Technology is changing how we buy and sell our homes. Many of these new technologies make the process easier. The purpose of any new tech is to add a convenience that was possible before. Many of these innovations save time, while others add a new dimension to the process. This article will cover some new technologies and briefly discuss how each is changing the industry.
Mobile technology is becoming more important in the process to sell and buy a home. With the advancements in smartphones has come the ability to do almost anything from the palm of our hands. When it comes to real estate, we can search for properties, research neighborhoods, and even hire an agent or mortgage broker from our phones.
Realtors have many web services available connected to MLS listings that have the ability to send out text or application notifications so that their clients can have the latest information about a property.
Real estate agents are using mobile applications linked to real estate databases to inform buyers about the neighborhoods or school districts near the properties they have interest in. This adds value to buyers, so they can spend time viewing homes that closely match their interests.
3D virtual tours are used to create a simulation of a home. There are different types of 3D virtual tours. Some use a large amount of photographs that are stitched together. Using a computer program, a potential buyer can move through a set of photographs to gain a sense of the interior.
The other main type of virtual tour is a video tour. In a video tour, the seller or agent uses a video camera to take a walk-through of the home. The video gives the seller the feeling of actually walking through the property. However, video tours generally do not have the same level of control of movement as the stitched photograph method.
The software and video equipment can be complex, so there are a number of professional companies offering these services. 3D virtual tours can be linked to the Multiple Listing Service. Some newer companies are offering the ability to create 3D virtual tours of properties that have not been built yet. Also some of these same companies are working on using VR headsets with 3D virtual tours.
Drones are another technology that has helped both buyers and sellers of homes. Drones have made it inexpensive to take detailed exterior pictures of a home and neighborhood. Drones make it possible for a potential buyer to learn about the exterior of the home and the immediate neighborhood before ever setting foot inside of a potential home purchase.
Drones are unmanned aerial systems used to take photographs of a home and neighborhood. Unlike a helicopter, that would generally be cost prohibitive to take pictures of a single home, a drone can be flown for pennies by comparison and create stunning photographs and video. Drone videos are excellent for marketing a home and offer a competitive edge. Offering this bird’s eye perspective is a huge selling point for some agents.
Cloud technology is also an important technology in the process of buying and selling a home. The cloud allows for computer applications to exist or to store data on a server away from the user. This technology means that complicated applications can be accessed and used on mobile devices or laptops.
The cloud allows a seller or buyer freedom from an office to run applications to process and obtain data. For example, CRM or customer relationship management software allows a seller to update potential buyers through automated follow up. Also, Docusign, an electronic signature software company, can be used in the cloud to get documents signed and deals completed.
NAR or National Association of Realtors has documents that are available for use through DocuSign. Realtors can use the cloud to keep track of all deal related documents that related to a specific transaction. Using Docusign allows anyone working with multiple individuals to work with the same document and share changes in real time.
Live streaming an open house is another new technology that sellers are using to market their homes. Sellers are able to create a live stream and broadcast through services such as Facebook Live, YouTube, or Periscope. Live streaming allows a seller to share an open house with a larger community.
Overall, the technology mentioned is rapidly changing the way homes are bought and sold. These technologies reduce the amount of time and money needed to buy and sell a home. Also, they help a buyer make the best home buying choice by creating the ability to see all of the details remotely.