fbpx

Impact of Technology on Real Estate: The How and Why

If you are interested in buying a house now or in the future, then you should be aware of all the factors that are currently at play. One of the foremost factors is technology. Technology impacts all aspects of our lives and real estate is not left out. Understanding the role technology has to play in depreciating or appreciating your real estate asset, within a 5 to 10 years period will be crucial to your real estate plan.

There is a great good to come, if we become cognisant of the huge technological forces at work. “A computer can beat any human chess player, but cannot beat a human working in conjunction with another computer”. Hence, if you are looking to buy a house, the new technological developments in the real estate industry should not be ignored. The ideal focal point when evaluating real estate opportunities is still to maximize returns including interest, dividends, and capital gains.

 

How

Traditionally, buying and selling properties once involved a great deal of physical movement. Whereby property agents in Kenya showed their clients around town, looking at various properties. This was a time-consuming process for all parties involved. Today, buying and selling real estate has become far less arduous. Technology now makes it easy for everyone to buy and sell properties in every corner of the world pretty easily.

One way that technology is altering the real estate landscape is the prevalence of smart home technology. This is a broad term that describes essentially any form of home automation. Smart home technologies include home security cameras, smart thermostats, smart locks, etc.  As technology continues to evolve, the demand for smart homes is only going to rise owing to the conveniences and security it offers. And as people spend more time in their homes, there is now an emphasis on having such amenities that make home living and remote work easier.

In the past decade, the construction industry has seen many changes due to technology; from the materials to methods used for building new properties. Construction technologies produce smarter and more durable structures by designing better houses from scratch.  Cloud-based technology allows our customers to remain updated on the progress of our building projects every step of the way using 3D models and other tools. And because all models are tested for accuracy before construction work begins, less time and resources are wasted on poorly built structures. At SAIF properties, we are taking advantage of technology to build sterling and smart properties. Talk to us

 

impact-estate-and-technology

 

Some statistics to show the impact of tech on real estate

  • Nearly 43% of prospective homebuyers start the process by looking online
  • Nearly 50% of prospective homeowners use a website to search online
  • A notable percentage of property agents in Kenya use digital marketing to advertise
  • Buying and selling of property in remote locations is now less problematic
  • Additionally, 81% of people who currently have smart home devices said they are more likely to buy a home with similar technology

 

Why

Technology allows clients to significantly narrow their searches, helping them get their most important criteria. Information such as 3D virtual tours, and videos, are readily available, making it seem as though you are walking through the house in person. Though there is concern about technology taking out the human element, experts have dispelled this concern saying real estate technology can hardly replace a real estate agent.

Also, real estate investing is taking a cue from the popularity of crowdsourcing. Making it a mission to let anyone invest in high-quality real estate by pooling their resources online. Platforms are becoming available to complete multiparty real estate transactions, save time, and stay organized. This type of technology is not only improving efficiency but also changing how agents respond to their clients and providing clients with dynamic home options.

Technological advances have a positive influence in improving the way of living of people and have also considerably affected the housing sector. Every step of the real estate process is now touched by technology. From the beginning of the home search to closing deals, every transaction can be done with the click of a button.

 

Whether you’re comfortable adapting or not, technology is constantly advancing, forcing us all to conform, the key is to not fall behind. Technology has had far-reaching effects on how the real estate industry operates. As it continues to develop, buyers and sellers will find the home buying/ investment process quicker and simpler to handle.  Visit SAIF website to get all updated information on real estate and browse through our modern properties available for sale.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Exploit this poignant development in Kileleshwa

Request A Callback

How Can We Help You?

Book A Unit