The rapid advancement of technology and AI is revolutionising Canada’s real estate industry and changing how properties are being bought and sold.
If you’re thinking of selling, talk to your agent about how you can best use these technologies to maximise impact and minimise your marketing expense.
Here are six technological advancements that can save you money and time and reduce stress.
Virtual Tours –
Virtual tours allow buyers to explore properties remotely through immersive 3D walkthroughs and interactive videos. This saves time for buyers, reducing the need to spend weekends at inspections. It also expands the pool of potential buyers who could be anywhere in the world.
AI-Powered Valuations & Reports –
Artificial intelligence is accelerating many processes behind the scenes, including valuations of properties. AI algorithms analyse vast amounts of market data to generate accurate property valuations for banks and financial institutions to support their lending decisions. As a property buyer or seller, you can find property and suburb reports online (we’d be happy to provide one), which can help you understand the local market.
Online auctions –
Online auctions have gained in popularity significantly, providing a transparent and efficient platform for buyers and sellers. They typically take place on specialised real estate websites or platforms. With features like real-time bidding and transparent price tracking, online auctions offer a dynamic and accessible experience for buyers. The result can be quicker sales and higher prices. Ask us about the pros and cons of auctions in our area.
Buyer Apps –
These platforms empower buyers and sellers to make informed decisions quickly and efficiently, minimising the stress and uncertainty often associated with traditional property transactions.
Secure Online Document Exchange –
Ready to sign the proper documentation? New innovations can help with that! Your conveyancer will now most likely use a cloud-based platforms to facilitate the secure sharing and signing of contracts, eliminating the need for physical paperwork. This can really reduce your settlement time.
Remote Identity Verification –
Identity theft is a major problem. However, technology innovations have significantly reduced the risk. Facial recognition and biometrics enable secure remote verification of buyer and seller identities. This reinforces protections against fraud, especially when it comes time to secure your mortgage and exchange contracts to buy and sell a property.