As technology steadily advances, so do the ways in which people go about their businesses. The coronavirus has also led many businesses to change their approach or be left behind and suffer loss. These twin truths are prevalent in businesses across the board. For those buying or selling homes, multiple ways exist to aid in this process, and keeping up with the times may have never been so important.
3D Cameras/Virtual Tours
One of the most prevalent ways in which technology is being taken advantage of in the real estate industry is through virtual tours. Seemingly every month, advances in video and camera technology arise. Cameras are currently available on the market that allow the user to project 3D images of rooms to others. The resolution of these cameras is also something that is steadily increasing in quality.
This is a great option for both the buyer and the realtor for a number of reasons. With the restrictions that are being placed on individuals and their travels during the coronavirus pandemic, going to look at a home could land both the buyer and realtor in a quarantine type of situation. It is also easier for both the buyer and the realtor to find time to do a virtual tour rather than a physical tour.
Online Home Searching
Online home searching has never been so popular and so easy. A number of helpful websites exist such as Zillow and Realtor.com that help to narrow down search results by location, price, number of bedrooms, etc. On top of this, the realtor is able to put up as many pictures as he would like, and the buyer has the opportunity to see the house from afar.
Apart from using platforms like Zillow or Realtor.com, another way in which online home searching is being made easy is through Google maps. This allows the buyer to locate his home of interest through putting in an address in a search bar. He then has the ability to check lot lines and scan the neighborhood. In some places, he may even be able to take a virtual drive through the streets through a street-level view.
Online home searching is a great option for both the realtor and the buyer. The realtor has the ability to show a home to the world via the World Wide Web. This will expedite the process and weed out a lot of unnecessary showing of homes. This is also something that will be helpful for the buyer, since he will be able to get a good idea of the property, the neighborhood, the home, and the home’s features prior to visiting.
Online Mortgage Approvals
Getting a home loan before purchasing a home is the approach of many. Before online technological advances, the norm was to go down to the local bank and apply. Now the norm is to go online and search for organizations that are in the business of giving home loans.
This is a great advancement for the buyer. Prior to these advancements, the buyer would have been left in the dark as to the interest rates of the various loan companies and also how much he would be able to get a loan for, unless he drove to each one to find out.
For the realtor, this will also boost sales as it limits the hassle the buyer will have to endure. It will also increase the amount of loans being given to individuals because companies will need to compete across the Web rather than within a city since all of the companies are now made available to the buyer.
Signing Documents Remotely
Sometimes arranging the right time for the buyer and realtor to meet to sign documents can be an extremely stressful situation. The Kay-Grant Group recommends making use of online platforms, it has helped improve the signing process for their Homebuyers in Scottsdale. The realtor is able to load documents online and send them to the buyer. The buyer is able to read the documents on his end, and he can then sign them with the click of a button or by using the mouse to form a signature. After this point, he is able to send the documents back to the realtor through the same avenue.
Online document signing will aid both the realtor and buyer because they will not need to meet in order to sign the documents. Rather, the realtor completes the documents and sends them over when he is able. Then the buyer signs them when he is able. The convenience, flexibility, and cost efficiency of this approach may be its greatest strengths for both the buyer and realtor alike.
As technology rapidly increases, so does the ability to buy and sell homes with ease. The process is made easy through the avenues of virtual tours, online home search options, online mortgage options, and signing documents online.
For both the buyer and relator alike, using some or all of these resources will prove to reap great benefits in the areas of time and money. Clearly the times are changing, and so is the preeminent way in which homes are being both sold and bought.