Adoption of Technology Important For Growth of Real Estate Industry, Believe Experts at Swadesh Group
All the major sectors have adopted technology to usher in a change for better results. But the real estate sector has been lagging behind. Nitin Agrawal, MD at Swadesh Group, a leading real estate builder of Bhopal, believes that embracing technology is important for the real estate sector to thrive in the coming years.
New technology will allow the realtors, investors and consumers to analyze the data in every form. They can interpret the information from a variety of sources. Looking at how big data has evolved in the last 3-4 years, it is totally impossible to ignore such useful information for every sector and real estate sector is no exception. From predictive policing to increasing traffic flow, technology can solve all the problems of this industry.
Technology can help realtors promote their business in a better way. They can keep track of their projects and plan for the future in advance. A proper market research was impossible in the 20th century with raw data, but the latest technology can efficiently churn out processed data like prices, returns, volumes, etc., to simplify the market research.
Some of the leading realtors like Swadesh Builders in Bhopal are able to predict the growth trajectory of certain markets in advance, by using the facts and figures to good effect. These builders are able to enjoy flexibility while managing their businesses.
Active management of property portfolio is important to succeed in the shark-filled real estate industry. Both the investors and buyers can fuel their decisions by learning the future trends with the use of latest technology. Investors can analyze and uncover potential opportunities in emerging markets and metro cities at the right time.
However, accessing latest technology is not a complete solution. A better understanding and use of latest tools is necessary for a better outcome. A number of realty portals are actively processing information, but the agents must interpret the information in a correct manner. These platforms can bridge the gap between realtors and investors, but when it comes to using these platforms, real estate sector misses the chance.
A more conscious approach is needed from this industry to accept the change and use every bit of information through new technologies. Experts at Swadesh Group believes that the current problem of fake realtors and scams will also be sorted when the data becomes accessible to all. The use of technology will lead to transparency within the industry. Transparency will lead to better exchange of deals and customer satisfaction.
Apart from this, mobile searches for real estate information are increasing rapidly. Realtors can take advantage of this development. They can update their website and attract a number of customers online. New apps are also improving the interface and simplifying real estate searches. At this juncture, promoting business on social media platforms can serve the purpose. The biggest benefit of social media is the feedback it gives to you to understand the requirement of customers and innovate accordingly. It gives you a number of options to experiment and research or explore the markets around the country.
All in all, the adoption of technology is important to transform the real estate sector. Without using the technology, it will be impossible for the realty sector to sustain the growth trajectory or record a positive curve in the future. Some of the companies like Swadesh Builders Bhopal have surely understood the need of the hour and changed their processes according, but until this million-dollar industry doesn’t embrace the technology as a whole, it may fail to progress like any other sector.