Even before the pandemic, real estate professionals used the power of technology to conveniently communicate with clients, combined with traditional means of touring the property and signing the papersBut with COVID-19 keeping everyone at home, the sudden shift to digitizing brick-and-mortar means and contactless transactions has changed how real estate agents and brokers approach selling properties.
As the new normal continues to dominate people’s daily lives and various industries, technology has offered various tools and methods integral to the growth of the Philippine real estate industryHere are some of them:
Table of Contents
The Convenience of Mobile Technology
Brokers have been using mobile technology years before COVID-19 hit the worldNow, the convenience of using a smartphone for communication, virtual meetings and tours, and signing documents to complete transactions allowed brokers to keep in touch with their clients and promote various propertiesSmartphones nowadays are developed to enable brokers to work anytime and anywhere.
The Accessibility of Virtual Tours
Besides smartphones offering brokers the efficiency and mobility to work, the Internet has allowed clients to tour properties virtuallyMany brokers learned to use basic photography and videography to provide better-quality content for seekers in checking the features of the house or condo unitSome even learned to use drones to take aerial and 360-degree shots of the propertySites such as Lamudi present photos of their listings’ different rooms, like some studio units for sale, to attract seekers into exploring the right property for them.
The Popularity of Social Media Platforms
Different social media platforms are excellent channels for businesses to expand their online presence and reach their marketSince almost everyone uses social media to read news and interact with others, online platforms have also made it more convenient for developers and brokers to advertise their projects to potential buyers.
The Variety in Online Marketplaces
Like social media platforms, online marketplaces are sites where brokers can advertise their listings and gain interested buyersOnline marketplaces are more convenient and comfortable to use as property seekers don’t have to wade through thousands of posts to find the listingsReal estate platforms are where serious property seekers look for the property they want to buyThey also allow buyers to easily browse through different housing or condominiums units and staycation spots without relying on chance.
The Safety of Contactless Payments
The pandemic has slowly changed the way banks accept down payments and mortgage loansWhile it may seem risky for many to depend on electronic wallets and digital payment solutions, the contactless feature is efficient and sanitizedIt enables buyers to complete payments without having to meet their partner brokers and bankers face to face.
The Ease of Using Stakeholders Portals
Many residential projects have implemented stricter sanitation standards and disinfection stations in every entrance and exitOthers utilize various stakeholders’ portals to ensure business continuity during the pandemic.
The sellers’ portal allows sellers to give agents access to crucial information about their projectsOn the other hand, the buyers’ portal enables clients to keep track of their investments and billing statementsLastly, the homeowners’ portal allows residents to check their accounts and even order laundry and water services.
The pandemic may have crippled the Philippine real estate industryBut the challenges allowed developers and real estate professionals to bounce back with new methods anchored on efficiency and sanitationWith these six helpful tools, the real estate industry will continue to rise from the ashes of the COVID-19 pandemic.
The Impact of COVID-19 on Philippine Real Estate Professionals Shifting to Digital Means
Meta-Description: While the pandemic changed the way the real estate industry works, these six digital tools arose to enable real estate professionals to continue working.
Even before the pandemic, real estate professionals used the power of technology to conveniently communicate with clients, combined with traditional means of touring the property and signing the papersBut with COVID-19 keeping everyone at home, the sudden shift to digitizing brick-and-mortar means and contactless transactions has changed how real estate agents and brokers approach selling properties.
As the new normal continues to dominate people’s daily lives and various industries, technology has offered various tools and methods integral to the growth of the Philippine real estate industryHere are some of them:
The Convenience of Mobile Technology
Brokers have been using mobile technology years before COVID-19 hit the worldNow, the convenience of using a smartphone for communication, virtual meetings and tours, and signing documents to complete transactions allowed brokers to keep in touch with their clients and promote various propertiesSmartphones nowadays are developed to enable brokers to work anytime and anywhere.
The Accessibility of Virtual Tours
Besides smartphones offering brokers the efficiency and mobility to work, the Internet has allowed clients to tour properties virtuallyMany brokers learned to use basic photography and videography to provide better-quality content for seekers in checking the features of the house or condo unitSome even learned to use drones to take aerial and 360-degree shots of the propertySites such as Lamudi present photos of their listings’ different rooms, like some studio units for sale, to attract seekers into exploring the right property for them.
The Popularity of Social Media Platforms
Different social media platforms are excellent channels for businesses to expand their online presence and reach their marketSince almost everyone uses social media to read news and interact with others, online platforms have also made it more convenient for developers and brokers to advertise their projects to potential buyers.
The Variety in Online Marketplaces
Like social media platforms, online marketplaces are sites where brokers can advertise their listings and gain interested buyersOnline marketplaces are more convenient and comfortable to use as property seekers don’t have to wade through thousands of posts to find the listingsReal estate platforms are where serious property seekers look for the property they want to buyThey also allow buyers to easily browse through different housing or condominiums units and staycation spots without relying on chance.
The Safety of Contactless Payments
The pandemic has slowly changed the way banks accept down payments and mortgage loansWhile it may seem risky for many to depend on electronic wallets and digital payment solutions, the contactless feature is efficient and sanitizedIt enables buyers to complete payments without having to meet their partner brokers and bankers face to face.
The Ease of Using Stakeholders Portals
Many residential projects have implemented stricter sanitation standards and disinfection stations in every entrance and exitOthers utilize various stakeholders’ portals to ensure business continuity during the pandemic.
The sellers’ portal allows sellers to give agents access to crucial information about their projectsOn the other hand, the buyers’ portal enables clients to keep track of their investments and billing statementsLastly, the homeowners’ portal allows residents to check their accounts and even order laundry and water services.
The pandemic may have crippled the Philippine real estate industryBut the challenges allowed developers and real estate professionals to bounce back with new methods anchored on efficiency and sanitationWith these six helpful tools, the real estate industry will continue to rise from the ashes of the COVID-19 pandemic.