Saturday , May 8 2021

Real estate sector prepared for 2019 technological breaks

Real Estate Agent Shawn Zigelstein recalls a few years ago when the printer, scanner and fax machine were the most important trading tools.

Now, these gadgets are almost obsolete.

"I do not know the last fiction I sent to you with honest," Zigelstein laughs at Royal LePage mediation in Richmond Hill, Ont.

"Oh, we had disbelief. Now, our customers can open their phones, some buttons and [offer] Papers are signed. "

Zigelstein has said that the adoption of real estate technology has grown considerably in recent years, and thinks that this trend is becoming more and more.

Those who do not adapt to this change would drastically reduce their business, because it is not enough to adjust.-Shawn Zigelstein, real estate agent

"The agents that do not adapt to this change will see their businesses diminish significantly, because they do not fit enough," he said.

From mobile phone applications such as Loom, customers can remotely share their television and slideshow slides, which have digital signature to check their phones and tablets, make it possible for technology to become a business reality.

Historically, the "laggard" industry

Historically, the real estate industry has been "laggard" when it comes to technology, says Frank Magliocco, a partner in the housing market in PwC Canada.

"But I think now that you see that the ramp is quite significant, that technology is becoming increasingly common," he said.

"It will be important for the future to be in the market and be competitive. When you demonstrate these technologies, you will see more and more adoptions."

According to PwC, proptech, defined as technology in the real estate market, was a Canadian and US 4.6 billion dollar company in 2016. Last year, it had an increase of 7.3 million dollars, which has also increased interest and opportunity space.

Magliocco says proptech, when he called his cousin to finance the fintech of the banking industry, could refer to intelligent buildings acquired by the list of online websites so that the data for automating the heating and lighting of 3D printing houses are large.

"Think of the banking industry years ago, before fintech … he entered the person who had to make the bank and the entire business model has changed, now you can check and transfer money and you can do everything on your device," he said.

"The real estate property used for each operation must be cumbersome for many lawyers involved and surveyors to check the space and space, which is no longer necessary".

Changing Customer Expectations

Stephen Jagger, Director of IMRE, is a company that manages artificial intelligence, depending on the technology used in real estate transactions.

The IMB chatbot can respond to future customer base questions over the next 24 hours on behalf of a realtor through text and social networks. Uses machine learning to answer questions about the list, such as price, number of rooms and neighborhood neighborhoods. However, bot does not respond to subjective questions for real-world comparisons. .

Jagger does not replace this type of technology as a real estate agent, like good technologies, works better.

"[Realtors know] In five minutes you have to answer or you lose the lead, "said Jagger, whose company is based in Vancouver." Lenders can focus on top-level tasks to show a home, responding to random questions all the time. "

However, Toronto realtor Cam Woolfrey says technology will not be obsolete by the real estate industry.

He said he can "experience" with a real experience.

"Customers see a dollar value in that. If you have knowledge and experience, the customer will see it as an impeccable".

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