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April 15, 2022

Technology Integration: The Real Game Changer of The Real Estate Industry

Experience simplified process and enhanced security with PropTech

Covid-19 Outbreak & Real Estate Industry

The Covid-19 pandemic has ushered in a new era of the global potential for every sector. The usefulness of digital solutions throughout the real estate value chain is becoming increasingly apparent as the digital revolution continues its march of disruption.

As the post-Covid-19 era approaches, PropTech technologies such as smart property search applications, virtual property tours, chatbots, transaction automation, and enhanced CRM systems for increased customer targeting and lead nurturing are being used.

Real Estate Shaking Hands With Technology

Real estate and technology are finally partners, however slowly. Gone are the days of traditional real estate transactions; technology has taken over the globe, including our land, houses, and offices, among other entities.

PropTech is revolutionising how we connect with our property, whether for construction, property management, home services, purchasing, selling, or renting it.

5 Astounding Technologies to Level-Up The Real Estate Industry

Virtual Reality

Virtual Reality has eliminated the necessity for in-person property tours for potential purchasers.

Real estate brokers may use VR boxes to illustrate what a house appears like, which is a far superior alternative to web photographs that are frequently edited or retouched. Interested buyers who cannot view the home right away can get a fair impression of what it looks like in person.

This is especially relevant during a pandemic when some locations must adhere to tight social distance standards. In some cases, you can even avoid direct engagement with the real estate agent during the procedure.

Artificial Intelligence

Artificial Intelligence has wholly transformed the real estate sector. Real estate companies can use AI to implement chatbots to provide 24/7 customer support. Customers may ask inquiries and get prompt responses.

Customers can receive property ideas based on their interests, location, value, and other parameters set using AI-based algorithms. This is because AI transforms data into useful information.

AI automates time-consuming and repetitive processes such as scheduling, document management, and timesheet preparation.

Advertising Through Technology

Ad tech, or advertising technology, is a collection of software and technologies used by advertising agencies and corporations for product/service marketing.

Ad technology aids in the targeting of clients in the real estate market based on data analytics and customer insights.

Personalized adverts may be targeted based on the number of bathrooms, surrounding amenities, number of bedrooms, and other factors.

According to several surveys, homeowners start studying their property purchases 5-6 months in advance. Ad technology platforms can assist in determining a buyer’s purchase stage and more successfully remarket them based on this information.

Advanced Security & 5G

New and innovative means of monitoring possible security concerns have emerged as a result of technological advancements. Thanks to smart doorbells and locks, tenants may examine their houses without being physically present.

Smart sensors, for example, are being integrated into rental houses to assist renters with effective property management.

We now provide several property management services that assist clients with various real estate challenges. The arrival of 5G has significantly impacted the real estate market. We now have modern cameras and sensors that create high-resolution photos and movies thanks to 5th generation wireless technology.

Tenants and homeowners may use this increased security feature to keep an eye on their homes.

Augmented Reality

In Augmented Reality, visual features and other sensory cues are added to a real-world environment.

Augmented reality is beneficial for displaying unfinished buildings in the real estate industry. Instead of faked pictures, the final property might be depicted genuinely.

Another amazing feature of AR is that it allows potential buyers to virtually edit a space, changing things like the wall color and light fixtures. Buyers will have a more involved purchase experience as a result of this.

They’ll also get a sense of what their future house will look like!Dubai & PropTech Innovation

Dubai & PropTech Innovation

The expansion of Dubai’s smart ecosystem and the emirate’s embrace of innovative features and projects has reinforced digital adoption in the real estate sector. The Dubai Land Department (DLD) recently implemented artificial intelligence (AI) into the real estate assessment process to reduce valuation processing time to 15 seconds and cut costs by 20%.

Furthermore, interest in PropTech has developed partly due to private-sector activities. As the Covid crisis progressed, Property Finder, located in the United Arab Emirates, introduced a new option that allows users to live-stream a property showing and offer real-time feedback for agents.

Customers can continue to choose virtual watching over physical viewing even after the epidemic has passed, owing to enhanced convenience, the promise of shorter response time, and better sustainability standards.

Final Words

The influence of technology in the real estate industry boom is growing by the day at an unprecedented pace. Loft and Manor is one of the top technology-driven companies in Dubai. Our customer-centric business model is the core value driver for real estate investors, landlords, and tenants alike. Don’t wait further; let’s find your dream home together!

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