Admin

Digitization in real estate: Need of the hour!

21 October 22

Digitization and the age of the internet have rapidly changed the world around us. The pandemic has, in turn, fuelled the growth and advancement of the internet around the globe. It has transformed the way we work, consume and interact with the rest of the world, especially using the digital medium. Many industries, including real estate, have realised the brighter side of digitisation, including real opportunities for improved customer-centricity, faster growth and greater innovation for all.

Adapting to New Normal

To say that real estate today is different from yesteryears wouldn’t be wrong. It is one of the oldest industries in the world and has witnessed incredible changes throughout the years. Unlike other industries such as banking, retail, and healthcare, the digitization of real estate has come in late and picked up, especially after the pandemic. The pandemic, to be honest, has worked both in favour as well as against the sector. Real estate got a boost, with construction at an all-time high after the pandemic. Several new trends and technology have emerged in the market and they have a significant impact on how the industry operates today.

Undoubtedly, the way buyers and sellers do business has changed, all thanks to the internet and smart devices. Buyers can learn more about any property or broker, as well as interact with them from the comfort of their homes using just their smartphone or device. Today, most people prefer to buy or rent homes from the comfort of their homes using technology. Digital technology has enhanced the house-purchasing experience for customers, while simultaneously boosting operational efficiency for real estate brokers. A buyer today has to just type in his demand and requirements in the search bar and scroll through websites to find one’s dream home. 360-degree views and virtual tours allow potential buyers to digitally tour houses without physically visiting them. The rise of 3D rendering charts has allowed customers to take a 360º view of the property from their phone, anywhere, at any time.

Simplifying Real-time Data Analysis

Apart from giving leverage to customers, digitization in real estate has also helped developers and brokers to a large extent and eased work for the people in the industry. Real-time data analytics helps them gain insights into what their clients want and saves time. Agents today use client preference information and apply machine learning to find properties that fit customer needs.

It has also simplified documentation for the entities involved. From contracts to inspections and closings, a single transaction in this industry can create or call for over a hundred pages of documents. Digitization of documents has helped real estate agents to manage, find, and share important information with involved stakeholders easily.

The Future of Real Estate Digitization

The real estate market in India is regarded as one of the world's fastest-growing industries, alongside Canada, China, Australia, the United Kingdom, and the United States. Along with digitization and technology, Artificial Intelligence has also made its presence felt in real estate too. Industry experts predict that AI in the sector has helped in boosting house rental and sales by 30% in the last fiscal year.

Most real estate giants have today adapted to technology and its changes. Every real estate magnet has a dedicated website informing clients about their achievements. It does not just update clients about new projects, but also provides virtual tours, and helps buyers make an informed decision.

To say that digitization has come as the saving grace for real estate in recent times wouldn’t be wrong. Internet, virtual tours, automated transactions, and tailored services have led to the ultimate boom for the industry. Transitioning from offline to online marketing will not be a simple process, but is the need of the hour to make the business grow.

At Paranjape Schemes, we keep evolving and upgrading with time to provide the best for our customers. With 360-degree virtual tours, and customized services, we ensure that our customers experience the best and choose what suits them best. Learn more about us and our projects at https://www.pscl.in/

References:

Looking for something else?

blog

Posted November, 2022 | By: Admin

Plotting - The newfound love for realty investors!

When it comes to managing our wealth and resources, we are always on the lookout for the best investment options. A sound investment is

READ MORE
blog

Posted Nov, 2022 | By: Admin

Shrivardhan: Konkan's thriving destination for vacation homes

Shrivardhan – the town of the Peshwas is today famous for its rich history, betel nut canopies and well, its pristine beaches.

READ MORE
blog

Posted October, 2022 | By: Admin

Digitization in real estate: Need of the hour!

Digitization and the age of the internet have rapidly changed the world around us. The pandemic has, in turn, fuelled the growth and advancement of the

READ MORE
blog

Posted October, 2022 | By: Admin

Ganarang 2022: A Glimpse into grand festive celebrations!

At Paranjape Schemes, we are one big family of ‘Paranjapeans’, as we fondly call ourselves. To promote building bonds with the community you live with

READ MORE
blog

Posted Sept, 2022 | By: Admin

Home for the Hotshots & Thriving Investments: Bandra East

Mumbai, the city of dreams, has been a thriving commercial centre for centuries now. Be it MNCs, local big and small businesses,

READ MORE
blog

Posted August, 2022 | By: Admin

Perks on Living of the Western Side of Pune

Pune, one of the largest cities on the Deccan Plateau, has flourished as an economic, residential and cultural hub for centuries.

READ MORE
blog

Posted August, 2022 | By: Admin

Making this festive season great, with community building!

The Indian calendar is marked by a number of festivals and days of cultural importance, courtesy of its vast diversity and population

READ MORE
blog

Posted July, 2022 | By: Admin

Tips & tricks to maximise space in your home!

While living in cities has its perks, it often also means living in compact homes. One of the major killjoys of living in metros is the space...

READ MORE
blog

Posted July, 2022 | By: Admin

Experience Monsoons, the Forest Trails way!

With their arrival in the city, the monsoons have brought in a breath of fresh air. The chilly winds and drizzles have enveloped the city in a blanket of green.

READ MORE
blog

Posted June, 2022 | By: Admin

Athashri: A healthy environment for the elderly!

Picture this… you wake up to the chirping of birds, step out comfortably for a walk in the park. As you step out, you breathe in the fresh air

READ MORE