Technology That Improves the Way We Buy, Sell and Use Our Homes
Over half of real estate firms are successfully embracing new technology in the property industry. As well as increasingly using social media, brokerage and listing websites, two thirds of agents cited MLS (multiple listing service) websites and apps as one of their most valuable tools. With more than 80% of homes sold having been listed on MLS systems, they are also proving beneficial to house purchasers. As well as infiltrating the process of house buying and selling, technology is increasingly being incorporated into homes, improving their quality and making them more attractive to buyers.
Enhancing Home Management
By next year, it is anticipated that nearly 60% of homes will include at least some form of smart technology. The rise in the popularity of home technology is largely due to the fact that gadgets can improve the way we live in our homes, by saving time, money and energy. In addition, when it comes to selling a home, buyers are impressed by automatically controlled lights, responsive thermostats and wireless entertainment systems. Recent analysis has also found that smart technology could increase a property’s value by up to 5%, which is good news for sellers.
Simplifying Searches and Viewings
As well as increased digitization making it easier to find properties online, viewing homes is also enhanced by advances in technology. Using virtual reality, potential buyers are able to tour a property at any time of day and from anywhere in the world. Around 70% of house purchasers view images online before taking a physical tour. This makes the buying process more efficient, enables clients to engage more thoroughly with a property, and allows agents to save time and money.
Automating Mundane Selling Tasks
This is also true of other technology such as advancements in the previously time-consuming tenant screening process. Now agents can use online data to quickly cross-reference criteria in order to pick a suitable tenant for a property. When technology automates routine tasks in this way, it allows agents to concentrate more on marketing properties and closing deals quickly and efficiently.
Gadgets and smart technology are not only improving the way we manage our homes, they are also making it easier to sell a property by adding value. When combined with technology that simplifies a property search and streamlines a realtor’s working day, the whole real estate cycle is enhanced.