Nowadays, everybody is getting information right in the palm of their hands thanks to social networks, internet, and technology. If you need to look for anything, the answer is two taps and a Google search away.
As impressive as it may seem, the real estate business has been nothing but reluctant to these changes. This technological revolution has, for sure, made some ground-breaking changes in the structure of the real estate business and how it works, but, as a conservative market, it has tried to resist change.
Technological innovation is constantly being applied to the housing market and, somehow, the process of selling, buying and managing a property is starting to change from what it used to be. Top real estate brokers in Dubai and experts say that “what was once a people business is suddenly a people using machines business.”
1. HISTORICAL CONTEXT
Some may wonder how did the business got to this? The answer is just that, in a world that is always in constant development, it’s impossible that it affects each and every matter around people’s life.
Many years ago, real estate agents used newspapers as their way to get to people, where they were supposedly classified as experts. Then, yellow pages made an appearance and the newspapers as a medium to get advertising became history.
This is, basically, what happened. Newspapers were replaced by yellow pages, then yellow pages were replaced by some Google searches and results, then WebPages appeared, then the era of apps came, and you know how the rest goes.
In the end, real estate agents have always, in many cases and stages in time, turned to technology and media so they can sell homes and properties. According to experts, nowadays, 44% of people who look for a property begin their search online.
2. WHAT HAPPENS NEXT?
As already said, people can’t outrun technology and developments because they are made basically by people for people. So the next step for real estate agents to take is to start embracing these technological advances by admitting that, in order to survive in the market, they have to stay updated and work in line with the latest developments.
Knowing how to navigate and manage the most recent and popular home listing platforms, grabbing attention on social media like Facebook, Instagram, Twitter, and even WhatsApp or Telegram qualify a real estate agent as a modern and millennial real estate agent that embraces change and keeps up to date with the world.
The truth is that the real estate market has been so affected by the technological revolution that real estate agents are needed now more than ever.
3. VIRTUAL HOUSE VIEWINGS
As already mentioned, more than 40% of property buyers started their search for the actual property on the internet. This only means that nearly half of the buyers had the instinct of sitting in front of their computers or googling via smartphone as a starting point.
As virtual reality becomes more and more real (ironic, isn’t it?), virtual house viewings will be available shortly and will change the way the real estate business is presented by real estate agents and perceived by buyers. As the internet offers instant access to almost anything, this will make the selling process even faster, and it’ll make great and big changes in how the market works and flows due to people having the opportunity to take a look to a property with just a few clicks or a tap.
4. SELLING AS A PRIORITY
New developments and technologies permit real estate agents to work from distance and in multiple platforms, even with multiple clients. By arranging 3D tours, VR house viewings, adding notes to the cloud, both sellers and buyers’ lives are way easier.
In the past, people had to leave their houses and go to real estate agencies, to talk to a real estate agent, go to meetings, or even talking over the phone which isn’t exactly the best of the real estate experience. By allowing technology to change how the business works, sellers and buyers do most of the work at the comfort of their living rooms.
Though it hasn’t been easy for everybody to embrace change, there are some things that are just inevitable and technology is one of them. If you want to keep working as a real estate agent or if you are just a real estate enthusiast or entrepreneur, you should take a look online to some amazing off plan property in Dubai, like District One Villas or the amazing Dubai Creek Harbour projects.
Just remember to embrace technology and development. Don’t try to push them away. As already said, it is inevitable. Unavoidable. Technology is everywhere and it’s made to make people’s lives better and easier so try to embrace it in a graceful manner.