Aug 8, 2018
Top Technologies Impacting The Real Estate Market Today
1. Purpose-Built Data Management Systems
Modern real estate software is moving the industry from paper and spreadsheets to new systems to collect, process and store critical data. The flow for financing, acquisitions, development and fundraising benefit from streamlined workflows and data management. These new systems allow firms to create actionable insights through data visualizations, task automation and more programmatic portfolio management and transaction execution.
2. CamScanner App
For me, the CamScanner app has been invaluable. Being able to remotely execute the docs required to close deals and conduct business has been a game changer. In a broader sense, the capabilities of smartphones have changed everything, from the way we search for and vet investment properties, to how easy it is today to use tech to wholesale properties in any area, from any area. Geography no longer matters.
4. Property Website
Online sites like i-property, property guru and Google allow the customer to shop online, view photos, compare sales, research market trends and even walk the street prior to visiting. Customers of today are a thousand times more knowledgeable than pre-internet buyers. It's a pleasure working with educated buyers, as more time can be spent on the more complex issues and pitfalls of homebuying.
5. Automation Tools
The most meaningful advances in technology for the apartment building brokerage industry are in the automation arena. Data and machine learning are evolving, so that predictions of rents, expenses and underwriting can all be automated.
6. Tenant Communications Apps
Applications such as Tokeet and TenantCloud have made it much easier to professionalize, organize and communicate with our tenants in our residential, as well as vacation, rental business in the US. The apps offer a way for tenants to send requests and they give you access to timely reports to ensure you are top of your rental finances. Perhaps is about time for Malaysia to have these apps.
7. Electronic Signature Programs
I think the evolution of the e-signature has made a significant impact on the productivity of the various lines of business associated with real estate transactions. It has reduced time-consuming face-to-face interactions, inefficient faxes and various unnecessary steps. It provides each party the time to properly review questions and concerns while meeting compliance and providing an audit trail.
8. Video Emailing
Long-distance communication is key. It's like being there when I can't be there. I can share my screen and explain escrow documents line by line, for my clients' better understanding. My clients can answer my video by using video with one easy click. It's just more personal!
9. Google And Facebook
The big data search engines and social networks collect on users has made it incredibly easy for businesses to pinpoint their best customers and connect with them at the right time, with offers that really provide value and solve their problems. Facebook retargeting ads have been some of the best investments. Now Google has seriously upgraded its capabilities for pay-per-click marketing, as well.
Article source: Forbes