We've reached an age where technology can handle tasks that most of us never dreamed possible. The Internet, for example, is one of the main lifelines that businesses are using to stay engaged and productive during the COVID-19 outbreak.
Innovations in technology play a large role in real estate too, and they're been making the buying process easier than ever before.
Not sure where to start? Don't worry, we’ve got you covered.
Let's take a look at everything you need to know about what home buying technology has to offer.
The role of a 'concierge' service is relatively new in the real estate industry. But, it's a role that's significantly growing in popularity as time goes on.
Navigating through real estate's numerous obstacles is often a difficult task for buyers to undertake. This is especially true if they've never purchased a home before.
Concierge services aim to connect buyers with a quality agent who will represent them best. It can be thought of as a sort of 'matchmaking' service between buyers and agents, but can also provide buyers with neutral consultation.
At the end of the day, online concierge services are a fast, convenient way to level the playing field for buyers when it comes to real estate. The more comfortable you feel with the agent you work with, the more positive your experience will be.
And, you'll also avoid agents who care more about their commission checks than matching buyers with the home that's best for them.
Digital Transaction Services
As the name suggests, these services offer a viable way for two parties to consent to a legally-binding agreement without having to meet in person. When searching for a home in another city or state, it's often not practical to visit the neighborhood multiple times while the process is ongoing.
Digital transaction services provide a platform for every party involved to review and agree to legal documents concerning the transaction. As such, it's imperative to treat each electronic signature as you would a real one.
This means that you may want to seek legal counsel if you're unsure about certain details of the document.
Utilizing a service of this type will drastically improve productivity for all parties, and will also save money on hard costs.
You'll also likely be able to forego much (or all) of the closing process, which is something both sellers and buyers are sure to appreciate. As previously mentioned, though, it's recommended that you get any necessary legal advice during this segment of the buying process.
One of the most useful benefits that real estate technology provides is the opportunity for buyers to browse through 3D floor plans of homes.
Not only will this give them an idea of how the home will feel, but it will better help them visualize how they'd like to personalize it. This is particularly true for buyers who would like to make additions or renovations to the property after they move in.
Perhaps the most important attribute, though, is the insight the buyer will get into how large the rooms of the house are. Those who need rooms of a specific size (such as for an office or their children) will essentially be rolling the dice if they aren't able to visit the home in person.
This is due to the fact that it's not uncommon for room dimensions to be inaccurate (or simply estimated) when they're listed. 3D floor plans are a reliable method to gain perspective into how your experience in the home will be once it's furnished, as well.
Some 3D renderings have been recorded multiple times, meaning you'll be able to see what the home looks like both furnished and unfurnished. For those who have a large amount of furniture and personal belongings, this level of flexibility is highly beneficial.
Virtual Realtor Walkthroughs
For buyers who don't already have a home in mind, it can be difficult to find an ideal home in your local market. Under normal circumstances, your search would be even more complicated due to it involving driving all over the city.
With augmented reality technology, though, you'll be able to experience a walkthrough of a specific property from any location.
The process will mirror a conventional walkthrough, and an agent will showcase the home's major selling points, such as upgraded hardware, unique attributes of the home, etc.
High-quality cameras are used to capture footage of the home, ensuring that you can easily see all of the details that are present. An agent will also guide your experience through the home while providing
Since it's far easier to schedule these tours (if they require scheduling at all), you'll drastically speed up the buying process. This can reduce the inconvenience that buying a home typically comes with, such as handling transaction obligations after work or on weekends.
Making Full Use of Home Buying Technology Can Seem Difficult
But it doesn't have to be.
With the above information about home buying technology in mind, you'll be well on your way toward taking full advantage of everything that it has to offer.
Want to learn more about how we can help? Feel free to get in touch with us today to see what we can do.