Collabration of Technology and Real Estate

[abhishekgupta]

Rising demand for space, strict deadlines, the best possible prices, and a booming industry, this is what anyone will find after stepping in the arena of Real Estate. This encouraged Indian construction companies and prominent real estate developers to take on software solutions. However, adoption of any modern technology by the real players of the sector at this crucial stage should not come as a surprise for most.

And that in turn has suddenly paved the way for a plethora of opportunities for the software industry. Most pioneering realty firms have taken the assistance of IT in some form or other to strike a difference. Technologies like ERP (Enterprise Resource Planning), CRM (customer relationship management), SCM (supply chain management) and BI (business intelligence) have been helping companies for long. Now, it is a turn of Indian real estate sector to leverage the advantages of same.

Here, it does not mean getting a computer to enter mere entries or managing leg work buy to develop breakthrough technical solutions for project, all by the click of a button. Such software brings a number of benefits, the fact which is wholly accepted by Mfar Holdings, a Bangalore based real estate company, which bought Rs. 15 lakh for realty software jointly developed by Sonata Software and Microsoft. The software SonnetConstruct, helped the company to successfully complete two projects over $1.2 million sq. ft. on time.

So Real Estate is getting technologically more and more advanced.

[REMarketer]

True... however, as it relates to agents, software is not the answer... it's web applications that fullfills the gap. Linking and creating easier, more effience methods via web-apps is the future of real estate + technology.

Take for example Google Real Estate. Now you can list a house on the web and you're not confined to just the MLS! Plus, people can see your property on Google maps! google.com

Another innovate web-app is Pipeline Producer. It's flyer template application that designs all your flyers, postcards, and doorhangers for you. I get's better, it makes standard, just listed, Open House invitations, and just sold variations...12 different design formats, all within a few clicks and 15 minutes. Plus, it's unlimited use! Sucks for the overpriced graphic designer! pipelineproducer.com

[REM Consultant]

Not only that, technology is empowering both the real estate buyer and seller. Sellers have more options for promoting their homes now to get a better price and buyers get more prospects for buying their home such that they can get a better price. What a competitive world we are in now!

Karen
Real Estate Marketing Consultant
REM Communications

[spanishproperty]

Also due to the competition in the Real Estate software and solutions market - prices are cheaper for us agents with so much on offer.

I agree that software / solutions are a bit part of the Real Estate agents needs, the need is for new and effective ideas that sells.

[REM Consultant]

Yes due to the competition in the real estate software/solutions market prices for these types of things have become cheaper allowing for people to develop pieces on their own. However, these pieces need to be developed in a strategic way and without a professional involved in that process things are not as successful as they could be. This is speaking from my experience.

Do you really think it is new and effective ideas that sell more homes? I think it is the more relationships you build and the more user friendly your website is to shop for homes that will increase your selling opportunity. Virtual tours, videos, etc... are still all sales tools for the web which benefits your website in the end.

Karen
REM Consultant
REM Communications

[AlexandraRE]

I agree with Karen. There are so many people trying to sell the newest gadget to make you millions in real estate. I think that many people that get into real estate do it without previous business knowledge or training, or even the right mentality. Being a real estate agent or broker is not just selling houses, its a business. You need to build your client list and keep in touch.

There are millions of websites trying to sell you a way to get the coolest website ever {of course it'll only cost you $5,000}. Having a presence on the web will not sky-rocket your business or even get you close to the success most people hope for.

In a world where the majority of people tune out to marketing messages it is not another door-hanger or magnet that real estate professionals need; it is the relationships with clients and ability to grow their business that will bring them success.