- December 12, 2023
- Reading time about 6 minutes
The disruption of technological advances has impacted the real estate sector like any other industries transforming the way things are done. Moving towards the switch from manual processes to a completely digital landscape, real estate organizations are still adjusting to meet the increasing demand for digital content, virtual meetings, and online transactions.
Though we are witnessing the shift from traditional to online home buying and selling experience, there is still a huge gap due to a lack of instantaneousness. The market of real estate undoubtedly carries a huge potential for further growth and this growth will be hugely driven by ‘on-the-go agents’- something that we will discuss today in this article. We will learn the benefits of investing in a Real Estate Offers Management Platform and how agents can redefine their services for a seamless digital home buying and selling experience.
Scope of On-Demand in Real Estate
The real estate market has been quite uncertain for a few months and experts even predicted a decrease in residential sales transactions with the impact of lockdown restrictions. However, the introduction of the Stamp Duty holiday and other financial aid by the government has helped in achieving the busiest phase of the housing boom. The sales transaction volumes even exceeded pre-pandemic sales with records of a higher number of UK residential transactions in March 2021.
The rising demand for 24/7 access to real estate services has put pressure on agents to be available for clients all the time- whether it’s for submitting offers, conducting virtual viewings, browsing property listings, filing documents, or making final payments. Customers never want to feel alone or unsupported throughout their home buying or selling experience and they need to trust that their data are handled securely.
Does that mean real estate agents need to work day and night to fulfill these expectations? Not, at all. There are reliable Real Estate Auction Software with automated tools that can take care of all the things in one go. For virtual viewings, sales progression tools, e-signing, self-service portals, and lots more, agents can adopt such tools to simplify all the repetitive, administrative, and manual work in the blink of an eye.
However, it is important to note that virtual systems cannot take away the jobs of real estate anytime soon. This is because clients will still rely on agents as their role will play an essential part in real estate transactions. The evolution of new tools and technologies has contributed towards freeing up time for the agents enabling them to focus on human support at a priority level where automation plays its part in lifting off the heavy work of processing customer data and legal documents for faster real estate transactions.
Experts believe that the need for instant-ness will result from the entry of a millennial group of stakeholders playing a huge part in the real estate sector today. Agents must be able to work on the move and have processes in place to achieve that.
Impact of On-Demand in the Real Estate Industry
As customers today want everything instantly at their fingertips, agents must adopt an on-demand approach to meet these evolving needs allowing them to access property listings, agents, and buyers anytime of the day. This doesn’t mean robots must take the place of real estate agencies but one thing is clear- the future of real estate agents will change significantly in the coming years.
There will be a decrease in the demand for large property premises due to higher costs in rent, bills, and maintenance. Agencies that can gain a competitive edge will be the ones that have understood the significance of the shift to the on-to-go agent and can advertise themselves and their properties through digital on-demand services.
Here are some of the main features of real estate solutions aligned with the on-demand model-
– With the motive to make access to the properties quicker and easier, agents will now compete to gain more clients rather than buyers and sellers who struggle to hunt for the agents.
– On-demand real estate solutions will facilitate direct communication between the two sides without the involvement of a third party or mediator through chatbots helping buyers and sellers find their respective searches easily.
– With the on-demand online process, all the parties will have access to one another anytime from anywhere, which will make the whole home buying and selling process effortless and quick.
– Buyers don’t have to bear the expenses of hiring agent to agent to negotiate the commission percentage while using on-demand services, saving on extra costs.
– On-demand helps in digitizing the whole offer submission and acceptance process where sellers can upload property listings and buyers can access them instantly without any wait time.
– Whether it’s about placing live bids, booking property viewings, processing legal documents or digitally signing contracts, all the buyers’ and sellers’ needs will be fulfilled in one go with the help of digitized on-demand real estate solutions.
– Real estate solutions integrated with advanced technologies like AR can help in promoting remote property visits which help buyers from different locations to access the property at any moment without physical visit.
As we can see the real estate market will not slow down anytime soon, which means meeting evolving needs with cutting-edge technologies and digitized real estate platforms is the key. Your real estate business success depends on how well you can facilitate the process faster and move towards transparent and trustworthy transactions to simplify the whole process of the home buying and selling experience.
If you want to help navigate the new digital real estate market & facilitate all your buyers and sellers’ needs seamlessly, BidHom has a bunch of experts who can reshape the future of your business with a faster home buying and selling process. We have a perfect solution for sellers or agents who want to encourage buyers to submit their best offers through Highest Best Offer Listing Management for an efficient & quick property sales process. Connect with our experts today!