The real estate sector is experiencing some major positive transformations, particularly in the introduction of technology in real estate management. Major players in the real estate industry, including real estate companies and tech institutions, follow a problem-solving structure in coming up with new concepts designed to serve customers well. An overview of the major revolutions experienced in the real estate industry reveals an emerging trend where businesses are changing to become more efficient.
Tech-Mediated Buying & Selling
Among the major revolutions in the real estate industry has been the introduction of mobile applications capable of bringing together different parties in the sector. Mobile apps, for instance, have been designed to offer personalized services to buyers and sellers of properties. At the click of a button, a seller can enlist his or her property in the market pool from where buyers can view and purchase at the click of a button.
Financial technologies existing and applied in the financial industry have also been extended to the real estate industry. Real estate businesses have e-wallets from where potential customers seeking to buy properties can send funds to. Tenants of properties can also pay their monthly rents without the need to travel to the bank.
Provision of Peer-to-Peer Services
Major players in the real estate industry, including financiers and real estate property management companies such as Zillow and Redfin, have been in the forefront as far as the development of end-to-end solutions is concerned. Property enlisting companies give customers a chance to personalize their property searches in an entirely new fashion. A user, for example, can refine the kind of properties they desire by setting alerts to get instant notifications whenever their desired property is enlisted.
In addition, these companies can help aspiring homeowners to get the desired mortgage services. The coordination between different stakeholders in the home acquisition process generally increases the ability of ordinary low-income earners to stand a chance to acquire homes.
Packaging of Services
Major real estate players, especially property owners, are creating wholesome services for their prospecting customers as a way of attracting their interest. For instance, property owners offer bundled services, including securing advisories and links to mortgage services, title processing services, provision of escrow services to customers, as well as offering customers moving services. This idea targets making customers feel at ease by reducing the hassle associated with the acquisition and settling in a property.