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Advancements in technology are paving the way for exciting tools that could shape the Philippine real estate industry in the years to come
The unstoppable progress of technology has a massive effect on how business is carried out, and real estate is one of the industries that has reaped many of its rewards. Many new and exciting advancements in technology are being developed to make property selling and buying more convenient. These technologies narrow the gap between real estate sellers and buyers.
Lamudi has put together a list of the technologies currently being used, and which are expected to make an impact on Philippine real estate in the years to come.
1. Smart Online Listing Platforms
We have seen the proliferation of online real estate platforms over the last few years, most of which follow generic designs and offer good content. This is a boon to consumers, who can now do their initial selection of properties for rent or for sale without having to leave the house. All they have to do is visit these online real estate websites, where thousands of properties for sale and for rent are literally right at their fingertips.
However, what set the smart platforms apart from their competitors are features such as completeness of inventory, easy-to-use features, and overall performance. These platforms show consumers the available properties’ details, such as location, property owner info, pictures, and price. Advance search filters also allow users to view only the type of home they want to see, narrowing them down to specific locations. With a platform like Lamudi, buyers can also compare listings side by side to help them narrow down the properties that they’d like to view in person. Lamudi also offers add-on features such as loan calculators to make shopping for homes easier.
2. Mobile-friendly Websites and Apps
Since today’s consumers live a fast paced life and often prefer smartphones to desktops, mobile apps and responsive websites are key. Consumers can now browse properties using virtually any type of device. In addition, numerous real estate apps have been launched that make searching for properties faster for buyers, and uploading listings more convenient for real estate brokers, agents, and owners.
3. Drones
Drones are now being used in real estate photography. Drone photography provides aerial shots of properties that look good from an elevated point of view. This technique also captures the neighborhood where the property is located to increase its appeal. Drones are not only easy to handle, but they are also a lot cheaper than renting a helicopter to give you the best aerial shots.
4. Augmented Reality
With the use of a smart device, apps integrated with augmented reality combine the physical world seen through its camera with a digital overlay, which could contain information about what the camera sees. In real estate, it could display a property’s details, and could also show the interested buyer more information about the location, which can save both the buyer and the real estate agent time and money.
5. Virtual Reality Tours
Virtual reality (VR) is currently all the rage in video games, and the technology has also found its way to the real estate industry. A special tool is used to capture 360-degree panoramic images of a property, which are then stitched together to create a “virtual tour.” This allows homebuyers to “walk through” a property to check it out as though they are actually inside it, clicking at certain spots on the images to view certain details up close.
On September 3 and 4, 2016, property buyers and sellers can experience firsthand the use of VR in real estate by heading to the Bonifacio High Street Activity Center in Taguig, where the first-ever Lamudi Philippines VR Expo will be held. Guests will experience how VR is making real estate more exciting as they use VR goggles and touch-screen monitors to explore various properties built by some of the country’s top developers.
Main image via Shutterstock
