Friday, 17 June 2016

How Digital Revolution has impacted Real Estate

Digital revolution is something that every one of us has experienced in one or the other aspect our life, in fact, nowadays it seems almost impossible for us to live without technology right in our hands. 
 Many aspects of the technological revolution like IT systems, ERP’s, web communication, social media have all managed to transform how business is conducted. It has helped industries become more efficient and growth focused.

The impact of this digital revolution has been as intense as any other sector. Technological advancement has found place in every single aspect of the real estate cycle, from designing and construction to marketing, branding and sales. Flow of information has been made faster, more reliable and economical and buyers and investors seem to the ones who are most benefited by this.

Buyers and renters have a wide variety of options for choosing properties amongst thousands of listings with multiple of filters customized to suit their needs instead of relying on brokers. This sort of opening of market has driven down brokerages, consequently causing developers and builders to offer myriad facilities and offers to keep customers happy.

 Digital revolutions has opened a number of avenues for marketing for the builders and developers, with advent of Facebook, Twitter, Slideshare and LinkedIn, developers are able to engage customers better and make them a more involved party, opening up two way communication with them to deliver better product and services.  Another important aspect is the ability of using high end software to design and create buildings that are economical, environmentally friendly and appealing. The time taken to build and develop projects has also reduced resulting in consumer confidence.

A more indirect benefit has been that the easier processing of information at financial institutions leading to quicker disbursal of loans to buyers and developers alike has helped in their financial health.