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5 Ways in Which the Real Estate Industry May Change in the Next 3 Years

By Finserv MARKETS - Dec 3,2019
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Real Estate Industry May Change in the Next 3 Years

Technology is rapidly changing the service and business industries and the real estate sector is no exception as it has embraced the advancements with open arms. Today, technology has made it simpler for buyers and sellers to communicate and conduct their businesses.

Now, buyers do not even have to visit a plot to buy it as the entire process of finding and purchasing properties can be done online. The sellers, too, can reach their targeted customers easily. Technological developments can be of further benefit to the industry in many ways still and are likely to transform the sector in the next few years.

So, this is a great time to consider opting for a home loan as even buying a new house has become easier. Explained below are five ways in which technology will transform the real estate sector in the near future.

1. New tools to organize information

In the last couple of years, many tools have been introduced in the real estate industry. These tools help customers and service providers alike to gather and organize information about properties with relative ease. Sellers and agents can now use service-related software to understand the investors better and offer curated services. Homebuyers, too, are benefitting from such tools as these have made the entire process of finding properties easier and time-saving.

It can be expected that these tools will become even more effective over the next few years. This will surely make the real estate sector more customer-friendly. With these developments, you can acquire a Bajaj Finance Home Loan without any worry of finding the right property.

2. Blockchain will become more powerful

Blockchain technology is a time-stamped series of immutable records of data that is managed by a bunch of computers, it’s not owned by any single entity. Each of these blocks of data is secured and is bounded to each other using cryptographic principles. Blockchain technology has come as a blessing for the real estate sector. It allows fast and secure transaction of money. With the help of this technology, transactions of higher amounts can be made in a matter of seconds. Blockchain is a powerful tool and is being further developed to increase its affectability. It can be expected that the technology will become more user-friendly, which is the key to mass adaptation. This will transform the industry. However, for Blockchain to become a more integrated part of the real estate industry, more people need to start using it..

3. Agents will become obsolete

For the longest time, agents have been a vital part of the real estate industry. Buyers and sellers both use the services of an agent for various reasons. These services do not come cheap and are an added cost for sellers and buyers. Nonetheless, the involvement of technology is making it possible to operate without the support of an agent today. Now, buyers can easily find a suitable house online, while the sellers can directly make their sale. To buy your dream house, all you need to do is spend a few minutes on your phone or computer, get a Bajaj Finserv Home Loan, and move into your new home.

4. Buying the property without visiting

3D Virtual Reality programs have been a game-changer in the real estate industry. Gone are those days when you had to visit a property multiple times before buying it. Now, you can use these programs to look around the property right from your home and make a quick decision.

5. Introduction of rental applications

If you are thinking about renting a house, you can enjoy the advantages of new technology. With these tools, you can quickly find properties for rent and communicate with the owner directly. These tools will become even more effective in the future.

With technological advancements, ease in the availability of loans, and options of prepayment of home loan, the real estate industry is expected to revive in no time.

Are you looking for a home loan to own your dream property? With various innovations taking place in the real estate sector, you can avail a loan with ease and convenience. With Finserv MARKETS, enjoy a home loan of up to Rs 3.5 crore. Minimal documentation is required and the entire process is hassle-free. You can get your loan approved in minutes. What’s more, enjoy flexible repayment tenures of up to 300 months, with zero foreclosure charges.

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522