The Age of Proptech rocketing Real Estate Ecosystem

The Age of Proptech rocketing Real Estate Ecosystem

The touch of technology has redefined and transformed many industries. As Alvin Toffler accurately said the great growling engine for change is technology. There are hardly any sectors in today's time that are yet to witness its tech prowess and changing impact. With a starting point of $998.99 billion in 2020, the worldwide digital transformation market is on a trajectory towards $2744.68 billion by 2026. So, this wind of revolution has also touched the traditional market of property estate. And the real estate industry is gradually embracing technology's impact on it.

The real estate technology market is poised for remarkable growth, with projections estimating a market value of $12.9 billion by 2025. This industry is gradually seeing a leap in its acceptance and usage among developers. The real tech market, often referred to as the prop tech market has made the tiresome, complicated style of real estate business easier. This technical advancement in property estate has ultimately solved many age-old problems and made the entire process optimized. Let's explore the gaps that Proptech has merged and the problems real tech has solved through this blog.

End to Chaotic Management with CRM

One broker handles more than hundreds of clients on average per project.  Customer management in this industry often falls short of providing a pleasant experience. It is mostly very messy, chaotic, and unpleasant with no proper way of optimizing or simplifying it.

With the advancement of tech, CRM tools can make the customer journey much easier. It can streamline payment procedures but also paves the way for fostering strong and lasting connections with customers.

Unburden the Data Load with Tech Prowess

Data is everywhere and in the real estate industry the most common problem is the overburdening data. Whether it's during the property search swapping through millions of estates or documentation of accurate data from time to time. Realty buyers are frequently exposed to misinformation and inaccurate information, primarily because of the absence of a real-time data update system or a reliable source for precise data documentation.

Technology can push the roadblock so easily from filtering property listings according to buyers' need to accurately update data in real-time. Most importantly, technology's significant role lies in the comprehensive documentation of extensive real estate data, resulting in a genuine shift towards transparency and operational efficacy.

Easy Analysis with AI

Real estate professionals frequently miss the opportunity to harness the troves of customer data they accumulate due to the lack of adequate analytical resources. This creates a gap in the property presentation pitch, as that never has a personalized touch. For this very particular reason, customers can not connect with the realtors well, and the interactions get less and less engaging.

The last boon of tech is Artificial Intelligence (A)I, which transforms data analysis into a breeze, as gentle as the air. AI doesn't stop at analysis; it serves as a virtual real estate assistant, adept at conversing with customers and addressing their inquiries. The result is a substantial boost in customer engagement. AI can be used as a real tech solution in multifaceted ways from analysis to conversation. 

Go Digital to Eliminate Tiring Paperwork

Real Estate market is specifically known for tons and tons of never-ending paperwork. From day one of a buyer’s journey till that lead gets closed, it's all just boring paperwork. Imagine losing a client even when your project had the full potential just because of mismanagement in basic paperwork, sounds terrible right?

Weller, there's a bright solution on the horizon. Shifting this heavy dose of paperwork completely online can easily solve this problem. Digital documentation is the new normal to go about it. This transition not only simplifies operations but also frees up valuable time, transforming the real estate process into a seamless and hassle-free experience.

Bridge the Gap of Distance with the VR/AR Approach

Location has always been a major deciding factor for buyers to choose a property. However visiting a property in person isn't an option for all due to distance, location constraints, and many other reasons. Initially with technology’s emergence realtors started sharing static pictures and as a form of property presentation merged the gap. Although 2D pictures can never capture the actual essence of the property. Alongside limited accessibility to property details, traditional real estate presentations also can not always provide enough information on real estate surroundings.

The latest innovation of VR/AR integrations with Real Estate projects can take the presentation two to three scales higher. Sitting in the comfort of your own home now anyone can emerge into a 3D property tour to explore their future home. With technology at its core, real estate has transcended geographical boundaries, fitting into the rectangular screen of your smartphone. Relata VSG component takes care of this exact problem with absolute brilliance

Relata the Proptech Game Changer

With a brilliant team and excellent vision, Relata also has all sorts of tech solutions for the real estate industry. Relata’s excellent product set has made it the first voice of every realtor when it comes to proptech solutions.

Relata VSG in Use at one of our prestigious clients Mega Launch

Relata’s tech solution provides an entire end-to-end solution for the realty market. Whether it's digitizing the pre-sales process or automating the booking process, Relata has answers for all. Whether you want to showcase your property with our world-class VSG gallery or take customers on an interactive virtual tour, Relata has extended its wings on every horizon and come up with the exact perfect solution that makes it the best tech solution for real estate in today's time. With Relata tech lead management is also effortless. Relata Tech believes in making the customer experience better by excelling in each aspect of your real estate project. Technology can always transfigure any industry and real estate is not an exception.

As human beings keep evolving, it is obvious technology will keep getting more powerful, making things beyond possibilities. Tech has not merely touched the real estate industry; it has changed the dynamics in the real estate industry for good. Real Tech not only solved the age-old unresolved conflicts in real estate but also elevated the scenario further. Relata, at the forefront of prop-tech innovation, empowers buyers, sellers, and investors with tools to simplify and enhance the property experience. So, the embracement of prop-tech should continue as this will open all doors of new possibilities in real estate.

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