In today’s world, owing to the vast advancement in connectivity, computing devices- especially the handheld, has become ubiquitous. Technology today is unequivocally intertwined with the daily lives, interactions and activities of people. Real estate, being the mammoth industry it is, needs to be constantly adapting to the growing advancements in technology to achieve top-line and bottom-line growth and curb overheads. Information technology has penetrated most processes and functions of the Real estate business- be it Prospecting, Property listing, Advertising and Marketing, Finance facilitation etc. One of the most successful examples a Real Estate- technology amalgam is Zillow. Over half a billion homes have been viewed on the Zillow app making it one of the most successful apps in this field.
The advent of mobility today allows prospective buyers to virtually ‘visit’ properties without being physically present, compare between properties, view ownership history of the property, calculate mortgages, get information on amenities in and around the property. Essentially, the entire process of home-buying/renting can now be done with a few clicks and much higher efficiency. Technology empowers people with critical information in terms of buying, renting, selling, financing etc. that helps them make informed decisions.