Our lives are becoming more digitally- and technology-driven every day, and the Covid-19 pandemic has only accelerated that process. You’ve probably seen this when it comes to virtual meetings, classes, and events, and if you are thinking about buying or selling a home, you might be wondering how technology is shifting the real estate market. Technology is contributing to efficiency in how homes are being bought and sold, including listings, showings, and closing tools. Here are a few specific ways that technology is driving the real estate market.
While it’s still possible to browse homes in printed magazines, online listings are above and beyond the way to go to market a home and reach as many potential buyers as possible. There are many ways to approach online listings, and it’s more than just photos and details about your home. Real estate agents are working with homeowners to create virtual showings through video tours, or even interactive virtual reality experiences. This means that even potential buyers who don’t live in your area might become interested in your home and make a bid on it, which could be especially appealing if you are selling a home for cash.
You might think that virtual reality is just for video games, but it has also become an important tool for marketing everything from clothing to homes. Agents are using virtual reality as a tool to bring home tours to potential buyers wherever they are, simulating the open house walkthrough experience with views of every key feature of a home. This practice first began when the Covid-19 pandemic halted in-person showings, and its convenience made it stick even now that homes are open for live viewings. If you are a seller, it’s worth noting that preparing for a virtual reality showing is similar to a live showing by cleaning and staging your home to show off its best features.
We’ve all heard the saying, “there’s an app for that,” and this goes for real estate, too. Apps are being used by agents, buyers, and sellers alike to research and share important information about homes and the real estate market. One of the benefits of real estate mobile apps, especially for buyers, is that you can do your real estate search from anywhere and stay updated about new homes as soon as they come on the market. In today’s seller’s market, where there are more buyers than homes available, top agent insights clearly show that being aware of new listings as soon as they are posted could be the key to landing a dream home.
Technology is a powerful tool to get tasks done and keep your life organized and real estate is no exception. Whether you are a buyer or a seller, or are just looking around, harnessing technology can be the key to getting ahead and reaching your real estate goals.