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29 December, 2020
The COVID-19 pandemic has led to the onset of a ‘new normal’, with people forced to adapt to newer technologies and techniques in order to stay safe. Technology is essentially playing a major role in every sector and the real estate sector is no exception either. Various sophisticated technologies are being used in every process ranging from marketing to purchase. This, in turn, allows the investors to check out properties quite easily.
Online marketplaces allow the property buyers to browse through a large number of projects before they make their purchase. This is certainly a great option for most, as it is very difficult to check out so many properties offline. Just like shopping portals, these property marketplaces allow the users to filter the options and thus narrow down their search efficiently.
Modern technologies like augmented reality and virtual reality are being used heavily in the real estate sector as well . Many of the developers offer virtual tours of properties on their websites through the AR and VR methods. Brokers have also been known to provide their clients tours through video calls. This way, the property buyers can see various properties for themselves without actually having to travel to each of them.
Personalised advertisements were being used in other fields for several years. Now, they have also been implemented in the real estate sector. Based upon a person’s browsing history, he/she is sent recommendations of properties that might prove suitable. While this allows the developers to advertise to highly targeted audiences, it also helps the buyers check out properties which they might have missed out.
Thanks to the constant flow of data and information in today’s world, it is relatively easier to analyse the trends. Various firms carry this out and provide predictions of future trends and property rates. This is of great benefit to property investors as they can now check out which properties are more likely to be profitable and which is the right time to make a purchase.
Even though these technologies gained popularity as a solution to problems created by the pandemic, they are expected to stay relevant in the years to come. Evidently, these modern digital means offer various advantages over the conventional ways and are beneficial for buyers, resellers, investors, brokers and developers alike.
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