Discover How the Real Estate Industry is Adapting to Technology
The global pandemic has brought about significant changes in the real estate industry. However, real estate has always been resilient, and professionals are adapting to the new normal with innovation and new practices. At 999phuketproperty.com, we’re celebrating the determination of the real estate and property technology (PropTech) community to survive and thrive during these challenging times.
We’ve gathered some helpful tips and hints to make your transition into the new way of working as smooth as possible, and to prepare you for the future. Our global snapshot of the real estate market provides valuable insights into the current conditions, allowing you to make informed decisions.
At 999phuketproperty.com, we understand the importance of adapting to the changing landscape of the real estate industry. Contact us today to find out how we can help you navigate the new normal and achieve your property goals.
Let’s Get Digital: The Global Shift Toward Online Real Estate Agency
As the world grapples with the new normal brought on by the global pandemic, the real estate industry is undergoing a digital revolution. While the internet has long been the starting point for property searches, the buying, selling, and renting process has traditionally been paper-based and laborious. However, the industry’s shift towards digitalization has expedited in the past year, allowing agents to gain more capacity, close deals quicker, and move more people with less red tape.
Forbes contributor and PropTech journalist, Angelica Krystle Donati, emphasized the importance of tech solutions in the real estate industry’s future. As real estate professionals adapt to this new way of working, embracing technology will be key to thriving in the industry. The global shift towards online real estate agency is not only improving efficiency but is also making the buying and selling process easier and more accessible for everyone.
At 999phuketproperty.com, we recognize the importance of staying ahead of the curve and embracing the latest digital solutions to provide our clients with the best possible service. Our team is committed to navigating these changing times and providing you with the latest insights and trends in the real estate market. Contact us to learn how we can help you in this new era of digital real estate.
“ In the immediate future, technologies that reduce the need for human contact will be the clear winner; be they gesture-based building controls, platforms that eliminate the need for any human contact in real estate transactions, or technology that enables safety and social distancing on construction sites.“
Angelica Krystle Donati
Forbes Contributor/PropTech
Embracing the Digital Age in Real Estate Investment
As the world continues to grapple with the pandemic, the real estate industry is rapidly adapting to the new normal. Real estate crowdfunding, which was once dominated by younger generations, is now gaining attention from seasoned investors who are constrained by social distancing and travel restrictions. In the United States, remote real estate investment is being facilitated by companies such as Fundrise, Realty Mogul, and CrowdStreet, using just a smartphone for setup and asset management.
The industry is also ditching traditional paper-based processes for more efficient digital solutions. In the UK, a new committee has been formed to create property logbooks that will digitize upfront sales information. With digital records, information sharing and access will be improved, and the property completion timeframe will be significantly reduced, by a matter of weeks or even months.
As we move towards a more digital future, embracing technology in real estate investment and management will be key to staying ahead of the game. With the right tools, investors and agents can make deals quicker, more efficiently, and with less red tape.
The Role of Blockchain in Real Estate:
Trials and Triumphs Blockchain technology is rapidly gaining traction in real estate globally. France was the first to establish a consortium to explore the use of blockchain in property, with the creation of the French Federation of Blockchain Professionals. Meanwhile, Dutch property fund owner Max Property Group (MPG) has unveiled version 2.0 of its Max Crowdfund app. This allows global investors to access real estate investments securely and efficiently through blockchain technology and Anti-Money Laundering (AML) procedures. Blockchain also has the potential to revolutionize the recording and transferring of land titles. Trials are ongoing in countries including Sweden, Ukraine, the United Arab Emirates, the UK and the Republic of Georgia. In Chile, JLL highlights the technology’s potential to significantly reduce the traditional timeline and improve transparency. Stay updated with the latest developments in blockchain technology in real estate.
Embracing Remote Notarization in Real Estate Transactions
Discover how remote notarization is changing the real estate industry. Learn how Notarize.com’s online platform is allowing Americans to complete notarizations without face-to-face meetings.
The COVID-19 pandemic has forced the real estate industry to adapt to a new way of doing business. With social distancing and safety measures in place, many face-to-face appointments have been replaced with virtual alternatives. One such innovation is remote notarization, which has quickly gained popularity in the industry.
Notarize.com is leading the way in remote notarization services, allowing consumers, businesses, and notaries to complete notarizations online without the need for face-to-face meetings. This innovative solution has been particularly important during the pandemic, allowing for the completion of the 100 million notarizations that require a seal and signature each month in America.
Remote notarization has many benefits, including increased convenience, improved efficiency, and reduced costs. By eliminating the need for in-person meetings, real estate transactions can be completed more quickly and with less hassle.
As the industry continues to adapt to our new normal, remote notarization is likely to become an increasingly important part of the real estate landscape. By embracing this innovative technology, we can ensure that real estate transactions can continue to take place safely and efficiently.
Gain Agility in Real Estate with Online Auctions
earn how Australian real estate agents are using live-streamed auctions to seal property deals and stay agile during COVID-19. Discover the benefits of integrating online auction platforms like AuctionNow, Bidtracker by Real Time Agent, and Gavl into your setup.
Incorporating online auctions into your real estate business can help you stay agile and close sales even during social distancing measures. Australian real estate agents are leading the way with live-streamed auctions using platforms like AuctionNow, Bidtracker by Real Time Agent, and Gavl. These integrations allow real estate businesses to continue operating while observing pandemic restrictions.
Mansion Global also recommends using digital solutions like Facebook Live, Zoom, and Google Hangout to adapt to the new normal. By embracing online auctions and other digital tools, you can keep your real estate business moving forward and thriving.
Digitalizing Real Estate Searches: Portals and PropTech Real estate portals are adapting to the new normal and embracing PropTech at a rapid pace. Here are some of the latest initiatives from around the world:
US Redfin, the most popular brokerage in the US, has been leveraging Matterport 3D scans since 2014. Redfin makes it easy for agents to highlight their listings with a Matterport 3D virtual tour, which has resulted in a 303% increase in views of virtual walkthroughs on Redfin.com since the pandemic began.
Germany Germany’s largest property portal, Immobilienscout24, features over 16,000 listings with virtual tours. The visual tool has reportedly given sellers an average 40% increase in interest from potential buyers.
UK Rightmove and Zoopla, the UK’s leading portals, had virtual tour tabs on their listings before the pandemic. In 2020, Rightmove announced enhancements to its automated online viewing feature. Prospective buyers can request an online viewing when they send an inquiry, and agents can then send a link to a video or virtual tour hosted on their own website, or book a video walkthrough using a video calling app.
Malaysia In Southeast Asia, PropertyGuru’s FastKey platform lets developers showcase properties to prospective buyers through 3D visualization.”
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Read as well our article about: Future-Proof Your Real Estate Operation: Hints and Tips
