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Even during this painful pandemic, there have been a number of technological updates in regards to the whole real estate business trends. With many more agencies moving towards online-based approaches, let's analyse the online future of the real estate sector. Online: How? Approaching the digital world as a real estate professional could be extremely complicated. There are, in fact, a number of things to keep into consideration. To start off, the need for a solidly working architecture. Building a website in 2020 isn't as easy as it was 10 years ago and, with dozens of new pieces of technology, is mandatory to have something which the users will find appealing and properly working to ensure that your conversion rate is high. With this in mind, there are tons of CMS (Content Management Systems) out there, starting from Wordpress, to Shopify and Magento, if you want to give your site a more eCommerce-related feeling. Costs And The Future As said above, the world of digital has changed drastically in the past couple of years. The usage of technologies like machine learning for example, to simply build some landing pages, has led to a much higher competition between companies, and the real estate sector is no difference. In fact, the average cost per digitalized product now fluctuates around £4/5000, depending on the level of customization you're looking into. A fully dedicated PWA (an application, to reference, which works the same way on both desktop and mobile) would also work ideally for auction agencies, due to the fact that the vast majority of them now takes online enquiries. Data Speculation and Finance Moving to an online architecture has got pros and cons. Data-wise, in particular, there are a number of companies within the real estate sector who have valued their customers data, protecting them whilst building safe environments in which they could have been stored. With this in mind, such amount of data is usually referenced within small finance and definitely not for mortgages, bridging loans or other forms of bulky real estate finance. With this in mind, it's quite easy to understand why many clients have been heavily scared of such digitalisation but, with the recent pieces of technology, there will be thousands and thousands of ways for which your data will be protected. To Conclude Yes, the online side of your business, if you work within real estate will be extremely important. Thousands and thousands of businesses are looking into a number of technological development routes for their products and it's safe to say that this is just the beginning. We'll see what will happen once this pandemic will end.
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Author: Paul Matthews | Created at: 21.05.2020

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