Photo by Breno Assis on Unsplash

Is this the future of real estate firms?

It is a fact that technology has enhanced in the real estate market, where there an explosive growth of agents and owners competing for the buyer’s attention. Most of the real estate industries have used a traditional model of selling properties but it’s indisputable that digital technology has transformed the industry and the way people buy and sell houses.

Virtual Reality Tour

Virtual reality tour It’s the pivotal part of the home buying experience as it’s not a digital recreation but actual footage of the property. It is a great marketing advantage where anyone can hold and observe the virtual tour for minutes, allowing anyone to invest more time and take the next step in purchasing.

It allows agents to acquire more clients, grow their business, and deliver high-level services along with reaching more buyers. It can also increase the listing’s sale rate and helps a realtor receive more listings. Virtual reality is expected to be a trend that top real estate agencies in Dubai will be using in a couple of years.

Blockchain technology

With the rise of cryptocurrency, Blockchain has the potential to change the way business is done and the real estate market. Blockchain has enabled people to securely and efficiently share data and money. Within the industry, blockchain technology is used for real estate transactions, including contracts and lease registrations in the future to be completed without attorneys or companies. The data will then be shared with utility providers and other property-related entities for efficiency.

Big Data Analysis

Big data analysis provides buyers with knowledge and facts about a development or neighborhood, the people, market trends, price index and other data. Realtors use data to make accurate and quick decisions that tailor to the needs of clients and potential buyers, making it a more personalized approach. Some of its benefits include Insurance analytics, Finances, targeted marketing, money laundering prevention and much more.

The internet has evolved. Today, people have access to information across the spectrum. Real estate agents are constantly searching for ways they can gain an edge.  In other words, digital technology is the new real estate broker in Dubai and virtual reality, blockchain and big data are game changers in the ever-changing real estate market.