There's an app for that: How a New Emerging Technology is Disrupting the Real Estate Industry
Updated: Feb 1, 2019
Years ago when the internet and digital technology first began impacting the real estate industry, there were people that feared the impact. Some thought it would be the end to traditional broker-agent-client relationships that the industry was built on. While there’s no question digital technology has changed the industry, many brokers and agents have learned to use it as a tool that actually helps them in providing services.
We don’t need to tell you the enormous role real estate technology plays in modern agents’ and brokers’ marketing and sales today. What we do need to tell you, though, is that the latest trendy apps like MPPA-Lite will help you craft a strategy that separates you from competing agents in your housing market, but the truth is you can’t take your technology selections lightly.
Which Tech-Tools Will Satisfy Your Vendors & Home buyers Alike?
Vendors and home buyers are increasingly looking at their real estate agent for expertise and tech-based tools to give them an advantage when buying or selling
In a recent study, with a total of more than 1,000 buyers participating in the survey between August 1st and October 31st, 2018. It found that 83 percent of the buyers surveyed worked with an agent to purchase their home and one-third of those buyers said that they wished their agent leveraged technology better to streamline the process of home buying.
Most of the buyers were conducting their home search using the internet but wanted their agent to provide them with tech-based tools to increase their efficiency in the inspections process and keep them organized when they found a home.
In terms of technology, some of the things that agents could do to help buyers save time and increase efficiency included a DIY Building Inspector App to inspect real estate like MPPA-Lite, the study revealed.
The study indicated that vendors were also becoming more informed with 62 percent of the buyers stating that they did like the idea of providing potential buyer with a building inspection report to be included in their disclosure documentation.
“With technology and mobile applications having revolutionised other industries, home buyers and vendors are now seeking the convenience of DIY building inspection Apps like MPPA-Lite to give them an advantage and keep them more organized and efficient with cutting-edge technology and tools and make their home selling or buying even easier, and giving them the confidence needed to move forward with the sale.
In terms of specific data sets, the survey identified secondary considerations like 38 percent of the buyers stated community information, including crime rates, demographics, walkability scores and quality of nearby schools as data they accessed while looking for a home
One-third, or 34 percent, of buyers, said they were influenced by home appreciation/depreciation and local market home sale data, while 21 percent cited historical property data including property tax, prior sales, and foreclosure activity in their searches.
Years ago when the internet and digital technology first began impacting the real estate industry, there were people that feared the impact. Some thought it would be the end to traditional agent-client relationships that the industry was built on. While there’s no question digital technology has changed the industry, many agents have learned to use tools like the My Property Partner App (MPPA-Lite) as a tool that actually helps them in providing premium services. Now, client’s often pre-screen properties that provide pre-sale building inspection reports, saving real estate professional’s endless hours of time and frustrations through tiresome re-negotiations due to defects found after the contracts have been signed.
As the world of technology moves forward, the My Property Partner App or MPPA-Lite is emerging as the key to disrupt the real estate industry?
How can real estate professionals use them to improve efficiency and productivity? Well that’s the easiest part of all, simply recommend your vendor and or potential buyer download and use the App as a part of their due diligence process. It’s very easy to use and the results are immediate.