The way we use technology is constantly evolving, so that almost every process of our day-to-day lives now relies on a technological product in one way or another. Once upon a time, we used to walk into travel agents to book our holidays, but now everything is done in a few clicks online. Even the retail sector is finding more success online, with empty shops in traditional high streets a key sign of the times. The property market is heading the same way and if you are a homeowner looking to rent or sell, you will be more likely to find potential buyers and tenants with a little technological help.
So, what can the Proptech revolution do for you? Firstly, you will notice that your time is far better managed when incorporating PropTech into your plan. Photos, property descriptions and any important documents regarding the sale or rent of your properties can be uploaded online, so that you no longer have to visit the estate agent’s office to deal with admin. Documents can even be signed online and processes that used to be lengthy, such as referencing, are now streamlined and effective. Your property will become a home for someone else much quicker when using technology, so that you receive the money from renting/selling far sooner.
It will save you time in the long run too, since landlords can find, compare and book service providers on the internet, putting tenants’ minds at rest if anything does go wrong and allowing you to find the best deal. Reviews and recommendations will help you avoid cowboy companies and ensure you have the best person for any job.
Streamlined processes make for fewer unnecessary costs, savings which are inevitably passed on to the end user. Many new PropTech companies offer contributions to estate agents, in order for them to reduce their commissions, while online companies have more than doubled their market share according to rightmove, the biggest property portal in United Kingdom.
The great thing about these online-based PropTech companies is that they offer greater transparency throughout their service. With everything online and easy to access, there is nowhere for hidden costs and poor-quality work to disappear! Property owners can see how quickly their solicitors’ letters are being delivered and exactly how agents are working to market the homes they are trying to sell. Every step of the selling or rental process is available to view.
Of course, property ownership is not always that easy, but for every decision that needs making, PropTech companies have the data to support your choices. Not only does this enable you to make decisions that are better informed and reactive to trends, but it means you spend less time worrying about the options available to you, and more time on the other parts of your life. With no hard decisions holding up the process of renting or selling your home, your property will become a home for somebody in a much shorter space of time.
Advances in PropTech have been making their way into estate agency business for the past decade, and there is now a much wider selection of technological innovations for the property market. With a solution for almost every problem, selling and renting homes has never been so simple.