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Prince Amir Al Saud

The Role of Technology in Real Estate Enterprises

The Role of Technology in Real Estate Enterprises

Technology has been responsible for transforming and modernizing businesses globally. In fact, automation made a large impact on the real estate industry during the last 20 years or more. More real property enterprises are changing directions with younger brokers and workers shaping price movements in the property market. This transpired as technology is gradually covering almost all components of the business.

Even financial institutions worldwide observed the property sector is embracing automation solutions at a faster pace. Even brokers have welcomed fresh marketing technologies such as location-based mobile apps. These are meant to help potential buyers find the best properties in their respective areas. Users can choose to receive alerts regarding particular types of properties.

New Online Platforms

State of the art web-based platforms have been introduced particularly in the United States where the real estate industry is thriving. These have been adopted by other countries. For instance, REOZOM, a real estate firm based in Michigan, USA introduced a program which provides buyers and sellers with an inexpensive method of listing and purchasing residential properties.

Reozom.com is a flat fee Multiple Listing Service (MSL). Through this platform, sellers can have their residences registered on various websites and databases like Realtor, Zillow, Trulia, and MSL. The one-time fee is only $285. By enrolling with REOZOM, it is possible for sellers to save a lot of money from agents’ commissions. In addition, it is a great time-saver since they can have their homes listed on the listing service in 30 minutes or less. REOZOM takes care of legal documentation and disclosures.

Reozom.com gives users plenty of unique benefits. It is a hundred percent paperless service which functions via the Internet. Your property will remain with the listing until the sale is completed or there is money-back guarantee in case the property is sold through the usual property broker. Sellers can also have infinite changes to their respective listings without extra fees.

METIS is another provider of technology platforms for the commercial real estate sector. It is responsible for coming up with MREN which is the first-ever Principal to Principal international transaction platform for commercial properties. It enables parties from both sides to connect, work and close deals directly.

It is a secured program which provides the users with exclusive marketplaces. They can execute different strategies regardless of whether these are targeted or accesses by way of public markets. MREN makes available a wide gamut of potential buyers, opportunities and capital. The platform also provides management support all through the investment cycle. This is prior to, during and right after the specific transaction.

Capital participants can gain access to MREN as well as traditional players like real property investment finances. Also included are Real Estate Investment Trusts, private real estate corporations, family offices, and life insurance companies. MREN has access to one of a kind capital platforms like Atom Assets which is an investment club platform based in Hong Kong. It is composed of very high-net worth individuals along with family units.

Conclusion

Given these scenarios, real estate firms really need technology for business expansion. The slowdown should not deter them from pouring investments into technological opportunities and instruments. Technology can transform the property sector and markets. It has turned into a driving force that will change the future of this industry. The main question is whether these improvements and nonstop developments will help stakeholders in the long-term. Other concerns include the real estate agents opinion on these unique technologies and possible outcomes. Will said technologies change the way realtors do business? Only the major players can decide and make things happen.   

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