What Are the Effects of PropTech on the Real Estate Sector?

Kishan Thakkar K

The world is quick in the adoption of technology and digital mode in daily activities. Real estate is no exception in that. The real estate players have identified the benefits of PropTech, a few years ago. The Covid pandemic has acted as fuel for the excessive use of digital tools in the real estate market. 

One of the biggest benefits of digitalization is you can buy real estate assets from anywhere without physically going there. Virtual tours of the home, walkthrough of the home, transparent communications, guidelines of RERA, are a few of the additional prerequisites from this era. PropTech is influencing constructively.

“Technology has infused vibrant dynamism into the real estate industry.”

If you’re connected to the real estate industry in one or other ways, you might have heard the term ‘PropTech’. Before understanding the rise of PropTech due to the digital revolution. Let us understand what the PropTech is…

Well, there are many ways to define PropTech. Let me put me this in simpler way!

PropTech is a shorter form of Property Technology, it refers to the use of information and use of technology in the buying, selling, and management of real estate projects.

PropTech assists buyers, investors, and stakeholders of real estate projects. It is an aiding factor in project management, sales, research, and overseeing their assets. It helps the homeowners in numerous ways. It stands for all the companies that are making real estate industry by the use of technology. It will surely evolve as time goes. In one of our blog, we have discussed everything that you need to know about technology in real estate sector. 

For more knowledge on this topic, you can read the blog written by Christina Yoh, from clicking on this link, What is “PropTech” and why companies are developing it

Benefits of PropTech

PropTech has made the real estate journey smoother and more advantageous for buyers, sellers, developers, agents, landlords, with exceptional and advanced tools. PropTech has been an aiding factor from the provision of information to assist in buying the home. Here is how technology benefits the real estate industry.

1. Making Informed Decisions

PropTech offers the collection and analysis of the data to the agents, developers, consultants, etc. This provides insights on market trends, understanding buyers’ inclinations, and competitions. It helps in making informed decisions within a limited time and resources.

2. Data Storage

Real estate companies were relying on physical data room to decide before cloud computing came into the picture. The companies can now store their documents and access the data over the internet from any corner of the earth. This also allows transparent transactions.

3. Better Advertisement

PropTech has opened a new pathway for advertising and marketing. From lead generation to funnel optimization, PropTech is providing multiple tools for helping real estate companies. It also helps in creating brand awareness.

PropTech is a helping factor in publishing listings, offering 3D virtual tours, etc. This has made the process convenient for both, buyers and sellers.

4. Improved Communication

Communication has been improved throughout the real estate sector. Real estate companies and customers can stay connected with the help of apps and chatbots. This also keeps them updated on the progress of projects.

While there are benefits that are helpings resolve user queries, there are other advanced tools that have improved the functioning of the real estate industry.

We have discussed various applications and its feature for Finding home for sale using technology.

How You Can Use PropTech for Taking Better Decisions?

To begin with, you start your transaction in real estate by searching with one of the famous PropTech named, Magicbricks, NoBrokers, InfraMarket, NestAway, Livspace, PropTiger, Square Yards, Stanza Living, Settlin, etc. These are some of the leading PropTech startups in India. 

We have discussed the basics of all this PropTech start-up, like the founder, founding year, etc. Take a look at it. We have also discussed the comparison factors for the homebuying process, click here to read that blog.

On a Final Note

However, the rising technology is surely going to change the way the real estate sector work. PropTech has still scope to grow further in the contribution in direction of the convenience of both, buyers and sellers. Before a few years, buying and selling properties without going to the site, seems impossible. 

You’re reading a blog on our website is also an example of the digital rise in the real estate sector. You can read our blogs on The Real Talks. 

Staying informed and discussing with experienced & experts while making a decision is an ideal way of making a great deal. All you have to do is contact RoodLand, which provides the best real estate services. For any queries and suggestions, contact us at info@roodland.com and discuss all of your options with us! 

RoodLand is a business solution and advisory organization for the Real Estate sector. It is founded by young professionals with experience in management, marketing, finance, and digital technologies. With their innovative marketing concepts and out-of-the-box methods, RoodLand has successfully delivered amazing results across the region. 

Consider sharing with your friends, family, and relatives, if you have found it useful. 

Thank you for reading! 🙂


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