What are the benefits of IT for the real estate market? Construction is a complex business that cannot be done without digital solutions. IT technologies help to simplify work processes, reduce costs, and raise the business above its competitors. Another important plus is that they reduce the likelihood of errors that are made due to human error.

However, not all companies can create IT solutions for themselves. The reasons are different: no IT department inside, lack of competence, no accurate understanding of the business system, etc. The solution is “seamless systems” that give access to all the necessary tools.

Today, more than 500 IT solutions are on the market for various tasks, from design to commissioning apartments in Gardenia Bay at Yas Island. Digital startups want to either help specialists by simplifying their work or replace these specialists with an algorithm.

Inhibiting factors

There are almost no barriers to IT in the market right now. On the contrary, businesses try to get ahead of the competition and digitalize as quickly as possible. Of course, some still build Excel spreadsheets, but they must reorganize sooner or later.

The main problem is the lack of competencies within the company, and it is important to work with integrators regularly. Employees also perceive CRM systems as additional points of control from the management and, therefore, sabotage technology implementation.

Development prospects

There are many development opportunities thanks to the departure of foreign companies and state support in the IT sphere. All companies are integrating IT, and platforms are vying for their attention by offering cool tools. There is no obvious leader in the market, but many strong players exist. One trend is no-code platforms that help businesses implement IT solutions without using code.

Digitalization is not just a trend but a necessity. The sooner you learn it, the momentarily you can start optimizing profits.

Technology has made many things easier, and home buyers and sellers now have more options. Access to many properties without calling an agent or visiting a development office has changed how people purchase real estate. It has sped up the search and buying processes.

Whether you are trying to buy or sell real estate, you need to be aware of the process and the current situation. Here are four ways technology is affecting real estate today.

Simplifying the procedure

Anyone who has ever bought real estate knows that closing can be time-consuming, inefficient, and annoying. However, the entire process, right down to electronic signatures, can be expedited thanks to data management tools.

Thanks to technological advances, what used to take months can now be accomplished in a matter of days. Lawyers and financial institutions can instantly transfer relevant evidence to land registries, allowing them to carry out all procedures digitally.

Virtual Reality Technology

Virtual Reality (VR) is becoming popular among consumers and businesses. With images and 360-degree videos, advanced builders now offer 3D virtual real estate tours.

Although still relatively new to the real estate industry, virtual reality has been created specifically for the real estate industry. Unlike anything else, virtual reality allows users to digitally navigate through floors. These immersive, three-dimensional tours will significantly change the lead-up period for new homes, allowing potential buyers to see what the rooms look like before construction begins.