How Did Digitalization Transform the Real Estate Business?

Digitalization in Real Estate

Convenience may arguably the top benefit of digitalization in the daily lives of the people. Saving time and effort became possible through the growth of technology. The business sector is one of the major beneficiaries of digitalization as it opened companies to innovate and utilize new processes to provide a more effective and efficient products and services to its customers. However, real estate begs to differ as it is one of the last markets to embrace technology. Despite the sector’s late adoption of technology, digital trends in real estate have seen a major transformation over the recent years.

Traditionally, it is common for real estate businesses to market their products by setting up booths in commercial areas like malls. In their booths, you will see a diorama that visualizes the fully developed real estate property to its potential investors. However, this poses difficulties for the potential buyers to have a perspective of the amenities and interior of the property being marketed by the real estate agents especially if it is still in development stage.

If you are still undecided on your real estate purchase plans, it is inefficient to ask an in-depth detail of the property you are eyeing. The hassle is not only on the part of the buyer but also on the real estate agent. Usually, it requires the physical presence of the potential investor when explaining the details of the property especially during the tour. Aside from this, additional meeting would be necessary to have a clear discussion of the payment terms and other conditions to be undertaken upon purchase. But worry no more, digitalization made real estate marketing easier for agents and investors.
Here is a list of the top digital trends in real estate.

Application of 3D Modeling, Rendering and Virtual Reality

Perhaps, this is one of the most useful and innovative digital trends in real estate. Construction in progress should not be hindrance anymore to provide the potential investors a realistic façade of the real estate being developed. With 3D modeling, the planned structure and appearance of the property is turned into reality. Customers can easily visualize the interior of the building and its finished appearance as these are necessary in deciding whether to invest on such property. The rendered 3D model of the property exhibits a realistic appearance of the real estate in which you can easily change its interior design or alter the details if there are planned adjustments or when showing the possible alterations that can be made to fully suit your preference. Another benefit of 3D modeling and rendering is the convenience of visualizing the interior design possibilities of the area.

With such technology, you can easily drag and remove furniture and ornaments, or even change the color of the walls through a click.

Another technological breakthrough is combined with 3D models. Virtual reality is becoming a hit for real estate companies especially in Western countries. Before the pandemic, this is one of the digital trends in the real estate which is in the process of being adopted by the sector. Its huge impact is seen this pandemic. The protocols prevented the movement and interaction of people. With the help of such innovation, virtual tours became a thing and provided solutions for real estate businesses to thrive and continue its operations even through remote means. From its name, virtual reality, it simulates the actual reality with the help of hardware and software. Instead of requiring the physical presence of the potential buyer, this alternative changes how tours are conducted. Through a device or a software, a potential buyer will be able to gain access of the finished property through virtual means. This will save time and effort of going to the site just to check and gain the feel of the environment and have an idea on the possibilities and limitations of the interior appearance that can be done to the property. For real estate agents, this makes their work less tedious because not all customer queries equate to sales. Hence, the repetitive tasks of introducing a property to a potential investor is lessened through virtual tours and other technological means.

Digital Media Marketing

The real estate sector is being considered as one of the late adopters of technology. However, the pandemic highlighted the huge impact of digital media in remotely marketing products and services. This demanded the sector to adapt and thrive in the continuous changes of how businesses are conducted.
Probably, majority of the Filipinos have internet and social media. With the incorporation of marketing on such platforms, products and services have a wider reach. In social media, you can hire influencers or make a more enticing advertisements which will catch the attention of potential customers to avail your products and services. Your business website may provide the basic details regarding your products. In the case of real estate business, you can include the payment terms and conditions available which helps the potential investor in his or her decision-making. You may also include the locations of the properties being sold by the real estate developer like condominiums or house and lots.

If you are interested in buying a residential property, you may want to visit Bria Homes. It offers varying types of residential properties on different locations which may suit your preference and budget. It also offers flexible payment terms through Pag-IBIG Housing Loan. By visiting the site, you can navigate and find the basic details you want to know to aid you deciding whether to purchase the property.

Business Analytics and Intelligence

This may be the most underrated digital trends in real estate that is often overlooked. Perhaps, this may be the reason why the real estate sector is late to adopt and incorporate technological innovation in its business processes. The main benefit of business analytics is to study the consumer’s evolving needs and demands. Through this, a company with such technology will be able to know and study how consumer behaves and what the consumer desires.

In this present generation, people are too fixated on their smartphones and social media. Such behavior made digital marketing to boom and experience success by reaching different consumers from different locations. Without analytics, you would not be able to notice this growing trend or consumer behavior. But with business analytics and intelligence, such information will be available and enable you to see an opportunity to improve the marketing of your products and services with hopes of reaching a wider range of customers or investors. The information on the rapid and continuous changes of business operations and consumer behavior should be garnered and analyzed to quickly seize and maximize the opportunities for business expansion and conquer the industry where you are playing.

The Vital Role of Technology in Real Estate

The emergence of pandemic made technology a vital tool in continuing the business operations of real estate industry. Before, technology is often overlooked by this industry. But it is undeniable that the latest innovations changed the way the industry is operated. Indeed, technology provided convenience in marketing products and services. Remote house tours are possible because of technology. Interior design with realistic visuals gave life to the imagination of the architects and designers. Adjustments on the design of the real estate being developed is much easier. With just a click, everything you imagine can be brought to life. Digital trends in real estate seems to be the game changer of this industry. It did not only provide convenience on the developers but also to potential investors which made their decision making more flexible with the available tools provided by the technological advancements.

Written by Steven Hernandez