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Real Estate Technology: Smatphone Apps, 3D Virtual Tours Provide Instant Homebuyer Demands

Posted by Staff Reporter on Mar 23, 2016 09:43 AM EDT
Wells Fargo Holds Homebuyers Assistance Program more big
Alvaro Bolanos (L) and Annika Ruiz speak with a Wells Fargo home mortgage consultant as the potential homeowners put in their application for a down payment assistant grant at the Miami Airport Convention Center on June 1, 2012 in Miami, Florida. The initiative by Wells Fargo, named the ‘NeighborhoodLIFT’ program gives qualified prospective homebuyers with down payment assistance grants up to $15,000; part of $9 million commitment in down payment assistance and homebuyer support programs in 2012 and a five year $30 million home mortgage purchase lending pledge. (Photo : Joe Raedle/Getty Images)

Real estate technology has not been widely associated with virtual reality or smartphone applications. However, like most industries, real estate agencies have realized that if they want to continue business, they need to embrace modern technology.

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Gone are the days of long weekends touring homes just to get an idea of the market. Recently, there are sites like Zillow, which come with a database of listings complete with pictures and pricing history. Casey Everts, digital strategist at Revolution Realty in Cedar Rapids has stated that many people blame technology for destroying jobs, but a lot of times it only transforms an industry.

Real estate technology site Zillow had been a solid starting point, according to Everts. However, the strategist was not convinced that it is what sells a client on a home. According to Fortune, it was instead a set of online tools as well as guidance from their respective agents. 

Brian Hoel, a Skogman, stated that in the old days he was used to presenting a stack of MLS sheets to sellers and go through the details. They would eventually go glossy eyed in seconds and just complain of information overload. The realtor had since then used technical tools to help him sell homes.

Skogman has used smartphone applications that allow users to view listings anywhere, anytime. He said that people want information instantly and apps are attempts at getting people the details they need as quickly as possible.

Real estate technology has upgraded services to include tools like smartphone apps, 3D virtual and video touring According to Forbes, when it comes to coordinating with sellers, Hoel has used an Excel program that transforms data into charts to make market trends easier to comprehend. He has also used video messaging to communicate with his clients instead of standard emails.

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