With the entire population under full lockdown, people can only leave their homes to travel to work and in the event of force majeure. As a result, it is no longer possible to conduct on-site property viewings, sign contracts in person, go to the notary’s office or attend meetings. That’s why it is more crucial than ever for your company to offer technological and online solutions to ensure you are not left behind.
Traditional real estate firms and property owners can tap into a wide range of technologies to keep their revenue afloat. Advertising properties by uploading photos to a website is the most well-known form of doing this, however, there are also other tools that allow you to give a virtual tour, ascertain whether a client is solvent, sign contracts online, and accept card payments automatically if a tenant meets your criteria.
Here is a list of technologies and their specific uses:
Virtual Reality (VR) and Rendering:
If you are selling or letting an apartment, you can offer prospective buyers or tenants the opportunity to visit the property and look around it “in person” as many times as they like from the very comfort of their own home thanks to Virtual Reality. Other tools allow you to give tours using 360º photos, or via rendering (computer simulation). Rendering allows users both to see the property before it has even been built and see what their home will really look like by virtually customising an empty apartment with their preferred furniture and decor (Virtual Home Staging).
Chatbots and Artificial Intelligence (AI):
These tools offer you 24/7 access to a virtual agent, which can carry out any kind of mechanical task. They can be used to resolve incidents or respond to people’s queries, as well as conducting automated sales. They can also be used to determine whether a tenant is solvent and allow them to pay online if they are.
Although it still has a long way to go in administrative and legal terms, Blockchain can be used to certify transactions and documents, in order to save time signing paperwork with notaries and, in the best-case scenario, users will no longer even need to go to a notary’s office in person.
This pandemic will eventually come to an end and technology will endure. Many clients, especially among the younger generations, are already using these technologies in other markets. However, people who are more used to traditional methods will start to become increasingly more open to using these tools in the real estate market in the near future, as they are able to provide (almost) the exact same level of customisation via an optimised and remote service.
CEO – De Piso en Piso