Real estate accompanied by modern technology
The 4th industrial revolution, like other branches of the economy, has touched the real estate trade. The trend that is current is called proptech and it signifies the ever-changing changes that are happening in the real estate market and concerns all relevant business segments: the way buyers find properties, the sales process, the after-sales activities.
For the 10 year of business, over 2.8 million real estate sites were placed on the nekretnine.rs and over 22 million users visited the site. Every 2 minutes, one property was set up over the course of 10 years. In those 10 years we have witnessed changes in the behavior of both real estate buyers and sellers. It’s about evolution, not about behavioral revolution.
Renting an apartment facilitated with HD
Real estate buyers and their expectations have changed. In Serbia, interest in the real estate field has increased by 88% since 2004 (source Google Trends). More importantly, real estate buyers get their first impression of a property on a mobile phone. From January 2016 to October 2019, participation in mobile phone visits has increased by over 100%. Today, almost 60% of users come to the site via mobile phone.That is why the presentation method needs to be adapted to the mobile phone itself. What photography looks like, how it is oriented, what resolution it is, is it essential for the successful rental of apartments or houses, as well as for their sale. 84% of Internet users in Serbia use the Internet every day – therefore gaining access to the Internet is inevitable.
Flat sales with modern technology are seeing a significant increase
As much as 38% of the time it is a longer hold on real estate that has a virtual 3D tour. This gives all sellers who have a virtual tour of the property more time and space to influence the buyer and increase the chances that the sale of apartments, as well as all the properties they own, goes much easier than before. We would like to emphasize that in Serbia most of the real estate is not exclusively sold, more agencies are selling real estate at the same time, so it is very important to find a way to stand out and attract a buyer. Properties that don’t have photos have a 30% higher bounce rate than properties that have photos. Photo quality and virtual tours are what portray real estate in the best light.
In the future, we expect the impact of several more currents on the real estate market. The first of these is the blockchain. It is a huge opportunity that the blockchain will standardize and secure real estate data. Country, listings, mortgages, loans, taxes – all can benefit from the use of blockchain technologies. The biggest impact of this technology is expected in the next year or two. In addition, significant impact and technology such as; AI, Bigdata and machine learning and voice searches.