As citizens born and brought up in the Digital Age, Millennials are a tech-savvy generation that is hugely influenced by Social Media. Most of them don’t remember a time when it didn’t affect their lives and thought processes, and influence their decision-making about everything – from fashion to buying a home!
Today’s uber chic and net savvy homebuyers want to sit in the air-conditioned comfort of their homes and engage in online property hunting. A 2016 report from National Association of Realtors (NAR) states that searches for real estate properties had grown 253% in the previous 4 years. With just a few clicks, one can now view and filter preferred properties as per – budget preference, location setting, listed pros and cons, reviews and ratings, 3D virtual experiences, and value-added services.
As cashless economy became closer to a reality, how did the real estate business adapt? Are the changes positive or negative? Here are some things you should know about going the digital route in realty business.
Like any other industry, real estate is adopting to technological change. The need to deliver a better customer experience and stay compliant with industry regulations has ensured a steady rate of technology adoption. Let’s take a look at some tech applications that are gaining popularity in real estate.