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KNOW YOUR DEALS
Technology adds value to realty business
R. BALAJI
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There is a significant rise in real estate firms opting for technical support in the last two years
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— Photo: M. Karunakaran
Click and buy: The Internet is a powerful tool for real estate today.
Real estate is the largest investment industry in the world. Decades ago, real estate business was done by word of mouth, which gradually shifted to advertising and other forms of media and communication.With technology entering the common man’s realm, now it is by the ‘world of mouse.’ Technology essentially means smart phones, computers, customer management software, internet, intranet, global positioning systems, online mapping, p
rinters, scanners and many more devices/aspects that have made jobs faster and easier.
Virtual assistants
Effective, speedy interaction is the backbone of any business. Though real estate business requires a lot of manpower, ‘virtual assistants’ with special skills like web design, html, brochure layout, graphics design, document management, intranet and more, enhance the quality of real estate service, as they save precious time of the sales team.
To begin with, internet is a powerful tool for real estate today. Most people start their search for a home online. Numbers vary, but realtors estimate three out of four homebuyers start their search on the internet or begin by gathering information online.
Buyers go online to community message boards, discussion forums, blogs and even Google Earth, which allows the users to view online maps and get a bird’s eye-view of a neighbourhood before zeroing on property agents.
Website is the most popular way to display and gather information. Search engines like Google and Yahoo display data of thousands of real estate websites. Day by day, the consumer is becoming well-informed, thanks to internet.
Gaining popularity
Online property exhibitions with pod casts and virtual tours are also gaining popularity, and irrespective of time and location, property can be viewed on videos.
Displays are supported by audio clippings, pod casts are carried out by prominent personalities in the industry, and there is also facility to discuss online!
Every link in the real estate activity chain is connected by technology, giving clarity and transparency to the deal.
Technology is also being used in real estate for advertising and communication, for online surveys, comparative market analysis, and e-newsletters.
According to a survey conducted by NAR (National Association of Realtors) on the use of technology in real estate, there is a significant rise in real estate firms opting for technical support in the last two years.
Websites, emails, smart phones, CRMs and blogs are a few tools which are very popular among the real estate fraternity.
However, online real estate transactions are still a dream. Though technology has added value to the business, thorough understanding of the core real estate business is required.
Technology should be supplemented with well-qualified, dedicated professionals.
(The author is CEO, Propmart, an end- to- end real estate solutions provider)
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Property Plus
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Chennai
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Thiruvananthapuram
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