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The Advent of Technology And Its Impact on Real Estate

Technology has taken over the world. With every passing day, humankind is progressing and making a way forward. Continuous progress in technology has not only changed our lifestyle but the face of many businesses. The real estate sector has also changed diversely due to technology. The advent of technology has impacted real estate development and marketing. The evolution of technology in the real estate sector is divided into three phases. The first phase started in the 20th century with the invention of the computer. With the introduction of the internet, the real estate marketing firms started digitalizing the services which was the second phase of the technology evolution. It motivated the real estate sector and lasted from 2000 to 2010. Currently, we are in the third phase of evolution. This phase is using augmented reality, artificial intelligence, and the concept of virtual reality in the real estate sector. The real estate organizations and real estate marketing firms highly believe that technology has evolved the real estate sector and they should get more benefits from technology. Right now technology is being used in every dimension. Here is how technology has impacted the real estate sector in Pakistan.

Role of Technology in planning and development

Planning is the first step to develop any real estate project. The developers have equipped their organizations with the latest technology and modern machinery so that they can provide a safe and secure project. The latest methods and studies are used to minimize the risks and avoid errors. The modern equipment and new research have helped engineers to plan and develop real estate projects with efficiency. Any error in design or architecture is removed in the initial stage due to technological development and advancement. Park View Lahore NOC-approved project is an example of technology-driven planning and development.

Role of technology in constructing infrastructure

New real estate projects are exemplary. They are constructed using the latest machinery which helps to complete construction in less time. The infrastructure has also evolved and includes technological advancements. The construction of roads or streets is different and less time-consuming. It is due to the advent of technology that an underground network of electricity, internet, water, gas, and sewerage or drainage is laid before the construction of roads or streets. The architecture and designs of the buildings and houses have improved due to technology. The discovery of new materials and techniques has helped to get a better lifestyle.

Role of technology in marketing real estate

With the arrival of the internet, many real estate marketing firms started shifting the services to online platforms. Currently, most of the marketing in the real estate sector is done through social media platforms. News regarding new housing projects is published on digital platforms including social media. News includes announcements of NOC or new development. It could be an announcement on a new payment plan or the construction of a new block. For example, Nova City Islamabad payment plan was updated a few days back. Many real estate agencies/ firms/ marketing companies/ realtors are working online. These organizations have created a wide network over the internet and are using it for lucrative purposes. The projects are advertised and marketed over the internet. Customer services are provided over the internet to confirm the deal. Moreover, it has become a platform to connect buyers and sellers.

Role of technology in transactions

Many real estate deals and transactions are happening online. E-commerce is helping the real estate sector to grow. According to real estate marketing firms, technology has helped to deal with transparency. It has helped to erase human errors. Financial transactions have become easier. It helps to save time and effort, also it has reduced malpractices. Many real estate housing projects now offer an option to pay money through online paychecks. This has been convenient for many customers and it is safe and secure as well.

Role of technology in buying, selling, and renting

With digitization, buyers, sellers, and renters are using online platforms to get their requirements fulfilled. Technology has allowed investors to develop applications that connect everyone. The advertisement has become easier and everyone can get whatever they want. If a person wants to get a loan to buy the property or wants to sell the property, everything can be done with just a few clicks.

Technology has been used to evaluate property, real estate management, and regulatory affairs. It has helped people to learn about the different aspects of numerous topics. People can sit back in their homes and can do their research before stepping out in the real estate sector. Real estate marketing firms can no longer use innocent and naive people to make money. Click here to check the updated Nova City Islamabad payment plan and to know more about the Park View City Lahore NOC-approved project.

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