No enterprise can escape the ongoing digital transformation in the global economy, and the real estate industry is no exception. Large real estate companies use modern technology to improve the customer experience, increase sales, and operational efficiency. However, many real estate companies are slow to apply new tools and techniques to transform their businesses.
Homeowners, investors, developers, and property managers need to learn and adapt business models and delivery systems to embrace this change. This covers a wide range of real estate issues, such as construction, sustainability, site selection, accessibility of infrastructure and equipment, branding, property management, and a wide variety of other specific issues for all segments of real estate.
According to Statista, the total value of PropTech deals completed around the globe was approximately 9 billion U.S. dollars.
Top Trends Of Real Estate Industry
Multiple tech-driven trends are influencing real estate operations such as,
Consumers look online first
Before people decide to buy a specific product, people search online for reviews, comments, and other relevant information. Real estate is no different in this regard. When looking for a home to buy or rent, people search the Internet for information about it.
Online platforms with smart browsing features can provide information about its property through its website, aggregated platforms, and other similar sources. Taking advantage of this, people can view the property’s resources and send messages to the owners if they want to know more.
The system is as relevant to the real estate sector as it is to any other industry. This is particularly relevant due to the large amount of data used. It helps to track the sales funnel and the transactions performed at different stages. It also eases the realtors, companies, and customer management processes. These systems’ analytics make it a useful tool to make any real estate business a success.
Realistic views of a desired apartment or office can show customers how it will look before the construction phase. It offers a virtual tour of the property, which can have a decisive influence on the purchase decision and increase conversion rate.
One of London’s leading CGI companies, V1, provides architectural 3D visualization services for architects, interior designers, property developers, home builders, and urban planners in the UK. It dominates 3D architectural rendering services and helps its customers create attractive interiors with collaborative photorealistic 3D model architecture.
How Tech Has Helped In Digitization Shift For Real Estate?
Real estate companies need to take full advantage of the company’s digital transformation potential and adopt digital technology as quickly as possible. If you want to take your business to a new level, it’s time to take action now.
Below are some factors that have helped real estate businesses to stand out amid digital transformation.
- Identify potential customers
All in a single segment of solutions, adapt your customers to their needs. You can get to know everyone’s financial situation with your properties, plan your next sales calls, and run marketing campaigns to help you move on to your next purchase and complete the deal.
- Drive smart sales
It allows you to automate your sales processes, track and manage sales pipeline activities and opportunities, and predict future sales performance. Depending on your organization’s specific business needs, it helps you flexibly manage payment terms and leasing, sales management intervals, manage advances, and due dates with automatic reminders and alerts.
- Enhanced collaboration and mobility
Connect your team to intranets to create a collaborative environment with dynamic knowledge bases that help create more informed employees. Let your employees work with their mobile devices on the go to increase productivity.
- Refined digital customer service
Record all incidents, complaints, and suggestions from customers received by your call center, sent by email, SMS, or any other digital medium. It also provides excellent monitoring and quick resolution of all problems. Create a connected customer service solution to meet all your customers’ needs.
- Digitized ecosystem with ERP integration
As a successful digital journey is necessarily integrated, it helps implement, update, and integrate customer relationship sales, marketing, and more with your current ERP.
To the point,
As digital disruptions continue, the associated consequence will inevitably change the real estate sector. The key to surviving and thriving in this new age is to adapt to these technological disruptors, that major can be achieved by bringing your businesses online through website or getting an app developed from a reliable tech company, while maintaining a fundamental vision and developing a flexible approach that can support future volatility and drive growth.
Panacea Infotech is the leading web and app development company offering robust app-based digital solutions for real estate sector to add value and drive excellence and operational growth.
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