06 Sep 3 Ways Technology Has Helped Real Estate
Technology Is Helping Real Estate
Technology has been a major tool to developing society, but has technology ever had an effect on on the housing market? The answer is yes, and the following will present 3 different ways technology is helping real estate today. The first way technology is changing real estate is by helping condo buyers have more information to know which condominium they would like to purchase.
Following up, the next way tech is assisting the housing market is by helping real estate investors have more access to more properties and funding. The last way technology has helped the housing market is the use of artificial intelligence and virtual reality. Once a potential condo buyer understands the ways these differing technologies can benefit them, they can be put to use in making the condo buying experience faster, easier, and smoother.
More Access to Information to Buy a Condo
Since the boom of smartphones and the internet most people now have a lot of access to information that past generations never had. Potential condo buyers now have easier methods to research a specific a house through the use of different apps and web tools. This has also made it easier for real estate agents to sell a condo.
Now, if a home buyer wants to buy a home after conducting their research, they can easily get in contact with an agent who can help them move forward with their real estate purchase. This has taken a lot of stress off both agents who are try to sell a condo and condo buyers who want access to fast information.
Furthermore, there are companies that now offer agent services or discounted prices that correlate to how much information is already available to the buyer. Even with the use of technology buyers do still need help from agents, but having some knowledge on buying a house definitely helps the process run more smoothly. Through the use of technology and information, both condo buyers and agents find that buying a house becomes a lot easier.
Access to Properties and Investments
Technologies are also helping out housing investors by providing them with more access to investment properties. With different online websites or apps, housing investors now have access to find houses near or at foreclosure. Applications like Zillow have made it easier for investors to locate and buy investment properties, helping improve the investor’s buying experience. In the past only major corporations or REITS had access to these tools, but now they’re widely available to anyone who has the interest.
Another great way technology has helped is by connecting people who want to sell a condo so investors can easily flip the house to another buyer, earning a healthy profit if the flip is quick and easy. Moreover, when it comes to investing, crowdfunding and other web applications have opened doors to investors who previously had limited access to funding.
Now with the use of companies like lending tree and rocket mortgage loans, buyers can be approved a lot quicker. Likewise, these loan companies make it a lot easier for housing investor to receiving funding to purchase more properties. The internet and technology has simplified the condo buying process for both the owner/occupant and the investor buyers. .
Artificial Intelligence and Virtual Reality effect on Real Estate
Artificial intelligence (AI) and virtual reality (VR) are starting to show their potential in real estate by helping buyers “visit” condo without having to actually travel to the location. Most customers in the United States are looking for houses all through the internet, so the reasons are apparent that more and more technologies are moving into the housing market. For instance with the use of artificial intelligence, buyers can take “digital” tours to any home offering this feature without ever having to leave the comfort of their own home.
Automation is also a very helpful tool for agents to use. They can have automated “bots” respond and answer basic questions that an interested customer or client may have. This is very helpful and it saves a lot of time for both condo buyers and the agent. In addition to artificial intelligence virtual reality has helped empower buyers to preview the houses they are interested in purchasing from afar.
With the use of virtual reality, agents can give potential buyers a full condo tour without having to travel and meet up at every house the buyer is interested in. Artificial intelligence and virtual reality, with a society highly connected to technology and the internet, has truly made buying and selling a house a lot easier.
Technology and Real Estate
These three advances in technology have assisted the housing market and are proving to be valuable tools in helping an interested condo buyer find and buy condo. Internet apps provide potential condo buyers a lot more access to information to help them with purchasing a house. Crowdfunding, and lending apps makes purchasing houses in bulk, find properties, and receiving funding more simple for investors easier than ever.
Artificial intelligence and virtual reality make viewing a house and answering questions a walk in the park. Understanding how technology has evolved the housing market is exciting for buyers and sellers alike, and many of us are anxiously looking forward to new advancements coming down the road. Your next house may just be right around the next “digital” corner.