How Has Technology Changed The Buying & Selling Process?

Like almost every industry, the real estate sector has been significantly impacted by technology. Today, whether you are buying a property, selling one, or are a realtor who specializes in property, technology will be an integral part of buying, selling or working in the industry. The good news is that new digital tools are making the process of buying or selling much faster and more straightforward, and more accessible than ever before.

However, that is just the tip of the iceberg regarding the impact of technology on real estate. The fact is that technology has had a massive impact on this sector and has led to some pretty significant changes occurring. These changes affect not only industry professionals but also buyers and sellers. There are a lot of opportunities for both commercial and domestic properties to be sold/bought, with technology playing an integral role.

Want to learn more about how technology is changing the real estate industry?

Drones allow better visuals

One piece of technology that has had an incredible impact on the real estate industry is drones. Until a few years ago, drones were mainly used by the military. However, once they were developed and adjusted for civilian use, they then became hugely popular.

For the real estate sector, drones that have cameras incorporated into them are hugely beneficial. They allow for better views of entire properties, including areas that aren’t usually easily accessible, such as the roof. They can also give an overall idea of the area by providing a bird’s eye look at the neighborhood.

Online listings make house hunting simpler

The popularity of online property listings, like the ones from Open Listings, make the process of searching for a suitable property or selling one, for that matter, much more manageable. Along with detailed descriptions of properties, you can look at photos and even take virtual tours. If this feature is enabled, that is. You can also find purchase history, monthly running cost guides, and neighborhood and local amenities.

Mobile apps make buying and selling easier

All those websites also have apps that you can use to make the buying or selling process an even easier one. You can sign up to get notifications sent to your smart device about properties that you have favorited, as well as about properties that may be suitable for you. These apps ask you to set the criteria for what you want in a home, including size, location and even specific features that you would like the property to have.

Virtual tours are commonly used

Don’t have the time to view a property in person? Or live too far away? Virtual tours can be a great option to know whether you like a property and should see it in person. One of the great things about these features is that it makes house hunting more accessible in any area, regardless of where you are in the world. As long as you have an internet connection, you can easily house hunt irrespective of your location.

Technology has had an enormous impact on the buying and selling processes of the real estate sector. The fact is that innovative technology has made both buying and selling much easier and less stressful, as well as more accessible.