtual reality tours have taken the real estate world by storm and changed the experiences of buyers, sellers, and real estate agents alike.
