The Role of Information Technology in the Real Estate Industry
Arun Patil
The property business is no longer the terrain of business men. The techies are involved in it now in a big way. Over the years, the real estate sector has changed in an unprecedented manner. The overall growth in demand for property in the country has always been high and the property business has been a highly popular mode of investment. Over the past four or five years, the business however witnessed a slowdown. It was at this time that the overall growth in demand for housing witnessed a reduced demand for housing. This was the time the investors and property builders became innovative and decided to incorporate technology in the business. Some students in IIT Mumbai were not satisfied by the state of affairs while searching for homes online. They decided to create a portal on their own and housing.com was thus born. The overall growth in demand for property across the country emerged in the year 2015 and housing.com by this time had proven that innovative use of technology indeed can bring about a change that is actually beneficial to the end users. Now whether one is looking for property dealers in Delhi or resale properties in Jaipur, technology has changed the way houses are searched.
The role of IT defined in the real estate sector
Property portal housing.com has emerged as one of the most prominent new portals for searching houses online. With the advent of the mobile technology, it has become extensively easy for the property seekers to search for houses and real estate agents anywhere, anytime. The use of technology in the real estate is not new. In fact there were property portals present even a decade back to help property seekers find the best houses and real estate agents. However most of these portals were merely repositories of information and did nothing to validate or convince the end users. The end users in turn had to actually seek out the houses or the real estate agents to verify their existence.
Then the recession hit the property markets a few years back proved to be a boon for the technology business to find its way into the real estate sector. The recession forced the builders to seek alternatives to promote their properties in unconventional manners. Apart from the use of internet, the provisions emerged on the mobile devices as well. Over the past few years, the nation had witnessed a growth in the use of internet and mobile devices. The use of both helped propagate property related information far and wide.
The now and the future of technology business
The overall growth in demand for properties across the country has increased in the year 2015. The demand for houses has arisen and the need to find resources to equitably search them has increased too. Now technology is not only used for searching houses but also-say- real estate agents in Delhi and other cities. Housing.com has changed the way houses are searched online and the portal also offers a provision to search for property agents as well. The overall growth in demand for property in the country has been effectively captured online. Housing.com has managed to capture property related information with ease. The portal also offers numerous innovative features which it continues to create. That’s what lies ahead.
IT is the bomb…