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Real Estate Industry Outlook

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.

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On the other hand, companies can broaden their portfolio with ease and showcase a wide range of properties as they are not tethered to a physical location anymore. Agents can conduct open houses for properties in any part of the world. Also, considering more than 60% of online traffic comes from mobile devices, companies can leverage this by getting the right apps built to target customers. Peter Williams, the CEO of Deloitte Digital once said, ‘Agents will not be replaced by technology… they will be replaced by agents with technology’.

ITWIX’s team of technology consultants and highly-experienced product development professionals have experience in has architected comprehensive solutions and built several successful websites and mobile applications in the real estate space including-

  • Multiple Listing Service Platform

  • Real Estate Marketplace platform with advanced comparison features

  • Custom-built comprehensive enterprise solutions

  • Cloud-based Real-Estate CRM