Technology will not replace people when it comes to making a real estate buying decision. Algorithms and online listings cannot help the client nor real estate agent deal with human wants, needs, and desires when choosing your home. However, technology has several ways to provide factual information and increased efficiencies before, during, and after the house selection process.
Online technologies before the sale of residences
First, we will look at the effect drone photography has on buying a home. Previously, if you wanted to see the house lot and position on the block you could drive to the location or look at the pictures and try to imagine how everything fits. Today, with drone photography you can "see" online the house position on its block and the neighborhood before driving by.
Second, virtual tours of the inside and outside of the house's online listing provides the initial view of several prospective properties in several neighborhoods anywhere in the world. This disruptive technology has empowered house buyers by increasing the number of houses they can view with little or no increase in expense or time.
What are the advantages of social media selling
Social media selling represents the third-way technology makes buying a home easier. For instance, the real estate agent can record both the footage from the house drone photography and virtual tours as well as reviews of the prospective neighborhood with social media. In fact, with social media the neighbors can also communicate with the prospective and new home buyers simultaneously.
How technology saves time completing real estate documents
Fourth, the residential buying process would take many months to complete a transaction. The volumes of paperwork and compliance documents would increase the time to complete the real estate transaction even after the financial arrangements were completed. In contrast, with online documents and online e-signing, contracts now take days and weeks drastically reducing time and ease.
For example, websites such as Rocket Mortgage, Docusign and Ten-X can complete the real estate process very rapidly since the documents are stored in the cloud and can be accessed on mobile devices as well as laptops, and computers.
How mobile technology makes buying homes easier
For the fifth way, we need to accept the dominance of mobile apps during the buying process. Monthly studies have shown that buyers are increasingly using mobile devices to gather purchasing information before making buying decisions.
For instance, buyers can research the latest mortgage, crime, tax rates, neighborhood school reviews and so on all from smartphone apps. They can also compare real estate services and products from additional smartphone and tablet apps. As a result, real estate apps should be taken very seriously as a means to make buying houses easier.
In conclusion, the advantages and benefits of technology and residential real estate are an easier, cheaper, faster, and better buying experience.
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