About Real Estate
The commercial real estate industry has been slow to innovate for a major portion of history. However, there are almost no industry that has not woken up to the changes brought in by the internet.
One major change is the fact that the role of real estate agents has been diminishing as the real estate industry turns the corner of modernisation. The internet has enabled the customer to research and educate themselves about any property they want and thus eliminating the need of agents in the standard procedure.
The end-user is now least dependent on a real estate agent for their information. Therefore, the test for most real estate companies is the way that they integrate mobile technology into their work processes, to what extent they engage with the customers, and how they add value to the information that the aware end-user already has.
The integration of mobile technology into the real estate industry will have to be in a manner that benefits the end-user in definitive ways. Internet is the future and advent of new technologies every day has been acknowledged by the real estate industry. Most real estate organisations have introduced their mobile applications and are extending its implications further.
The Role of Mobile Applications
Mobile applications in the reals estate industry are making in-roads and changing the real estate industry landscape gradually. The need for these mobile applications were felt when end-users and customers began to use the internet to gain knowledge about property and bypassing agents in the process.
Mobile applications in the real estate industry, thus, is an attempt to improve the entire property buying process simpler and more rewarding for the customers. Mobile applications that are launched by real estate companies are helping customers survey properties without actually going to visit the sites. These mobile applications often list properties on the basis of the locality, cost, status of the project, value-add features, and images of the site. A recent upgrade in the mobile applications used by real estate industry is the introduction of 3D images of properties. The core goal of these mobile technology integration with the existing real estate systems is to ease the property buying process for the populace.
The Role of AI
Artificial intelligence is not the future, and a creation of science fiction. It is real and present. Every industry is finding its way through the “how to integrate artificial intelligence into existing system without causing major damages to the employment rates in the industry”. Real estate industry is in the same danger, mobile technology can eliminate the need for agents; helping customers connect directly with property owners. Companies will have to find a way in which artificial intelligence can be beneficial for everyone involved. Thus, implications of artificial intelligence will include the ability to analyse the characteristics of the customers, their needs and wants to personalise the entire process as much as they can. In the future, real estate portals won’t make recommendations based on physical characteristics but match properties to individuals based on personality traits and preferences.