“The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates
Real Estate is an imperishable asset ever increasing in value. It is the most solid security that human ingenuity has devised. It’s the basis of all security and about the only indestructible security.
The advancements in Technology have made its mark on every field. Be it tools for fieldwork, software for the office or machines in the service sector, every field now employs technology. We can leverage technology to perform tasks much more faster and efficiently than manual intervention.
Real estate has been a business which had coexisted with mankind since the discovery of agriculture. The value of land and its property has always been a deciding factor of history. And as time progressed, the business that is real estate also adapted to the change. Not only adapt, it has managed to use the modern technology to evolve beyond our imagination.
The use of technology in Real Estate is primarily concerned with digitizing it, and enabling businesses to move online. PowerPoint and Mortgage calculators were some of the first technology driven gadgets employed in the real estate industry. Here are a few other tech marvels that have the potential to radically transform the industry.
Leadpages and Leadsites
Leads are information of buyers, sellers or property which realtors use to attract customers. These have moved online via digitized Leadpages or Leadsites. These function as targeted online advertisements, using web search history of people to find potential customers. They are a great marketing strategy that helps agents attract potential customers with much less effort and much more success rate.
Gone are the days where Real Estate deeds were only signed on paper. Nowadays, digital contracts are widespread. They are much easier to handle and store than their physical counterparts. They also employ e-signatures for easy digital authentication. You can do the authentication of these documents online via e-mail.
Accounts and Other Files
Use of computers for bookkeeping is a custom that now prevails in all disciplines. Real Estate is no exception to this rule. Evernote, Microsoft Office are a few applications that assist in digitizing your documents. You can store them online or offline according to your preference.
Cloud Computing is the technology of storing files online for easy and fast access on multiple systems. This technology is usually coupled with Digital Contracts and Bookkeeping so that the related documents are available on multiple access points and stored online.
Blockchain in Real estate
The next step in this phase revolves around the use of Blockchain technology in this field. The Blockchain is the perfect medium for dealing with secure documents and digital assets. Xinyuan Real Estate Company, a reputed real estate firm in China has already announced its plans to partner with Ruizhuoxitou. Ruizhuoxitou provides services related to Blockchain technology. This is going to involve digitization of assets, storage of contracts, accounts, customer data and other files. 24-hour monitoring of transactions, contract signings and asset flow is also a part of the plan. This will successfully digitize the entire company, and also secure the transactions.
Technology has the potential to change the face of the entire Real estate business. Proper use of technology could propel this sector into peaks never reached before.