The impact of technology on real estate
PUBLISHED 17 AUG 2016


Since the arrival of smart phones, lower cost and faster bandwidth, the internet is no longer a business tool - it's a utility to which every homeowner has easy and ready access. You can communicate with friends and family abroad or around the corner, you can do research, and you can buy things - anything from groceries to movies, from books to computers. But can you use the Internet to buy property?

Whereas, in the past, clients took the first step into the real estate industry by contacting an estate agent, they now start by browsing various websites to see what is available, whether it is to purchase or for selling, to look at what properties are selling for in the area.

"Both buyers and sellers are also far more educated. They have the ability to research the areas in which they are interested and they have all the information they need about transfer duties, agents' commissions and the process of buying a property at their fingertips.

 Database system

some of these include a database system, which assists agents from the capturing of client's details, to the registration process. This system ensures clients receive optimal service as each and every interaction, communication, outcome of a show house etc., is recorded. Furthermore, each property is automatically published to a wide variety of websites.

However, buying a home is a truly emotional experience, and emotion is something that technology can't sell. While a potential buyer may have seen a property online, it would be unwise for him to buy it without seeing it in person. A home is one of the biggest investments a person will ever make, and it has to be done with every piece of knowledge readily available - including the atmosphere and feeling of the home, which are things that cannot be communicated via a virtual environment.

The sale of a fixed property cannot be concluded without human involvement. We still need real signatures, and buyers and sellers both need to know that their interests are being looked after, and that they're getting the best possible deal. It is the kind of knowledge and experience that no website can offer, and it is key to the successful conclusion of a sale.