March 10, 2018 OSMH Team

Technology Has Transformed The Process Of Buying And Selling Real Estate

Today, technology offers tons of resources to make our lives easier. A few decades back, it would take a lot longer to go through the entire process and close the real estate deal, but now the process has become streamlined.

Real Estate

Nowadays, the professionals that you choose to represent you may use a number of tools for completing the process in a short period of time, thus saving you plenty of time and effort. They employ several tools, such as e-sign systems, electronic documents and the cloud storage to make each document available round the clock.

Without an iota of doubt, the buying and selling of real estate has become a lot more convenient today for both buyers and sellers. Let’s discuss further how technology has transformed the whole system of buying and selling properties.

Online Listings

In the past, you had to get out of your home to access the property listings for choosing a property that would cover your needs. It was a time-consuming task. Today, however, you can search through a huge database of listings from the comfort of your home provided you are connected to the Internet.

On the web, both consumers and real estate professionals can look for domestic or commercial real estate. Some popular sites that offer these listings are Realtor.com, Trulia and Zillow, among others. The credit goes to technological advancements.

Mobile Apps

Speaking of the Internet, we can’t help but discuss the importance and prevalence of mobile phones. Almost all websites of today have their mobile versions as well, so the users have no problem navigating the sites on their handheld devices. You may not have access to a laptop or desktop computer while you are on the move, but you do have a smartphone in your pocket at all times.

Now, you can look for your desired home on Realtor.com app, and the app can be downloaded from PlayStore. This application receives updates about local property listings every 15 minutes. With this app, realtors and agents review properties and make “property show” requests within seconds.

Aside from the apps that provide property listings, many other apps allow you to work out your mortgage payments that you need to make each month, based on the rate of interest, down payment and purchase price.

Virtual Tours

The next move after you have gone through property listings is to look at the pictures and have a virtual tour of the house. The agent of the seller may give a link to the live stream so that buyers can see the property themselves without leaving their home or office. It can also be a pre-recorded video.

This option is especially beneficial for those who are looking to move to a house in a different state. A virtual tour is a type of “property inspection” that you can do remotely. 

E-signature Services

E-sign is an efficient tool in the world of real estate. In the past, the process of executing a contract or offer used to take a couple of days as documents needed to be transferred physically from one party to the other.

Today, on the other hand, documents can be sent through email to sign electronically. This helps the agents on both sides of the transaction to speed up the process. And the good news is that the e-signature system is legal and electronically signed documents can be presented in the court of law as well.

Real-time Data

Another great benefit of online listings is that the information is updated in real time, meaning if a property has been sold or is no longer available, you will see the relevant status on the site, such as “closed” or “pending sale”, for instance.

Real Estate

Ease of Marketing

Without a solid marketing plan in place, it can be hard to get good offers on a house from potential buyers. Nowadays, agents and individual buyers shoot high quality photos or videos of properties and share them on social media as part of their marketing campaigns.

Within minutes, the post may get hundreds of thousands of views from prospective buyers across different social media platforms. The thing is that social media users tend to share photos more than a boring postcard or flyer they get in their email inbox.

Drones With cameras

Aside from mobile phone cameras, drones have been making it a lot easier for agents to take HD videos and pictures of a property and its surrounding area. Drones can take aerial pictures of a house or commercial building from different angles, thus providing a bird’s eye view of the neighborhood. So, drones help buyers make better decision when it comes to investing in real estate.

In short, these technological advancements are revolutionary and they will keep improving the process of real estate buying and selling. Whether you are a buyer or seller, you can benefit from technology to cover your real estate needs.