Why Real Estate CIOs Rush to Embrace Mobile Proptech?

PropTech Outlook | Monday, October 14, 2019

Mobile proptech for real estate is becoming a 'nice to have' technology. Visionary CIOs are expected to haste for reaping the maximum rewards that this new tech offers.

FREMONT, CA: Technology has ushered in new possibilities in the real estate industry. There lie diverse technology tools and solutions capable of disrupting the real estate industry altogether. As real-estate is a people-focused business, more leads mean more sales, and real estate technology does bring in new ways to boost sales. From online mortgage platforms to tenancy management software, technology is flooding into the real estate industry in many ways. But among all the technologies, mobile proptech, in particular, is changing the way people buy, own, and sell properties. Right from mobile applications that provide improved property management, real-estate business owners have access to more robust mobile proptech offerings than ever. Here is a look at the significant benefits mobile proptech offers to the industry, and can ultimately help real estate CIOs make a choice on investing in mobile technology. 

• Accurate Property Valuations

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Before the rise of proptech, buyers had limited access to information that can help them make quick, informed decisions about the property. Today, real estate consumers no longer like to visit a property multiple times to evaluate its conditions and collect information. To handle this situation, CIOs are recommended to deploy mobile tools that can provide valuable information to consumers that they need, to make better-informed buying decisions. Mobile applications can provide property valuations based on algorithms that identify which factors have the most significant impact on the property's value. Users can evaluate properties by forecasted property price growth and other factors. Mobile technologies can also give buyers all information at their fingertips to understand property valuations. With this, users will be better equipped with the knowledge to make informed decisions. 

• Streamlined Property Management

There are many complicated aspects of managing a property along with tenants. However, property management software streamlines the process by facilitating instant communication between landlords, tents, agents, and contractors. Mobile technology can help property managers optimize their business. It brings property managers, buyers, landlords, and service contractors on the same page. A mobile application can also offer robust accounting features to ease property business. Mobile-based platforms offering accounting, payments, marketing, and communication tools for property managers are actually streamlining the process of property management. Mobile apps can also provide a variety of educational resources for clients, helping CIOs boost business.

• Building Community 

Like most technology, mobile proptech can make it easier for people to connect with others, particularly those that live in the neighborhood. Mobile applications help people stay in a loop about what goes on in their community and learn about neighbors. CIOs can provide free apps for their clients to instantly communicate concerns, events, and properties for sale, recommendations, and other services. Similar to a bulletin, it can allow users to create posts within different categories. CIOs can also insist on developing a built-in messaging system for users to chat with neighbors about different interests.

• Predictive Maintenance and Energy Efficiency

Using smart devices connected to mobile apps allow homeowners to create more intelligent and energy-efficient spaces. With this technology, residents get the opportunity to monitor the activity of smart devices through their mobile phones and gain better control of their use when it comes to utilities such as electric, water, heating, and cooling. Sensors connected to mobile apps can also create a custom program based on the schedule, and parameter setting can automatically adjust to save energy while residents are away from home. Mobile apps linked with smart devices not only increase energy efficiency, but they also automate and resolve building maintenance issues. Offering this convenience can provide a definite selling advantage for property owners and agents. CIOs can also focus on developing a mobile app that can send real-time alerts and reports to the user's mobile devices. This can even predict the maintenance schedule based on energy consumption.

Check Out This : Utilities Business Review

• Creating Three Dimensional Plans

With the investment in a mobile application, CIOs can help users create floor plans directly from mobile devices. Using mobile property technology, consumers can get a better sense of the home they want to buy or rent. Some mobile apps in the market are allowing users to create three-dimensional plans quickly. All that users need to do is, use their device's camera and mark the corners of the space. The mobile app then generates a floor plan, saving users the time and money it takes to hire someone to develop a floor plan for them.

The rise of mobile technology has significantly impacted the way customers buy and sell properties. As the number of mobile technology solutions and tools increases, agents and consumers will find themselves gaining more convenience than ever. From buying and selling to maintenance, the opportunities offered by mobile proptech are endless, serving as the worthiest investment that real estate CIOs can make. 

Press Release : CIOReview

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