Technology has taken over the
world. With every passing day, humankind is progressing and making a way
forward. Continuous progress in technology has not only changed our lifestyle
but the face of many businesses. The real estate sector has also changed
diversely due to technology. The advent of technology has impacted real estate
development and marketing. The evolution of technology in the real estate
sector is divided into three phases. The first phase started in the 20th
century with the invention of the computer. With the introduction of the
internet, the real
estate marketing firms started digitalizing the services which was the
second phase of the technology evolution. It motivated the real estate sector
and lasted from 2000 to 2010. Currently, we are in the third phase of
evolution. This phase is using augmented reality, artificial intelligence, and
the concept of virtual reality in the real estate sector. The real
estate organizations and real estate marketing firms highly believe that
technology has evolved the real estate sector and they should get more
benefits from technology. Right now technology is being used in every
dimension. Here is how technology has impacted the real estate sector in
Pakistan.
Role of Technology in planning and
development
Planning is the first step to develop any
real estate project. The developers have equipped their organizations with the
latest technology and modern machinery so that they can provide a safe and
secure project. The latest methods and studies are used to minimize the risks
and avoid errors. The modern equipment and new research have helped engineers
to plan and develop real estate projects with efficiency. Any error in design
or architecture is removed in the initial stage due to technological
development and advancement. Park View City Lahore, NOC-approved project
is an example of technology-driven planning and development.
Role of technology in constructing
infrastructure
New real estate projects are exemplary.
They are constructed using the latest machinery which helps to complete
construction in less time. The infrastructure has also evolved and includes
technological advancements. The construction of roads or streets is different
and less time-consuming. It is due to the advent of technology that an
underground network of electricity, internet, water, gas, and sewerage or
drainage is laid before the construction of roads or streets. The architecture
and designs of the buildings and houses have improved due to technology. The
discovery of new materials and techniques has helped to get a better
lifestyle.
Role of technology in marketing real
estate
With the arrival of the internet, many real
estate marketing firms started shifting the services to online platforms.
Currently, most of the marketing in the real estate sector is done
through social media platforms. News regarding new housing projects is
published on digital platforms including social media. News includes
announcements of NOC or new development. It could be an announcement on a new
payment plan or the construction of a new block. For example, Nova
City Islamabad payment plan was updated a few days back. Many real
estate agencies/ firms/ marketing companies/ realtors are working online. These
organizations have created a wide network over the internet and are using it
for lucrative purposes. The projects are advertised and marketed over the
internet. Customer services are provided over the internet to confirm the deal.
Moreover, it has become a platform to connect buyers and sellers.
Role of technology in transactions
Many real estate deals and transactions
are happening online. E-commerce is helping the real estate sector to
grow. According to real estate marketing firms, technology has helped to
deal with transparency. It has helped to erase human errors. Financial
transactions have become easier. It helps to save time and effort, also it has
reduced malpractices. Many real estate housing projects now offer an option to
pay money through online paychecks. This has been convenient for many customers
and it is safe and secure as well.
Role of technology in buying, selling, and
renting
With digitization, buyers, sellers, and
renters are using online platforms to get their requirements fulfilled.
Technology has allowed investors to develop applications that connect everyone.
The advertisement has become easier and everyone can get whatever they want. If
a person wants to get a loan to buy the property or wants to sell the property,
everything can be done with just a few clicks.
Technology
has been used to evaluate property, real estate management, and regulatory
affairs. It has helped people to learn about the different aspects of numerous
topics. People can sit back in their homes and can do their research before
stepping out in the real estate sector. Real estate marketing firms
can no longer use innocent and naïve people to make money. Click here to check
the updated Nova City Islamabad payment plan and to know more about the Park
View City Lahore NOC-approved project.
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