Real Estate Digital Transformation Benefits and Drawbacks

Introduction

Digital transformation is the major shift to using digital technology in all company areas. Digital transformation is dramatically changing the entire spectrum of industries, including education and travel, entertainment, and numerous others. There will be 307.2 million Internet users in the USA in July 2022. This equates to a 91.8 percent percentage of users. There are 282.48 million smartphone Internet users within the USA.

The real estate industry is not an exception, mainly due to the increasing increase in mobile phones and Internet users. It is among the oldest businesses worldwide. However, with most users relying on the Internet for information, research information, or shopping, companies must consider the impact of this shift. This article offers comprehensive information about digital changes within the Real Estate Business.

6. Real Estate Digital Transformation Benefits and Drawbacks

The decision to proceed in the direction of digital transformation is a major one. But it is true that at the end of the day, modern technologies are bringing about a change across all industries, and all businesses need to adjust to these new developments to remain in the game.

Advantages of Real Estate Digital Transformation

Affordable: This kind of system helps reduce documentation and leg work and can also cut down on time, which is the best way to cut costs.

Automating processes: Implementing automated processes is key to reducing human error and enhancing efficiency.

Greater Data Security It is now possible to utilize a range of modern technology to improve security, for instance, Blockchain.

Improved Customer Experience The best method to draw customers is to provide them with higher quality and more customized service.

Rapider Response Time and Faster Close of Deals: The application of technology speeds the process for the real estate company and buyer.

Rapid Evaluation and Analysis It simplifies giving details following an evaluation and analysis.

Digital technology is making its influence visible on the residential real estate market, and when you consider the growing usage of mobile devices in many different things, it’s for businesses to take it on.

Potential Disadvantages of Real Estate Digital Transformation

Loss of Employment: Not everyone can adapt to new systems. Additionally, some jobs are redundant.

Slow technology adoption Employees are typically unable to fully embrace new systems that can impact the efficiency of a company.

The main point is that new technology is constantly evolving. Therefore, businesses that opt out of this will likely lose their competitive edge.

Digital Transformation in Real Estate: Acquaint Softtech Case Study

Acquaint Softtech Private Limited is all about making the latest technologies and creative minds accessible to all businesses and ensuring it does burn your pockets. We have successfully helped several real estate companies, and a few of our projects are listed here.

Great Colorado homes

We developed a simple website for Great Colorado Homes, one that is easy to navigate and easy for visitors to spot what they are looking for. We developed a feature-rich website using technologies like PHP & Laravel. Besides allowing users to browse and search for properties, we also incorporated several other features like a zip code map and school district map. Our client was highly impressed with the website, and it has helped his business too.

Up Homes

The developers at Acquaint Softtech spent a great deal of time on research and development to come up with a visually stunning website using Laravel with optimal features. We made an extra effort to ensure to make the process of finding the perfect home was as easy as possible. Our client was happy with the response from potential buyers and thanked us for our effort.

Raleigh Realty

Our creative team of professionals developed a stunning website using Laravel to ensure visitors can buy or sell real estate properties with ease. We also include several tools and resources to make the process simpler for them. We implemented several advanced technologies and our client was highly pleased with how it turned out.

The Future of the Real Estate Technology

The IT professionals are integrating digital technology across all sectors of a wide range of businesses. The aim of doing so is to raise the user experience level, reduce the efforts of the employees, and increase productivity and efficiency. Digital formalization is beneficial for a wide range of industries, including the real estate industry, and is the ideal method to increase profitability, serve the consumers better and help make smart decisions.

The field of technology is continuously evolving, with new technologies implemented every year. The changing consumer behavior suggests a greater dependence on technology in the real estate industry. It allows users to make smart propriety decisions with minimal face-to-face contact with an agency. Thus, digital transformation is beneficial not just for immediate gains but also as a part of your future business strategy.

Important industry statistics

There have been several surveys and research conducted by many firms online, which also suggest that the real estate industry can benefit from digital transformation and that it is the future.

• 58% of real estate companies have already implemented a digital marketing strategy.
• 95% of buyers in 2021 used the Internet to find a home in the USA.
• VR market is expected to generate over $2.6 billion by 2025.
• Real estate software market in 2018 was $2.3 Billion in USA and is expected to grow to 9.7% CAGR between 2021 and 2028.
• 72% of Realtors use Facebook, and 51.55% use LinkedIn
• 73% of homeowners are more likely to list their property with realtors using advanced technologies like videos to sell.
• 92% of homes sold in the USA in 2021, was with the help of real estate agents.
• Home buyers using print ads to find a house constitutes less than 1% of all home buyers in the USA.

Consider Acquaint Softtech, Your Trusted Partner in Real Estate Development

Technology and property go hand in hand, in fact there is a special term for this “Real Estate”. It works in your favor to hire the best technology firm to help you gain a competitive advantage. There is no better online solution-providing firm than Acquaint Softtech to design the digital transformation solution for your real estate firm and help you strengthen your foothold in the property market.

We offer a wide range of services like:

• Real Estate Website
• Software and Website
• Mobile application
• Real Estate CRM software
• Property rental management software
• Property management software
• Real Estate IDX technology integration
• MLS software development services
• Hoa software development services
• SEO
• Automation
• Virtual Reality & Augmented reality tools for 3D tours and more.
• Cloud integration
• Custom solutions with UI/UX design
• Testing
• Support and maintenance.

Let’s Create a Real Estate Platform for your Needs

Our developers are highly skilled and well-trained to incorporate advanced technologies in your solution; this can be VR, AR, AI, ML, cloud computing, etc. We have had the good fortune of working with various industries, including the real estate industry.

At Acquaint Softtech, we have expertise in a wide range of technologies and offer a wide range of services like mobile app and website development. Listed here are some of the services we offer:

• Custom booking list
• Product management & design
• Custom booking listing property management
• Platform multiple listing services
• Mobile app for real estate agents
• Recommendations listings engine
• AR/VR Virtual tour of the property
• Smart maps
• Push notifications
• Property cost calculator
• Automation of important tasks
• Chatbots
• Built-in CRM

Conclusion

There’s a noticeable change in consumer behaviour with an increase in the use of electronic devices for a broad variety of tasks. Businesses that aren’t able to adapt to this shift are more likely to fail, especially because of technological advancements such as AR/VR, automation cloud computing, and so on. Employ Acquiant Softtech for your Real Estate Development company who is able to lead your real estate business throughout the journey through the process of digital transformation.