How Technology Trends Are Impacting the Real Estate Sector

With every sector slowly optimizing itself to become more technically proficient, the transformation of the real estate sector is also underway. Primarily focusing on ensuring a better customer experience through its services, the real estate sector is evolving beyond the traditional forms of buying and selling.

 

Technological advancements like the introduction of artificial intelligence, and increased focus on online presence have been undercutting the traditional real estate business, making it more congruent with the recent trends. The change could certainly lead to portfolio expansion, mutually benefitting the consumers and the developers.

 

As observed by industry experts and reputed developers in Hyderabad, there are several technology trends that are expected to shape the outlook of the real estate sector.

 

Virtual Reality

 

The concept of virtual reality has helped developers and real estate agents redefine their business operations. With spatial immersive property tours and 360-degree views, developers are using top-level services to attract more customers and cut their overall operating costs.

 

Smart Technology

As AI enters into the property mainframe, the consumers insistently move towards smart homes. The possibility of it was quite distant a few years back, but now, with technology advancing manifolds, making your abode a smart home is a convenient option.

 

3D Printing

The practice of 3D printing is most widely used in the real estate industry. The construction industry has capitalized the full potential of 3D printing, with building safer, environmentally sustainable, and better properties.

 

Automated Valuation Models

 

Automated Valuation Model is the name given to a service that can provide real estate property valuations using mathematical modelling combined with a database. Most AVMs calculate a property’s value at a specific point in time by analyzing values of comparable properties. AVMs offer accurate real estate property valuations along with a comparative analysis of various pertinent properties.

 

Chat Bots

 

Servicing existing customers, as well as assisting prospective buyers has been made easy with the introduction of AI-infused chatbots. The system has the ability to cater to every clients’ need and modify its operations accordingly.

Last updated on July 23, 2021

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