How Industries Are Leveraging Technology to Empower Consumers
Published 4th of May, 2022
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Sometimes technology can be cool, dazzling, and downright impressive, but is it always designed to solve the most pressing problems? No. However, some industries take advantage of new technology to empower consumers, perhaps none more than the real estate sector.
Let’s check out what’s going on.
Real Estate Agents Find You
Traditionally, when buying a house, there’s a struggle to find a real estate agent you trust. They need to understand your budget and desires, but it’s a lot more than that. Sometimes agents can be pushy or self-interested in a way that doesn’t sit right with you.
That’s why industry leaders like Regan McGee created disruptive proptech platforms that flip things around. McGee reflected on the fact that buying or selling a home will be the biggest transaction in most people’s lives — and the biggest fee payment they’ll likely ever make. The timing was perfect to leverage technology to take the guesswork out of what can be an opaque experience.
Now, prospective homebuyers simply need to make an online profile that describes what they’re looking for. Then, agents compete to get their business. Even better, there are transparent user reviews of each agent, so consumers know who they are and what they have done to deserve their share of the commission.
Buying a home will probably be the most expensive purchase you ever make. It can be stressful at times, but proptech streamlines the process by having real estate agents compete to help you.
Lower Prices
One crucial way that real estate agents can signal they are serious about empowering customers in a haywire market is by lowering their prices. Proptech is designed to have agents struggling against each other to get a customer, resulting in things like cash-back rebates and more to get a great price for prospective homebuyers.
Streamlining the purchasing process is one way to make home-buying more enjoyable. Getting a discount is an even better way, especially when you consider how the real estate market across Ontario and cities worldwide is skyrocketing.
Transparency
In life, knowledge is power. How can anybody make an informed decision when things aren’t open and transparent? Proptech makes it easy for people to know the vital stats about the homes they’re considering buying and the people selling them.
What did the same house cost last year? What are other houses in the neighbourhood going for now, and what did they cost? How much is the real estate agent making in commissions, and what work did they do to earn it?
This information and more will be right at your fingertips when you’re using the right proptech platform. It will also provide you with data about the services, reputation, and pricing of the real estate agents. Nobody should have to break a sweat to stay fully informed — that gap no longer exists in the digital, disruptive world of proptech.
Smartphones are powerful machines that can process information faster than is probably ever necessary. However, it’s crucial that their objectives are aimed in the right direction. Using proptech that makes your life easier when buying a home is a vital way to simplify, streamline, and even lower the cost of the biggest purchase of your life.