Technology has forever changed how we buy and rent homes. Reviewing projects online, browsing listings, comparing prices and evening finalizing purchases. The millennial generation has moved to the technology-oriented real estate platforms as opposed to the traditional agents.
Let’s review a few aspects on which the two can be compared to understand which one will become the future of the real estate.
Ease of Access
The online search engines for finding your next home definitely wins in terms of ease of access. You can shop for properties in different cities and locations from any smartphone. Although a traditional real estate agent might have more in-depth knowledge of a particular location, chances are he won’t be able to provide you with full details about other localities. This factor has worked in favor of increasing the popularity of technology-driven real estate platforms.
Experience Platforms
When a buyer wants to get details about a particular project, information available on the website is the reference he has. Developers and real estate e-commerce platforms have moved from flat 2D images to creating virtual reality walkthroughs of property. When the property is under-construction visiting it with a real estate agent might give you information about the location and the social infrastructure of the location, but it won’t help you visualize the finished product. The 3D walkthroughs are playing a big role in swaying customer preferences.
One-stop-shop experience
Several real estate listing platforms have gone ahead and have created tie-ups with financial institutions to offer buyers the whole package of applying for loans while they finalize on their purchase. This saves time and energy for the buyer would don’t have to individually go through this process on their own and instead and approach financial institutions that have pre-approved the project. Many traditional brokers also have relationships with banks, but it may not translate into the best rates or best offer for the buyer in all situations.
Data-Driven
Investors and end-users of the real estate market are very savvy today in terms of being aware of the market trends, prices and additional charges that might get piled on to their final price for a purchase. The technology platforms provide analysis reports and locations trends in terms of prices, availability of property and even growth trends. This enables an investor to make an informed decision. A traditional real estate agent may or may not be able to fully provide the information or might even be wary of providing information that might go against a sale.
Personal Touch
Everything cannot be done by technology. Sometimes it is hard to purchase a home as per your requirements when you are just browsing online, and it can be a little tedious also. Having a human touch can always be useful especially for senior citizens who are not particularly comfortable dealing with technology.
The way forward for the future is not to discard the traditional over the technology methods but to merge the two to create a system that uses the best of both worlds.
