Real estate has been one such industry which hasn’t altered the way the business is run. The industry has always been slow in adopting changes or in accommodating any new technologies. But the way the world is changing specially in terms of digitalization, has convinced the industry leaders that adopting new technologies is the only way ahead.
Digitalization in real estate sector has been slow but is surely picking up its pace. With digitization creeping up in every industry, real estate could not be left far behind. Below are some of the digital trends adopted by the real estate sector which has completely transformed the industry.
- CRM Tools – CRM tools has shown the industry how data analysis can transform the ease of doing business. It has also ensured better management of resources. From showing potential customers and his interests to making market predictions, CRM tools have worked wonders for real estate sector.
- Augmented Reality – A technology which combines virtual reality and real world content. It is being used to show potential customers how the property looks like through virtual tours. Though the apps of AR have not come into wide usage yet, many experts believe Augmented Reality will influence the future of the real estate industry.
- Smartphone apps – Smartphone applications has become a must for everyone and everything. It ensures mobility and takes away the factor of time, distance and travelling. It allows the ease of accessing property details or necessary documents or any tools at any given point of time.
- Smart cities – The industry leaders have realized that smart cities and buildings are the future. All the major developers and builders have at least one smart city project under their name. People look for property to invest which fulfils all their need and therefore are much in demand nowadays. Smart cities are enabled by latest digital technologies enabling a ease of living for its inhabitants.
- Digital engineering – Prop tech companies in India are increasingly using advanced technologies to create drawings, simulations and 3D models. This has enabled the companies to deliver savings and efficiencies throughout the project life cycle. It also enables them to focus on important issues and reduces the risk of rework.
- Automation tools – With the ‘new normal’ being re defined in so many ways, the implementation of automation tools is the need of the hour. Automation security tools like visitor management and biometric scanning or using QR codes for entry and exit are some of the tools that are being widely implemented. Even automated sensor based elevators are being used extensively to have a touch less experience.
Read ‘Cracking the Underneath’ – a guide for digital entrepreneurs to use SMARKETING approaches effectively to boost their sales.
Though property buying selling or renting is going to stay a physical affair forever, the future of real estate transactions is digital and mobile. To gain an advantage over the competitors, one being in business should become an early adopter of the innovative technology trends.
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