How is Technology Helping Real Estate During Pandemic

Technology has been a driving force behind innovations in the real estate sector for some years. When it comes to full digitization, real estate is not one of the tech pacemakers.

The industry needs to rectify this by 2020:

COVID-19-driven travel restrictions and the cessation of outdoor homes have brought the use of technology to the fore, signaling a new beginning for many real estate tech companies along the way.

Given the current situation, the longer the epidemic lasts, the greater the chances of digitization efforts in the real estate software development process in the long run. For the industry replacing the technology spotlight home view with video, the technological advances in the store are nothing less than a real revolution.

When you look at these compelling real estate technology advances from the front of the real estate tech company, there is nothing less than good news. By using next-gen technologies such as blockchain, AI, AR/VR, the proptech industry can keep its growth momentum intact.

Let’s get into the real estate and technology fusion situation and see how we set the new trend for real estate technology startups — the aftermath of the epidemic continues.

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1. Automation of business practices

One of the most important and common examples of technology in the real estate industry is the advent of automation. Can be found in automation marketing, engagement methods, and business processes advertised as a by-product of Artificial Intelligence Development in real estate.

Here are some automation areas that became popular during the epidemic:

1. Lead Generation through Website Forms
2. Omni-channel synchronization of Leeds
3. Lead nutrition through drip emails or automated workflows
4. Transaction and task management
5. Finance and accounts automation
6. Property Inspection Automation by Spectora

2. Virtual home tours

The virtual home tour is one of the most beloved pandemic-based technology in the real estate industry. According to the Apfolio survey, “71% of property management companies say their preference for virtual shows has increased,” and “64% believe they can stay here.”

Technology beyond 2D photographs, video conferencing tools, and interactive 3D models is a tool that has made the process of showing COVID an unprecedented success.

3. Cloud adoption

One problem that real estate technology ventures have been trying to solve for years is relying on papers. Sorting out real estate policies by placing digital platforms at the center is a great step for businesses to continue to serve buyers/sellers through stay-at-home orders.

The benefits of this disruptive technology in real estate can be seen here:

1. Reliable security and storage
2. Reduction of operating costs
3. Provides real-time sharing and accessibility

Final Words:

Looking at the future of the real estate sector, the inclusion of technology continues to grow and the restructuring of how transactions are handled, thanks to Covid-19. An important factor in keeping the pandemic at bay is the need for personal relationships. Asset agents, investors, brokers, and lenders must continue to develop their scope of influence. When you partner with a real estate app development company you must consider the human process.