How Technology is Changing the Real Estate Industry?

The real estate business for a long time has been the domain of businessmen and human interaction. For a long time since the demand for properties became popular, the involvement of technology on the consumer side of things was minimal. People invariably wanted to view the properties themselves and make payments directly to the builder. The home loans and other requirements also were accessed directly. The technology was not a popular way to deal in the property businesses. However over a period of two and half decades, all that has changed. There are a number of ways in which the property business has benefitted from technology. In fact when it comes to the comparison with the way the business was done a decade back, the difference is stark. The reliance on technology has increased considerably and today one can use online services not only to search for houses but also home loans and real estate agents. The popularity of the business has increased and more and more innovations are being made in the technology domain to enhance the reach of property business.

What has led to the growth of the usage of technology in property sector?

There are a number of factors because of which property business has witnessed an increased usage of technology over the years. Whether it is the search for real estate agents in Gurgaon or houses in Mumbai, the facility now is available in our hands. Over the years, the consumers themselves have started relying on technology. It perhaps started with online retail whose huge success made technology considerably popular amongst the end users. The builders also realized that they could capitalize on this acceptance of technology and started offering new housing options over the internet. It is not just this that was responsible for the rise of use of technology in the property business. There are a lot of their factors that are involved as well.

Assume you are searching for property dealers in Gurgaon. Earlier you would have had to visit the locality and find the dealers yourself. Today the internet has levelled the playing field. There are comprehensive repositories of information which are available online using which one can search for real estate agents and even properties.

In the year 2015, the property business in the country has witnessed a rise after a period of downfall. The overall growth in demand for housing in the city has emerged quite prominently and the property business across the country has emerged once again with fervour. This time around there are resources available online and apps available on mobile devices that allow consumers to actually select properties and decide on their purchase using technology. The merging of numerous technologies to offer real time services to the end users has helped in the proliferation of property business unlike ever before.

What lies ahead?

The reliance on technology to search for houses, loans, people, agents, information etc. is not only increasing but also becoming ever efficient. Property portals like housing.com have ensured that the use of technology can make information exchange more transparent and online services more reliable. With the increasing reliance on mobile devices, the focus now has shifted on the mobile platform and there is a huge demand services online.

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