Technology has completely changed our everyday lives, and its benefits can be seen in all industries. One sector that has felt a great impact is real estate. The rise of proptech has improved sales, making it easier than ever before to close deals.
Join the property marketing experts at Strawberry Forge as we explain how the sales process has changed thanks to proptech.
Online Sales & Advertising
The internet and social media platforms might not be property-specific, but there’s no denying the impact they’ve had on property sales.
Online portals and virtual auctions mean you can view any property for sale from anywhere in the world, and even make a purchase. Savvy investors from countries such as the UAE and China put together very profitable UK-based portfolios this way.
Rightmove has dominated the UK market for years, making it easy for agents to showcase their properties and allowing buyers to see thousands of potential new homes at the click of a button. But tech has developed greatly since Rightmove was first established, and brands such as the Kamani Property Group are capitalising on this to challenge the way we search for properties online.
MoveStreets is a prime example. It’s the latest innovation from Kamani, acting as a Tinder for real estate. Mobile technology allows searchers to swipe left on properties to take them out of the equation, while swiping right allows for near instant bookings to arrange a viewing.
We’re also seeing a huge rise in estate agents taking to Facebook, Instagram and Tik Tok to advertise properties. Over 4.48 billion people worldwide have at least one social media account, and the visual aspects of photos and videos are great for quickly and effectively marketing homes and apartments for sale.
Living Pictures
Augmented reality (AR) has been a recent big step in proptech. By taking a photo of the space they want to update, potential buyers can then add their own furniture and styles to the image to get a better idea of how the finished product will look.
3D cameras have also changed how we view properties online. By strategically taking pictures in certain spots, images can be “stitched” together, which lets potential buyers tour properties without them ever having to leave their seat.
The Future of Proptech
It can be hard for some home buyers to imagine how “blank slate” properties will look once they’ve bought and renovated them — even with the help of AR and 3D imagery. Virtual reality removes this issue from the equation by taking immersion to the next level.
While it isn’t widely available yet, TV shows in the UK and the USA have already highlighted how useful VR headsets will be going forward. Potential buyers can choose their own wall colours, furniture, bathroom suites, kitchens to see how their home will look upon completion, and then walk through the property as if it has already been finished.
We imagine it won’t be too long before all estate agents are showcasing properties in this way. It will certainly make the sales process much easier, as buyers will essentially sell the dream to themselves without the need for added encouragement.
The Importance of Proptech in Real Estate Sales
Strawberry Forge has worked with real estate agents and property investment companies since our inception, so we know how important proptech has been for closing sales. Deals are being finalised faster and with greater reach, which has helped the UK property market boom.
We’re always excited to see what the latest technological developments will bring to the sector, and of course, we love working with like-minded companies and individuals. Make sure to reach out and let us know if you think you’ve come across the next big thing in proptech.