Top Digital Transformation Trends Disrupting Real Estate Industry in the UK

History paves its way for the future, the future of technology, and the way to overcome the challenges that have crippled the industries for decades. Even the industries as big as real estate that have the power to bring down the economy to its knees are challenged by the modern needs and the modern times’ demand for a digital transformation. Disruptive technology and emerging technology trends can change the way you see the industries and the opportunities and challenges offered.

People are looking for ways to get a more immersive experience, they are looking for personalization, and it is only possible through technology. Technology makes things more cost-effective; however, you must choose what is right for your business. Below are mentioned are the top digital trends that you can use for real estate digital transformation and stay unaffected by the change, and win over the competition.

Carbon footprint reduction

The world is moving towards reducing the carbon footprint. People are waiting for the broader policies that can be implemented to reduce the impact of climate change. The new administration, technologies, and reduction in commercial properties can reduce carbon footprint. Technology can contribute to making the private and public sectors reduce energy wastage and improve the way you use the resources.

Safer Buildings

Just like any other industry, real estate too will be ladened with post-covid trends. Safer buildings are one of them, it is essential to make the building safer for the occupants, and there are a variety of means to do it, such as special HEPA filter UV lights, no-contact entry, automated sanitization measures all across, and so much more.

Smart Access

Smart access control using IoT technology can make the building more efficient. Internet of things allows you to control the inanimate things around you and give you an immersive experience. It unlocks many opportunities to give a better experience to your users.

Blockchain technology

Blockchain is more than just cryptocurrency, and it has proven its worth through fintech. You can collect data at multiple levels and keep it safe. You can use the data to understand the need of the market and detect trends, and more.

Automated Valuation Model

They are also known as AVMs, which are becoming very common nowadays. It allows your real-estate agents to evaluate the property bonus and helps them provide a better experience to the people looking out for the properties. It also improves the modeling pricing on the listing and buying side.

AI-driven marketing and data gathering

Every industry is becoming data-driven, and the real estate industry is not at all falling back. The future of real estate is marketing and gathering useful information through artificial technology.

It is essential that you maintain the data quality and include various factors in the collection of data at multiple levels. It verifies the quality of the solution that you would be able to provide. It gives you the reach and efficiency to provide a personalized experience and improve your marketing strategies better. It is one of the best real estate transformation trend you can use in 2021.

Machine Learning

Talking of data, machine learning can work in a combination of AI. Once you have gained useful data, you can use machine learning to automate the segregation and analysis process. Manually collecting and calculating vast data is not just laborious but also is prone to errors. The process would help you feed big data into ML algorithms and provide investors more reliable estimate of the ROI.

Video Tours

Technologies such as AR and VR are not just changing the course of the gaming industry but also providing immersive video tours to people. The technology can help you make a huge difference in the buyer experience by allowing people to use AR/VR technology to check out the property remotely. This trend is going to pick up more speed as Covid 19 has made people more adaptive to the newer trends. Great protection and speedy transactions can help you widely to a great extent to improve the way your business work.

Live Videos

Prominent and disruptive, this trend is a good way to utilize people’s acceptance of the video content. It can be used in marketing, leasing, sales, asset management, touring, and so much more. You can even use it as a communication tool as people are working from home, and the buyers are feeling unsafe to come out of their homes due to covid.

iBuyer Companies

Probably this is the first time you hear about it, but it has been in the market for quite some time. It is a burgeoning trend and gaining a lot of popularity in every part of the work. It would help you in transforming the entire process of listing and buying the property. It brings more transparency in the communication and helps them in gaining more insight into the property.

Bridge Solutions for Sellers

As a business owner, not only are you responsible for the user experience, but also the seller experience? The emergence of bridge solutions for sellers is one that you need; it allows the sellers to look out for the next home before they sell their current property. It has been a challenge for people for a long time and can be a good addition to your current business.

Rental management software

Not only the transformation of the buyer and seller journey is essential but also rental. Rental management software can provide people with everything that is needed to manage multiple properties, receive payments online, manage maintenance, and much more.

Contact-free experience

There is a sharp shift in consumer behavior. Technology exposure is responsible to some extent. People are seeking solutions that can limit their human interactions. Technology that helps in providing contact-free experiences such as keyless systems, dishwashers, refrigerators, and more can help.

Text-based engagement

The emergence of AI can help you in transforming the way you handle your customer queries. Integrating AI-enabled chatbots can improve the customer experience. It enables you to handle a high volume of queries and shortens your response time.

Property compare portals

Creating web applications or features that allow people to compare various properties on various factors can improve the conversion on your site. People take time to analyze the pros and cons of the property, and in some cases, you lose them to some other seller. While there are many apps available, adding a feature such as this is a great addition.

Wrapping Up

These were some useful digital transformation trends you can use to improve your customer and seller experience with your business. It also helps you take off a lot of work from your shoulders and would give you time to prepare your business for the new emerging trends.

Choose the trends relevant to your business, and tell us which ones you helped transform the course of your business completely.