The time is right to go digital – Digitalization of property sale
has been a blessing on consumers & here is how the
transformation has helped millions across the globe.
The process of purchasing a property has undergone a fundamental shift in the last two decades. The real estate sector has, leap-frogged in numerous ways. It has transitioned from tedious, time consuming, exhaustively lengthy to more stream-lined and easy-for-all processes.
Ms. Kamakshi Mantri, Head of Marketing , Mantri Developers PVT LTD says Gone are the days, when the fate of an honest homebuyer lay at the mercy of brokers and chains of middlemen, who were sole
custodians of transactional details. Due to digitalization, the real estate sector has gotten rid of many such vices. Today, first-time buyers can make the arduous purchase journey of their dream homes from the comfort of their homes. One of the boons of searching a home online is that, it gives
customers access to the world. That is the magic of digitalization.
Real estate industry, including many other businesses, has started adopting digital technology for their
operational activities. People are moving from conventional method towards digital tools for their convenience. Therefore, the digital transformation of real estate is accelerating at a rapid pace.
Let us have a look at a few ways in which technology is transforming the real estate industry:
Search and Buy: Nowadays, people have become smart enough to research about their buys online before showing interest, and real estate is no different. The search for a good investment begins online with research to buy, sell or rent properties. This gets to make the process seamless. Likes, shares,
and comments help us analyse and gain insights of which content clients like and furthermore what they are looking for. Interactive Modelling
Building Information Modelling (BIM) is undoubtedly transforming how real estate projects are done. It helps you complete information on the project from design to optimization by managing the lifecycle of any building with the help of digital technology. BIM is an intelligent 3D model-based software that provides construction, architecture, and engineering professionals the insights and tools to plan,
design, construct and manage buildings. Also, it helps us create the walkthrough videos for our
customers, for them to understand what an under-construction property will look like post completion. This same software also helps customers visualise their interiors in real time. Virtual
Reality and Augmented Reality: The two immersive technologies namely Augmented Reality (AR) and Virtual Reality (VR), are revolutionizing real estate sector by providing convenience and unmatched experiences. It helps you to virtually take a tour to the property without physically being there. 3D renderings provide a 360-degree tour of the property from customer’s phone anytime, anywhere to experience the final product. This allows you to share the content with your near and dear ones, while
taking the important decision of buying the home of your dreams. Nothing is left to imagination as
everything is documented.
Video Conferencing: Specialized sales teams are more than happy to give you a digital presentation
and conduct video conferencing to talk to you face to face without you having to leave your house
and showcase a walkthrough of the property selected. This helps establish a personal connection with the consumer. As understood that home buying is an emotional decision.
Digital Documentation & Payments Gone are the days, when you needed to prepare cheques, arrange for cash and go through tiresome processes to secure bank loans. Today, Fund Transfers, paper work payments and all miss expenses can happen through secured and trusted payment gateways & NEFT online transfers, which creates an automatic history & proof of the transaction. Banks have also innovated, and today loan process is so simplified where it gives you an entire break up of your eligibility , your EMIs, upcoming payment dates and also lets your compare rate of interest digitally.
Also, the manual documentation resulted in human-errors. However, today, automated software and tools provide digital buying or lease agreements that can be validated by local laws with government
authorities & real estate authorities like RERA in a fraction of time.
At Mantri, They have achieved phenomenal results with their online sale and witnessed increased sales
during the lock down period. Their focus was on making these features available for their customers and
making their purchase experience seamless, even without site visits.
Ms. Kamakshi Mantri – Head of Marketing Mantri Developers PVT LTD
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