Use technology to boost real estate sales! A new shift in the trend of real estate buyers and sellers

Hand-outs, brochures, hoardings and print advertisements are no longer enough to grab customers’ attention. New technology is here to transform the real estate industry. Developers are now moving forward from traditional mediums to AR & VR, to help customers visualise their property, enable faster decision making and thus boost sales. The Indian industry has attracted Rs. 5500 crores in private equity so far. VR serves as a platform to increase the level of transparency in the real estate industry. Give your customers an immersive experience of your project? What if your customer could walk in to your project, explore surroundings, explore the property, amenities on their mobile? Not only that, what if your customers can explore the availability, budget, size, floor, directions at the comfort of their homes. Especially when it’s as easy and fun as a game. Here are some technologies which are transforming the real-estate and boosting their sales. VR in real estate VR in real estate has transformed the concept of selling. Today many big, medium and small developers are giving virtual tours of their property to customers. It saves time, is cost effective and helps shorten the sales process. VR helps developers during sales slack period like week days. Projects can be explored and pitched to potential buyers on a click. Luxury sales also hinges largely on immersive experience of the property. According to a report 20 billion dollars is the total VR industry revenue to be generated by 2020. AI in Real estate Research and Markets.com report says that the global chatbots market to grow with a CAGR of 27.5% over the period of 2018-2024. Chatbots are powered with artificial intelligence which reduces the dependency on 24/ 7 customer service team and cost that comes along with it.  Developers are now using chat bots to provide 24/7 sales assistance to prospects. It helps maintain contact with customers, increases engagement and interaction and helps filter qualified leads from generic inquiries, which further helps to boost sales. Big data in Real estate Big Data analysis reveals and comforts buyers with knowledge and facts about the neighbourhood, its people and trends. Reducing risk of buying and predicting changes in home value for potential buyers. There is an entire influx of information that is available to the realtors now.  The utilization of Big Data streamlines the valuable potential the industry has for further development. Its application in the real estate sector has been beneficial not only to the property owners but also to the stakeholders. Conclusion   New technology has already started transforming the real estate industry. There is a noticeable change in buyer’s trend. Buyers are updated and constantly look for a high-tech experience. Walking customers through your project aids visualisation and helps market your project better and thus induce sales.