In the era of Information technology, Real Estate business are using the technology to attract new buyers/sellers, reduce marketing costs and to close property deals quickly. This investigates provides a significant effect on the earnings of estate agency firms in various countries. Factor analysis and regression analysis shows that the information technology has a positive significant impact on estate agency firm earnings.
The technology changing the real estate business
Many industries have stayed current with technology trends and established industry standards, real estate is a notable exception. Real Estate business has hard commodities, which requires an elevator to fit along the business like – Uber. Real – Estate industry has fragmented and antiquated in numerous ways, with technology being right at the top of that list.
The role of information technology in the real estate industry
As the economy expands, the demand for real estate gradually begins to grow. The industry brings together real estate commercial and residential property, developers, builders, engineers, architects, suppliers, subcontractors and other related entities. Eventually, even the rents are increased to levels that permit new development to be profitable. Employees of real estate companies frequently think in terms of “projects”. The industry is being managed by information technology in number of ways.
- Ways to target new customers.
- Increasing communications among themselves and the customers.
- Integrated internal process.
- Innovation in information exchanges.
- Cost Suggestions
- Go faster in business
ERP (Enterprise Resource Planning)
- Automation & Streamlining of business process.
- Be market responsive.
- Strategizing for a Successful Business.
- Be Cost Effective.
- Improve your customer relationship & their satisfaction.
- Business Intelligence Business Reports
- Provide Consulting on Top notch ERPs such as SAP.
- Creating Custom Dashboards based on your business.
- Integration of the system and migration of data from different landscapes.
- Online catalog and Payment Integration.
- Innovative Data collection and consolidation using IOT electronic devices.
- Software and service and Cloud platform.
- Improve your data.
- Put your data into action with artificial intelligence.
- Elevate your experience and eliminate your relevant efforts.
- Use of Sensors & Internet-of-Things (IOT) devices into various forms.