How Software is Revolutionizing the Real Estate Industry

When the famous Marc Andreessen said, “software is eating the world” he meant technology has infiltrated every facet of our lives, including our lifestyle and houses too.

Speaking of houses, technology has revolutionized every aspect of the property market, completely changing the game for realtors in unprecedented ways. Today, buyers can see a birds-eye view of a neighborhood a thousand miles away, thanks to drone technology.

You can take a virtual tour of a listing and even negotiate pricing without stepping out of your house. Searching for new listings is as easy as swiping your phone and you can even complete the payment without lifting a pen. In this article, we take a deep look at how software is reshaping the Real Estate industry.

1. Real Estate Agents are No Longer the Same

Gone are the days of the “brick and mortar agents” who spent their days distributing flyers and publishing listings in the newspaper.

Today’s agents are leveraging technology and the internet to cater to tech-savvy home buyers. The majority of home buyers are now searching for their ideal home online and with the rise of social platforms, agents are now leveraging social media to generate leads.

Real estate agents are not tied to the office anymore and homebuyers can access listings from anywhere as opposed to the old times when print media was the main distribution channel. With shifting market conditions, the 21st-century agent has no choice but to delve into the world of Big Data and online marketing to keep up with the times and remain competitive.

2. Workflow Automation Is the New Trend

Software solutions for real estate have simplified the agents’ roles by automating workflow and making task management easy.

On a typical day, a real estate coordinator may have to deal with a lot of tasks both in office and out of office. They may have to schedule appointments, track deadlines, list properties, coordinate inspections, submit documents, and oversee all aspects of seller transactions.

All these tasks can make an agent’s head spin if they don’t have the means to organize and keep track of deadline sensitive activities. And that’s where automated checklists for real estate transaction coordinators come in.

With automated checklists, transaction coordinators are able to track the status of the required paperwork and transactions while setting deadlines and reminders for each task. This ensures important tasks aren’t falling through the cracks.

3. The Rise of the Mobile Apps

Most of the tech innovations in the real estate world today are fueled by mobile applications. These mobile apps provide a sleek platform for buyers to navigate the real estate market and view property listings at the comfort of their couch.

Apps such as Zoopla, Zillow, and Bigger Pockets are changing the real estate game by providing everything surrounding the real estate market, including real estate news in one place. With notifications turned on, buyers can easily be notified when a new home that matches their search criteria is listed.

4. The Dawn of AI

While Rosie the Robot Maid won’t be giving you house tours anytime soon, artificial intelligence is impacting the property market in big ways.

AI is revolutionizing the home buying and selling experience. For realtors, the best way to win a deal is to show their clients’ property that’s perfect for their needs. This can be achieved through AI where advanced algorithms are executed to show results based on historical data recorded by other similar customers.

Additionally, some artificial intelligence apps can answer detailed questions about a home, giving customers the information they need to make an informed buying decision.