This is how digitization has changed the real estate industry Virtual reality (VR), artificial intelligence (AI), and augmented reality are all technologies that have the potential to be used in real estate. Nearly 94 percent of Pakistani investors have seen digitization as a very important trend in recent years.
Through the interplay of artificial and human intelligence, the goal is to streamline long-term processes and create transparent relationships between service partners, customers, and brokers. Innovative technologies should not be used only to support the real estate industry, but also to promote progressive working methods among a new generation.
Apartment viewings that are comfortable and efficient
You may see long lines and carefully planned time slots when you imagine looking at an apartment. There is an alternative: Virtual reality glasses and 3D apartment models allow objects to be viewed at any time. The viewing appointments, travel, and waiting times are eliminated for interested parties.
Smart facilities such as Pakistan First Capital Smart City have become increasingly popular in real estate.
Brokers also benefit from reduced viewing time, which is a positive impact on overall customer care. VR inspections can also be tracked and automatically assessed. It takes just a few clicks to determine the object’s level of interest.
Smart data and AI as central drivers
Artificial intelligence is used to analyze data patterns and identify their causes. This knowledge is used to optimize customer processes. AI can be applied in many areas.
Artificial intelligence and its resulting pattern recognition allow brokers to add regional expertise and provide information matching between owners, interested parties, and real estate.
Automating documents, registrations for rental, and reference checks is also part of process optimization. AI can also be used to manage real estate. This allows for situations such as rent loss, vacant properties, and gaps in renovations to be identified and prevented.
Are machines going to replace humans in the real estate industry?
Virtual reality, matching options, installed windows update and digitized administrative processes will allow for virtual reality viewings. Will this make brokers redundant? Although it may seem counterintuitive, this is not a reason to panic.
Digitization and associated automation of processes result in a simplification of administrative tasks and acceleration. This allows brokers to spend more time focusing on customer needs and personal contact.
The digital revolution creates more room for human expertise and the human component of the service, which in turn strengthens its importance. This will have a long-lasting impact on the future prospects of the real estate sector.