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The only constant thing is change. In modern times, technology has emerges as one of the biggest agents of change. In fact, it is evolving even as I type this.

Computers and the Internet are the two most commonly used technologies and have impacted almost every sphere known to man. They have been enabling entrepreneurs across several sectors to carry our business practices in new ways. The real estate industry is no different.

Real estate technology is evolving steadily and is turning out to be a boon for buyers as well as sellers and agents. And although many may disagree, this industry is turning out to be one of the most tech-savvy industries we have today.

Thanks to technology, it has become easy for buyers and sellers/brokers of residential as well as commercial properties to search for and cover the innumerable territories, and meet the demand for all-encompassing services. Information related to availability, prices, dimensions, and other important details are just a click away.

In this post, we look at how technology has revolutionized the real estate industry.

Websites

Buying, selling and renting property has never been easier, thanks to the emergence of portals that allow sellers to list their properties for sale and enable interested buyers to look for their dream home.

Sellers can use this platform to advertise their piece of real estate by entering pertinent information about it and providing their contact details for further communication with interested parties.

With details about the propertys price, location, size, amenities readily available, it becomes easy for buyers to shortlist them according to their preferences. They can use the various filters to look for a property that fits their budget and get in touch with the seller.

Images and Videos

Looking for a property but find it cumbersome to physically visit the site to check it out? Now theres no need to go through that hassle (at least not immediately).

Geographical limitations are a thing of the past with technology enabling people from city A to view properties in city B.

Simply visit the builders website or the property portal where you saw the advertisement and click on the images. You can also watch the video of the property for a 360 virtual tour to get a better idea of what it looks like and decide if it is something you may want to go for.

For putting up images online, simply use your camera to click them, connect it to your computer and upload them to the Web. Alternatively, you can also shoot a virtual tour and upload it to online platforms like YouTube and send the link to your customers.

Mobile Technology

The advent of smartphones has changed the way real estate professionals and customers have dealt with property transactions. With built-in Internet capabilities, camera/video systems and access to a plethora of apps, including GPS and maps, it has become possible to use it for much more than just making calls, or sending and receiving SMS and emails.

Whether it is making notes about the property, emailing images and videos to customers, or syncing their phones, tablets or laptops with wireless printers to send out facsimiles, its all possible due to technology. In fact, certain software systems now allow for contracts to be sent out and signed electronically.

As far as customers are concerned, a lot of young prospective buyers have taken a shine to using mobile technology in their home-buying endeavor, as it gives them instant access to all the information they may need to make a sound decision. They use their Internet-enabled smartphones to acquire the details and images of the property without having to approach a real estate agent.

Even if you do approach an agent, you can register with them to receive details of relevant listings as soon as they come into the market on your phone.

For realtors, mobile technology is a boon as it connects them to a burgeoning audience base to promote their offerings and increase brand awareness. It also allows them to set up client information databases and carry it with them everywhere they go, especially when theyre out in the field.

Importance of the Cloud

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Thanks to the cloud, you can now access all your information whenever you wish to. even when youre on the go. All you need is a mobile device or a laptop and an Internet connection.

Cloud-based software and apps are the way to go for storing, tracking and accessing important property-related information, documents, contacts, schedules, contracts, and disclosures when on the move.

Banking Technology

Ever since banks introduced facilities that enable online transactions, deposits and statement inquiry, both real estate buyers and sellers have benefitted from it. And so have the banks. Not only has technology made it easy to make monetary transactions, it has also made it simpler for banks to create awareness about their various loans and schemes.

All the information pertaining to them like the procedure for applying for them and availing the benefits is available on the respective banks website. The ease of accessing readymade information and carrying out transactions could be one of the factors that drive people to buy property.

Conclusion

With the real estate industry continuing to derive benefits from the best available technology, its greatest purpose of enabling information sharing and bridging the gap between demand and supply by connecting buyers and sellers is testimony to the fact that technology has been instrumental in improving the overall processes in this industry.