Technology and its Dynamic Impact on Real Estate Market

Technology Affects Dynamic Shift in Real Estate Market

Technology and digital innovations have had major effects on Pakistan’s real estate market. The efficiency in communication and management is ever-increasing and so is the real-estate market. Monitoring this development process, dynamic change on the real estate market becomes more and more recognizable.

The last big thing

A significant impact on our real estate sector was the implementation of online marketplaces. Whereas acquisitions were achieved by word of mouth in the past, online portals enable everyone with an instant access to available properties from an internet connected device.

Considering their potential, it is obvious that our real estate market will revolve around online portals in the future. Inevitably, developed technologies will be adapted to make online property selection and comparison a convenient, efficient and enjoyable task.

The next big thing

“Online experience” is the keyword and there are several tools in technologically advanced real estate markets that could prove to be a game changer in our market. There are analytical tools which are very beneficial to select the suitable property for you out of countless available properties scattered all over the country.

These analytical tools facilitate the right choice for prospective residents by collecting data and providing advanced statistical analysis about price and location of favored properties. Whereas location tools like Google Maps and Google Earth have already been integrated in the search process, virtual tours will probably become an integral part of future online presentation, as well.

Taking on new roles

The shift to a consumer-centered online market and all its applied technology has transformed the dynamic of the Pakistan’s real estate sector. Property seekers are more efficient in their research process. They are more proactive and less dependent on agents. Newcomers to the real estate market are now better placed to get benefited from these technologies as they can easily get an overview of the market before making their investment decision.

Property portals enable landowners to bypass real estate agents by making their property accessible for millions of prospective buyers on their own.

What happens to real estate agents? The trend towards online market will force them to cooperate closely with online portals. Agents have to produce professional digital contents for their portfolio’s online presentation. Since the online market is open for everyone, agents with the best online presented properties on the most user-friendly, best user benefit providing online portal will have a decisive advantage over competitors.

Considering all of the above, everything will lead up to a transparent and more attractive real estate market in Pakistan.