Perception is the basis of life. It’s said that there is always something positive in bad things. Whatever we choose will reflect through the outcomes. Same goes with the situation of Covid-19—those who are staying positive, winning the race. People are converting to online platforms to boost up their business and sales. No business had escaped from modern technology, including ‘digital real estate’.
Coronavirus has accelerated the adoption of digital technology, and the industry works virtually. Although the use of online platforms was already introduced in the industry, after the crisis, the use of digital platforms lifted suddenly.
Real estate digital marketing is undoubtedly beneficial for agents. Moreover, it also made the life of buyers and sellers easier than ever.
Let’s find how COVID-19 is accelerating the digital transformation of the real estate industry.
Digitalisation streamlines the workflows
Undoubtedly, digital platforms are a significant contribution to improve the processes of a business for a society obsessed with urgency. After the lockdown restrictions, online appraisal bookings, 3D tours, and virtual listings have taken the place of traditional practices. Thus, its offers a streamlined flow of selling and buying process. They make the experience smooth for both agents and clients.
For example, virtual listings help sellers to present their property online in effective ways such as adding photos and videos of every part of the house. Moreover, they are also useful to make contracts through online auctions. Buyers could register for the auction and set the bids from anywhere through the internet.
On the other hand, it saves the time of house hunting for buyers. Moreover, buyers won’t need to visit multiple places for property viewings. They can just virtually go through different properties at a time, have a clear sense of the property, refine their search, and visit only the property they like.
Thus, virtual real estate offers efficiency, convenience, flexibility and more mobility than the traditional ways.
Makes the selling process Faster and Easier
People are always on the go in this busy world. During Covid-19 crisis, when the situation gets critical, these digital platforms become the choice for independent real estate business. Obviously, going digital makes everything smooth and quick. No paperwork, no documents, and no hassle of getting written appointments. Just go through the website of the company you want to hire, book your appraisal, and get everything done remotely.
Especially, Generation Z and millennials are looking for solutions to manage everything online and make their lives easier. Even though online platforms have become popular from the past decade, yet they were not so familiar for the real estate industry. Generally, online media makes it easier to communicate. Agents could take care of their clients and their requirements, and it has converted the traditional property market into creative real estate.
Can’t avoid traditional services completely
Although online services are easy to adapt, yet in case of real estate digital marketing, a completely virtual environment cannot be suited for each and every consumer. Corona Virus made people rely on online platforms, but several buyers prefer to have a physical inspection before taking a decision.
In this complex property market, it undeniable that human transactions work more efficiently. We should only use technology to improve our productivity and better communication.
I, Naval Aulakh, being part of Raine & Horne, uses online platforms to interact with clients. Vendors could reach out to us with their requirements. But I make sure that we proceed by taking clients need into consideration and bring all the sales with full satisfaction of clients.
Well, it would be exciting to watch if it goes on the same as of now after the situation comes back to the previous pace or not. Probably, there would be a lift in using online transactions in future.
Improves the overall customer experience
From the ongoing digital momentum in Covid-19, we can identify that the digital transformation of real estate will be pursed for better customer experience. With ever-changing trends, people are more likely to stay updated through online media. To match the demands of customers, it is a great way to present business services and transparency.
Hopefully, the mix of digital platforms such as virtual tours, online listings and traditional methods such as home inspections, open houses will bring new life to digital real estate industry and we can get something good out of Covid-19 crisis!