Real estate holds value when it tries to be a feature-rich segment that involves the latest technology. Smart homes that offer sustainable living with automated sunroofs that can be closed and opened with a remote to let in the natural light, keyless doors, better alarm systems, and AI assistants to set the mood in the room for lights that change from serene to a party dance floor within a snap of finger are all encapsulated into the modern living. But real estate does not start and end with the architecture, interiors, or the prime location of the building. It also encompasses the paperwork, loan process, and closing that are now digitally using eNotes for Mortgages.
It is not enough for builders and developers to use virtual reality to showcase the sample apartments to their prospects. The entire process has to be automated to continue the pace of the elevated experience so that the number of expressed interests can quickly convert to actual closures. This is possible only when the developer is partnering with a bank so that clients can avail digital mortgage which is complete with eNotes that can be virtually signed using electronic signature and closed virtually if there is a need.
Though technology is moving ahead, architecture is going back to its roots, to conceptualize and build with sustainable replacements that are durable and help in maintaining a cool temperature naturally. By using more earthen materials like bricks and stones, houses that remain warm during winters and cool during summers can be constructed. The entire house can be constructed using the client’s specifications and shown to them. If there are any changes they are carried out at a tap of a button, where the changes can be incorporated.
Here are some new tech-aided tools that are shaping the real estate boom:
- Digital Mortgages
Most people need a loan to buy a property. The loan origination cycle is a lengthy process, involving stacks of paperwork, and multiple visits to the bank. Digital mortgages have replaced the process with easy omni-channel onboarding which is accessible anytime. An applicant scans and uploads documents. The next stages of the mortgage are carried out electronically using technology for contracting, preparing promissory notes, signature, and storage. The documents are stored in an eVault and can be accessible only to authorized people.
- Data Analysis
Market research using deep learning methods to predict near-future trends and investible options is helping many people invest in real-estate-based funds and REITs for a diversified portfolio. Now investing in companies that manage the lease for shopping complexes, office buildings, and residential complexes is easier than owning a property.
- Smart Homes And Offices
Office staff no longer carry a swipe card to enter into their workspaces. They can now use their biometrics to enter the building. Likewise using IoT, virtual assistants around the house can be used.
Conclusion:
By the end of every six months, new technology is surfacing and making real estate more interesting as a space for long-term investment. The golden period of real estate is yet to start.
