The real estate industry has historically been slow to change. However, in recent years, technology has transformed how we buy and sell homes. From new ways of marketing properties to smartphone apps that make it easy to find your next home, technology is changing the real estate industry in a big way. Here are just a few ways technology is changing the real estate industry.
1. Property Marketing Is Going Digital
In the past, if you wanted to sell your home, you would need to hire a real estate agent who would then list your property in the newspaper or on their website. Today, there are several digital platforms that allow you to market your property directly to buyers. These platforms include sites like Zillow, Trulia, and Redfin.
By listing your property on these platforms, you can reach a larger audience of potential buyers than you ever could have before. You can also use these platforms to your advantage by researching comparable properties in your area.
2. You Can Get a Mortgage Online
Gone are the days when you had to go into a bank to apply for a mortgage. Now, you can do it all from the comfort of your own home. Several online mortgage lenders can help you get pre-approved for a loan. Once you have been pre-approved, you can start shopping for your new home.
But before you start the process, be sure to compare mortgage rates from a few different lenders. You may be able to get a lower interest rate by shopping around. Not only that, but some lenders may offer special programs that can save you money.
3. You Can Now Buy or Sell a Home Online
In the past, buying or selling a home was a process that could only be done in person. You would need to find a real estate agent, schedule showings, and go through months of negotiations before finally signing on the dotted line. But several companies nowadays allow you to buy or sell a home entirely online.
Companies like OpenDoor and Knock allow you to list your home for sale and connect you with buyers interested in purchasing your home. These companies also offer financing options, so you can avoid going through a traditional bank when selling your home.
4. There Are More Rental Options Than Ever Before
If you are not interested in buying a home, there are more rental options available than ever before, thanks to technology. In the past, finding an apartment or house to rent was time-consuming, scanning classified ads or driving around neighborhoods looking for “For Rent” signs.
Now, there are several websites and apps that make it easy to find a rental property. Sites like Zumper and ApartmentList allow you to search for rentals in your area by price, several bedrooms, and other amenities. You can even set up alerts to notify you when new listings become available.
5. Smartphone Apps Make House Hunting Easy
In the past, if you wanted to look at houses, you had to physically go to them. This meant scheduling appointments with real estate agents, driving around to different neighborhoods, and dealing with many in-person interactions.
Nowadays, there are dozens of apps that make house hunting much easier. You can browse listings, schedule appointments, and even take virtual tours of properties without ever having to leave your couch. Some of the most popular house-hunting apps include Redfin, Realtor, and Zillow.
6. You Can Use Technology to Save Money on Your Home
From solar panels to home automation systems, there are many ways you can use technology to save money on your home. Solar panels allow you to generate electricity, saving you money on your energy bill. Home automation systems let you control your lights, thermostat, and other devices from your smartphone.
Not only can these devices save you money, but they can also make your life easier. For example, with a home automation system, you can turn on your lights before you get home, so you don’t have to fumble around in the dark.
As you can see, technology is changing the real estate industry significantly. Technology is making it easier to buy, sell, or rent a property, from new ways of marketing properties to online platforms that allow you to buy or sell homes without even stepping foot inside them. So if you are looking to buy or sell a home or rent an apartment, be sure to take advantage of the many technological resources that are now available. You will be glad you did!