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Technologies Reshape the Real Estate Industry As We Know It

If the pandemic has taught us anything, it’s that the way we go about our daily lives can change at the drop of a dime. Although we’ve had to change how we do things, technology has played a huge role in keeping things going. An example of this is the real estate industry.

In the past, almost every aspect of buying and selling real estate needed to be done in person. However, the real estate agents began relying on various technologies to conduct business because the pandemic and social distancing made in-person meetings nearly impossible.

Here’s a look at some of the ways agents have used (and will continue to use) technology to conduct business.

1. Virtual tours

Instead of open houses and in-person showings, agents would host online virtual tours for properties. They’d record a video that showed every inch of the property so prospective buyers can get a good look at the house and its features.

2. Video conferencing

Along with virtual tours, real estate agents have embraced video conferencing as a way to meet with clients and discuss business. This is a huge help because it’s a lot easier to set up a time to chat on Zoom rather than finding a time and place that works for everyone.

3. eSignatures

There are a lot of things that you need to sign when you’re putting your house on the market, and it feels like there are even more documents to sign when you’re buying a house! Instead of getting a cramp in your hand from signing all those documents, programs like DocuSign and DotLoop are used. These programs make it possible to review, sign, and initial documents with a click of a button.

4. Digital floor plans and staging

Real estate agents use digital floor plans and digital staging programs when they’re marketing properties to give prospective buyers an idea of what the house could look like. For example, if a client is interested in a fixer-upper, the agent could use the digital program to show buyers how the home could look with certain renovations.

Get ready for a different real estate experience

The real estate industry used to be a very forward-facing industry. We would have to meet real estate agents, walkthrough countless houses, attend meetings, and more. However, with the implementation of new technology and programs, the real estate process has become much simpler. You can shop online, view houses virtually, arrange video conference calls, and sign documents all from the comfort of home.

In essence, a real estate transaction can be completed from start to finish online. And, with businesses shifting to a remote-work business model, folks can buy a house in a new state easier than ever – as long as you have an internet connection, of course! The real question is how will the industry advance in the years to come?