As the world becomes more technologically advanced, many industries in our society have seen many changes and improvements. That also applies to the real estate market. Here are some of the amazing ways technology is transforming the real estate industry according to a Danville Realtor report.
Automation in real estate consists of using various tools that help reduce manual labor and deliver better service to clients. Here are the most popular ways automation is being used:
Customer communication. Automation helps real estate companies improve their ability to communicate with customers. Software for email campaigns, text messaging, and marketing campaigns to promote open houses all increase the speed of communication for all involved.
Customer relationship management software. Also known as CRM, this software helps companies gain a complete history of transactions with customers. It is also used to track leads, assist with tasks, and complete closings.
Workflow automation. Workflow management is one of the most common tasks in real estate. It is also the most time-consuming and least productive. While most agents typically spend the majority of their energy processing paperwork, closing sales is how they generate their revenue. Various software programs can be used to automate workflow, which allows agents to spend more time working directly with homebuyers and closing sales.
2. Use of Virtual Reality Headsets
Virtual reality is an excellent way for interested homebuyers to view properties all over the world at any time. Here are a few popular ways to utilize virtual reality headsets:
Virtual staging. Instead of showing an empty home, virtual staging provides the opportunity to show homes filled with furniture. According to the National Association of Realtors:
- 82% of buyers’ agents said staging a home makes it easier for buyers to visualize the property as a future home
- Staging the living room, the master bedroom, and the kitchen were the most important rooms for the buyers
- 47% of buyer’s agents claim home staging had a direct impact on most buyers’ view of the home
Virtual property showcases (virtual tours). A VR headset allows interested buyers (or renters) the ability to experience three-dimensional walkthroughs, helping narrow down which properties they should visit in person. There are two types of virtual tours:
- Interactive visits. Users can click on specific hotspots within the property, allowing them to freely move around the home.
- Guided visits. Guided visits can be created with a panoramic camera that captures 360-degree video.
Architectural visualization. This type of marketing is used to market properties that haven’t been constructed yet. Virtual reality allows potential homebuyers the opportunity to see the finished product, giving them a clear picture of what will be available when completed.
3. Construction That Is Environmentally Friendly
Technology has helped improve home construction as well. Here are a few ways technology has impacted home construction:
Smart-grid appliances. Ovens, refrigerators, dishwashers, and other appliances now have the ability to determine the best times to operate that use the lowest amount of energy. In addition to being good for the environment, they can help lower energy costs as well.
Smart home technology. New technologies have made homes more comfortable and secure. Top smart-home technologies include the following:
- Security systems
- Televisions/home theaters
4. Cloud Integration
In simple terms, cloud integration is a system of tools and technologies that connect many systems, applications, and IT programs together, allowing for the real-time exchange of key data and processes. Cloud integration is also known as cloud-based integration, cloud system integration, iPaaS, or cloud data integration.
There are two primary types of cloud integration:
- Application integration: connects various applications while arranging more efficient functionality and interoperability via data sharing.
- Data integration: data is synchronized between repositories, then processed, transformed, or transported during data integration.
During the pandemic, cloud technology saw a significant increase in its use for remote closings and other procedures that were performed in public. Today it is still being used, thanks to the following benefits:
- Improves customer service, retention, and support
- Increased revenues while lowering operational costs
- Improved operational efficiency
- Increased competitive edge
- Greater scalability and flexibility
- Improved internal communication
Both realtors and homeowners have benefitted from the amazing technological advances in real estate. It will be exciting to see what the future has in store.
About Danville Realtor of Range Homes
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Danville CA is known for its good economy, beautiful landscapes, and extremely popular housing market. When other states and territories have experienced a decline in housing prices the Bay Area, in general, has remained strong. This doesn’t mean you should not diversify your portfolio across many states, but Danville Realtors agree that this is certainly a strong place to start for a novice investor. There are even some great low-cost homes that are ripe for renovation.
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