Emerging Technology Trends Used in the Property Market

Digital trends have accelerated throughout the last year following the necessary adaptations businesses needed to make to survive. The property market, in particular, felt enormous amounts of pressure to succeed as it was faced with economic problems and tremendous levels of uncertainty. 

Now more than ever, technology has transformed how we live our lives and how various markets will operate moving forward. Thankfully, the property market took advantage of emerging technology and used it to implement new strategies to keep up with client demand in an effort to stay afloat. 

If you are interested in finding out more about how the property market has been leveraging technology to keep up with demand and adhere to the new Covid-19 restrictions, then we have included a few examples below.

Video technology

Staying connected during the last year has been difficult. Still, with the use of video technology, companies have been able to keep employees working while they continue to improve the customer experience and meet the business’s demands. Video conferencing has been hugely beneficial to the property market, allowing teams to collaborate on projects and meet their clients’ needs. Virtual connections and video can help keep property companies engaged with their colleagues, whether during meetings or social events. This has helped during long periods of isolation where we would otherwise be cut-off from one another. 

Video technology has helped businesses work remotely and maintained the level of service offered to clients and potential investors. While face-to-face communications and travel restrictions remain in place, property companies can set up virtual meetings to discuss new business and put current investors minds at ease. Adopting these new ways of working will increase the efficiency of teams throughout the property industry and keep people connected during times of isolation. 

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Drone technology

There are many ways real estate agents can sell properties, and drone footage is just one of them. Drone technology provides businesses with an innovative way to showcase properties and the surrounding area. By capturing drone footage, the property market can produce unique content for social advertising campaigns or for other promotional purposes. Much like virtual tours that have been utilised during the pandemic, drone recordings can provide progress updates to current investors. One UK property investment company that has featured drone footage successfully in its marketing campaigns is RWinvest. The company has also used exclusive drone footage to keep its current investors updated on their investments. 

Blockchain Technology

While some may argue that the emergence of cryptocurrency has resulted in fewer people investing in property, blockchain technology can benefit the market. Property companies have used blockchain platforms such as Ethereum across the globe for their smart contract capabilities. These contracts are written as programming code to be safely transferred via a stable internet connection and limits the need for legibly printed documents. This technology provides businesses with the ability to work with anyone, anywhere, and at any time. It also eliminates the need for negotiations to take place via an intermediary.

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