The real estate industry of the nation has changed exponentially in the last few years, and the advancement in communication technology has its impacts on real estate. Due to the efficient communication infrastructure, the jobs of real estate agents have readily improved and improvised as well. Not to forget the new comparison websites and other real estate websites which allow the user to have more choice while buying or selling the property. Conventionally, a buyer or a seller was supposed to visit the property before finalizing the deal. Visiting the property is never a big deal if the property is in the same city. The issue arises when the buyer wishes to buy the property in some other city.
Regularly facing such problems have given a variety of ideas to the real estate agents regarding how the property can reach the customer and not the other way round. There have been iterative changes with the use of modern technology, and it has changed the way how real estate functions. That being said, here are the top trending technologies in the real estate sector for 2018.
Augmented and Virtual Reality (AR and VR)
This is one of the most trending technologies of the year 2018 as the technologies are being exponentially adapted by the consumers. Want to witness how the AR and VR can rock the real estate market? Have a look at the success of Pokemon Go game. What would it be like if the people could take a virtual tour of a home before visiting it? The use of VR in virtually visiting the home can change the whole game of real estate sector. A customer can right away decide whether to visit the property in real or not.
Using augmented reality, a customer can get a glimpse of how the home would look once the furniture is set up.
Machine Learning, Big Data, and AI
The collaborative technology using AI, Machine Learning and Big data can be used to study the real estate market in a very easy manner. Artificial Intelligence can be used to process the data which is obtained by the process of machine learning. Using machine learning a person can forecast the trend of the real estate market and can buy or sell the property accordingly. This data can be collected and implemented in the industry to keep moving it forward. If one can obtain a comprehensive view of the residential real estate, then they can purchase or sell the property based on logical decisions instead of just some hunch.
Mostly every real estate developer website now uses chatbots. The chatbots deployed on a real estate developer website can help solve the customer queries after working hours. The pre-programmed chatbots can help the customer find the property according to their desire by asking some general questions.
Peer to Peer communication online
Before the internet happened the verbal publicity of the project was enough to let people know about the homes that are available. With the advent of the internet, now there are online chat forums in which a property seeker can be a member and get to know about several properties available in the project.