The real estate industry of India has grown steadily this year. Apart from new affordable project additions, many foreign players have entered the market.
The percentage of Indian real estate investment is also visibly higher than ever before. All of these happened due to the new technologies adoption into the real estate industry.
Here are the Top 10 technologies that are making a huge difference in this industry.
A real estate business always seeks a proper notary system at place. Maintaining the notary system can be a hectic task if you do it manually. The revolution of the electronic notary system has created a significant impact in making real estate business.
This eliminates the wet signature process and lets you do the authorization tasks virtually with utmost security. Just with a laptop and a working electronic system, you can save a lot of money and time. You can efficiently transact the financial documents which need notarization by the authority.
Chatbots are no doubt the game changer for any business. It sets the level of personal communication that no other communication mediums can touch as of now. If you are the owner of a real estate niche website then implementing an adequately customized chatbot can do wonders for your business.
A chatbot can engage your visitor with live conversation capability and close a sale faster. Many customers opt for dealing with a website that has instant communication facilities. The owners of the renowned commercial and residential property in Noida, Gurgaon, Delhi, Mumbai, Bangalore, Kolkata, and other hi-tech cities are already using chatbot as a core feature in their websites.
Making the property valuation process automated is quite time and efforts saving. An automated property valuation system that is abided by legal terms and is well optimized is an excellent companion of the real estate professionals.
Not just builders can evaluate the land or property before starting a particular project but, the buyers can also use this facility to invest or buying-selling a property. It becomes a handy tool for the property lawyers and real estate investment consultants too to give their clients prompt suggestions.
The Government officials are already taking advantage of this technology, and many real estates focused startups are looking for implementing the same.
Virtual reality or VR technology is a trending topic nowadays. Most of the business owners are looking forward to implementing this technology into their processes to modernize the way of making business.
Virtual reality technology turns a tedious and complicated concept into an entertaining fun thing. Potential buyers engage more with a company who uses VR to make stuff easily understandable.
Just like virtual reality, augmented reality is also attracting the eyeballs of real estate professionals. Using AR, a real estate builder can showcase the upcoming property in a better and more interactive way.
Not only for showcasing purpose but adopting augmented reality can add extra elements to your visual building plan. The team can convey their messages interestingly among themselves.
Be it real estate or any other vertical, data analysis is one of the main features of a profitable organization. When you have the proper data in your hand, you can take better decisions in no time.
Many builders, having upcoming projects in Noida Extension, Delhi, Mumbai or anywhere else are taking advantage of accurate data analysis for project betterment. Data can be in several forms like neighborhood info, potential buyers’ info, competitors’ data, or anything else. This way, the builders can deliver better projects with the most necessary amenities and facilities on time.
Artificial intelligence aka AI is the future of making business. Data says a company using AI sees a higher conversion than a company not using AI. With AI, you can automate any processes of your business.
Artificial intelligence is at its peak these days, and you need to update for competitive advantages. Using AI, you can eliminate the middlemen and save some pennies. From collecting data to analyzing it, prepare a plan, automating the entire marketing procedure, creating a profitable sales funnel, everything is possible with AI.
Not only with these but AI can help you in a more personalized way. You need to develop a program using the artificial intelligence technology according to your need.
Blockchain can be considered as a virtual ledger. A blockchain records the transactions made through the cryptocurrencies like Bitcoin, Ethereum etcetera. The craze for cryptocurrencies is increasing at a rapid pace.
Bitcoin investment is the talk of the town now as it has a higher return on investment with lower risk. Looking at its future potentiality, companies are using cryptocurrency as a payment method for their product or services. If you are not into it already, then you should give this technology a look.
Automated Transaction Management Platforms:
When it comes to a real estate venture, it becomes the matter of multi-level transactions both from a builder’s perspective and a buyer’s perspective. While a builder needs to pay to several concerned persons to complete a project, a buyer also pays the lease or rent amount and other additional charges.
There comes the use of a fully automated transaction management platform that eliminates the middlemen and eventually reduces the expenses. A computerized transaction system is more accurate and takes less time to operate. The bigger the business size is, the higher the need for implementing an automated transaction management system.
Real Estate Crowdfunding:
Real estate crowdfunding is a reliable yet affordable investment option in the first countries. For the time being, the enthusiast Indian entrepreneurs are looking for new ways to come up with a technology-driven real estate crowdfunding platform to make the real estate more transparent and affordable for everyone.
Once this idea put into best practice, then it would be a win-win situation for both the builders and investors. The builders will get their project funded at a fast pace, and the newbie investors will be able to invest in a small budget.
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