Technologies that Have Become a Necessity in Real Estate

Jake Michaels
October 26, 2020
1:00 am

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Technology has a way of penetrating every industry that exists today. The real estate industry is not immune to this. 81 percent of buyers want smart technology to be preinstalled in a home. Their preferences for the use of this technology is for safety, security, and savings.

Some buyers would like to see the home but unable to. Hence, real estate companies conquer this challenge through augmented reality, virtual reality, or even videos. On YouTube, for instance, there are readily available videos of real estate agents touring a house, as a camera follows them.

In this modern era, companies must have an online presence. Mortgage brokers who have a strong online presence do not only benefit from the fact that customers can reach them instantly anytime and anywhere. They also build a following that allows them to easily market to communities and educated potential home buyers.

Virtual and Video Tours

Virtual and video tours are blessings to the industry during the COVID-19 pandemic. According to Zillow, there has been a 191 percent increase in 3D home tours since the pandemic broke out in March. Additionally, the requests for agent-led video tours from Redfin’s website increased by 494 percent in the same month.

These technologies allow buyers to explore the homes without actually experiencing it physically. Several real estate agents have turned to YouTube to market houses, especially luxury ones. These videos tend to be eye-catching and intriguing because their thumbnails suggest the whopping price of the house.

Virtual and video tours are not confined to YouTube nor the luxury homes market. This is where a website comes in handy. A website can be a virtual business card, a library of houses, and an educational tool. All these are made possible by quality content.

Video tours should have production value. Just like physical tours where the house is made presentable, the video should be as well. The potential buyer cannot experience the home’s feel, so it’s the video’s job to capture it for them. Viewers lose interest in the video if it’s bad quality.

Other Media Content

The internet is hungry for content. Through technology, people can create different kinds of content with ease. Other than video content, there is a wide range of media that companies can release:

  • Blog posts. These are informational articles that display the company’s expertise and educate readers.
  • Infographics. These are like the summary of information from a source. Because the data is presented in image form–often colorful and visually appealing–viewers can better digest the information.
  • Images. Although modern, the internet subscribes to the ancient quote: “A picture is worth a thousand words.”

Businesswoman

78 percent of consumers prefer blog articles over advertisements. Quality content builds trust and loyalty in customers. 70 percent of consumers believe that companies publishing content are eager to build a good relationship with consumers. Content is also quite convincing in converting leads into purchases, garnering a better ROI.

A website is a valuable marketing tool in today’s world. To utilize it properly, it should be highly informational, especially in the real estate market where laypeople don’t understand much about how things work.

Internet of Things

The Internet of Things (IoT) increases the connectivity of devices to allow them to be synchronized. Different devices operate in real-time, and they can self-report to bring information to devices connected in a network. It’s more commonly addressed as “smart” technology, although these “smart” objects are only a part of IoT.

IoT is present in modern homes. An AI assistant controls different aspects of the house, like lights, music, TV, etc. The homeowner can control their house from a distance. For example, they can keep track of who comes into the house while they are away or traveling. They can also turn on the HVAC system on their drive home.

Synchronization is another feature of smart technology. A simple example would be the connectivity of phones, TVs, and laptops. People could be watching something on the phone, and then they decide to watch it on TV. They can transfer the data of what they’re watching with just a press of a button. Then, on the TV is the exact thing they’re watching with an uninterrupted time stamp.

Homebuyers look for smart technology in locks and alarms, thermostat and fans, lighting, and carbon monoxide detectors. 57 percent and 45 percent of Americans living with smart technology at home reported it had saved them 30 minutes daily and $1,1179.60 every year, respectively.

To survive in the modern world, an industry or a business should not lag. Technology has so much to contribute when it comes to growth.

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