Are you looking forward to investing in real estate? Things have changed in the way business is conducted. As you may have heard or seen, technology has had massive impacts on human lives and continues to make changes. Real estate seemed to be the last sector to encounter technological changes, but it has positively been affected and more is to come. Investors can confidently say that technology came to help. Agents can create sites like Hauzisha to list the properties on sale/rent, and buyers/tenants access real estate information quickly as they can find countless houses online. For instance, if you are looking for a rental property at Kitengela, they are listed online with their features, amenities, and prices; thus, they are easy to search. So, how is technology changing the industry?
Virtual and augmented reality
Before the technology, house hunting was hectic as it involved many movements. Agents had to take their clients to different locations to view the properties. The journey was expensive and time-consuming. But, with the introduction of virtual and augmented reality, things have been simplified.
Virtual and augmented reality allow homebuyers/rentals to view many properties in the comfort of their homes and within minutes. Furthermore, if the house needs any renovation, this technology gives you different visuals of how the property will look after the improvements, and you can choose your preference. So, when buying/renting, ask for a virtual home tour and visualize your life in that place. Will it fit all your belongings, have space for your kids, and make things accessible?
Smart home
As buyers/rentals hunt for a place they can call home, they eye on factors like location, features, amenities, security, and social recreation centers nearby. There’re new developments. People are looking for houses with advanced features and amenities, such as smart locks, security cameras, and smart thermostats, to name a few. Security is on the top list, as people want a safe and secure neighborhood. Thus, as a property owner/agent, ensure you upgrade security.
Smart homes come with flexibility, convenience, and added security, making many go for properties with these technologies. Why? Due to COVID-19, some people were forced to work from home. As such, they want things that will make their homes comfortable and easy. Besides, with smart homes, you can control things in the house while away. For example, you can see what is happening around your home on security cameras, and the intelligent locks can lock themselves if you forget to close the doors. For home automation technologies, you can use your phone or a small device to control activities in your house, like lights.
Artificial Intelligence
The old days are gone. You can show your property while entertaining your audience. How? You have heard of software that you tell to play music or remind you of something, among others. You can use AI to play music to show your houses to keep your potential buyers entertained. AIs also help investors manage risks and control expenses as they predict and factor concerns using algorithms.
Furthermore, AI automation, like chatbots, is essential. As a real estate agent, you have a busy schedule and cannot respond to every query from potential buyers/renters, emails, and follow up on all leads. But, with AI, all this stress is taken care of.
As a real estate investor, you must embrace any technological update that comes your way to stay in the game. Technology has also impacted property prices as it brings more and better products to the market. Change is inevitable in this era, so you either adapt or lag as technology is here to stay. Remember, with technology, you can make your work easy and expand your horizons.
