It could be a sign of the times that the real estate industry is relying on technology to conduct business, or it could just be the result of the COVID-19 pandemic. Regardless of the reasons that sparked the industry’s change, the changes in how we buy and sell houses are here to stay.
If you’re thinking about entering the market, here are a few ways technology can improve your experience.
Online listing sites
For most buyers, the housing hunting process starts by using an online listing site to look for houses in our area. These online listing sites give real estate agents a place to advertise properties in all their glory. The sites have photos of the properties, a rundown of the home’s features, and so much more.
Property information
Online marketplaces are a great starting point for buyers, but sometimes an agent won’t list the property’s details in a way that the buyer can easily understand. Thankfully these sites utilize AI to make the information easier for laymen to read, understand, and analyze.
Virtual viewing
Not only can we start our search online, but real estate agents also can post virtual tours of their properties. Prospective buyers can use virtual tours to get a better idea of the home’s layout, the flow, and even a better look at the various features of the home.
Agent matching
Online listing sites are a great tool to start your house hunting journey, but you’re going to need a real estate agent to walk you through the finer details about the buying process and negotiate on your behalf when you do decide to sell. Instead of browsing the phone book and calling just any agent in your area, you can use an agent matching company to find top-rated agents with extensive knowledge about the industry and your area.
Note: Keep in mind that while agent matching databases are helpful, you should always take the time to interview a real estate agent prior to signing any contracts with them.
Mortgage and financial tech
Financial tools are a huge help for both buyers and sellers. These tools can help people budget for closing costs, they can get an estimate of how much they’d need for a down payment, how much their home is worth, and so much more. Just be aware that the financial planning tools are just that – tools. The real dollar figures will be different, but it’s always nice to have a ballpark idea.
Technology ushers the real estate industry into the 21st century
Technology has touched just about every facet of our lives and countless industries have embraced tech to some degree. While it’s true that these technologies have been used before the COVID-19 pandemic, the pandemic has shown us that these technologies are here to stay.
It’ll be interesting to see how the industry will evolve in the years to come.
