As we all adjust to new ways of living with Covid-19, many people might wonder how the property market is still thriving. Estate agents, developers and potential investors have been working hard to keep investments going, but realise that it would not have been possible without the use of technology. Property businesses have used the latest technology to meet with clients, showcase development plans and secure deals from across the globe which has allowed the property market to flourish.
Technology has transformed how the property market operates, and those businesses who are utilising this trend will remain ahead of their competitors and meet their clients’ demands. Advances in tech gadgets and software have changed the way people in this sector think and interact with one another. Whether the pandemic forced the decision to adopt technological advances or not, it’s undeniable that it has helped with current travel restrictions and isolation periods when investing in property.
Read on to find out how this lucrative market is using technology to its advantage in 2020 and beyond.
Drones
This type of technology does not only provide a clear image of the area in which a property will sit and the surrounding rural or cityscape, but it can also aid construction work, helping developers make some critical decisions. Once property companies have drone footage, they can use it for advertising properties and providing visuals to future investors. By adding this digital approach and technology to their market strategy, it is bringing the property market up to date with a new era. Drones give a remarkable insight into off-plan properties, enticing viewers to secure investments. One property company that has successfully implemented this technology is UK based RWinvest, offering exclusive drone footage to their clients and potential investors who are unable to travel to the site.
Computer Generated Imagery
Also known as CGI, this type of software is used for virtual viewings, again in off-plan properties to showcase what a building may look like upon completion. Computer-generated imagery offers a more in-depth understanding as opposed to just looking at blueprints and visualising the end result in your head. It focuses on the inside of the building and can give a great indication of what the finishing touches will be. Again, much like drones, this technology not only benefits clients but developers and estate agents too as they can utilise it for promotional purposes or to speed up the property investment process.
Virtual Reality
Lastly, this real-time technology can enhance CGI and take virtual viewings to the next level. By using virtual reality, it has given those investors overseas, the peace of mind that they need when it comes to investing in property without being able to travel to the property themselves. Files can be instantly transferred to people, viewed at any time, and affordable virtual reality headsets can be purchased for the full experience. The finance, healthcare and retail sectors have all adopted this new technology to revitalise their business strategies, and it was only a matter of time before the property market followed. Viewers can immerse themselves in a whole new virtual world and witness what their investment looks like.
