Innovations in technology have not only changed the landscape of Canadian workplaces 鈥� they鈥檙e also impacting how residents buy and sell real estate.
For most people, purchasing a home is a complicated and time-consuming process, mainly because of the numerous in-person visits with real estate agents and brokers, said Mohit Rajhans, a media consultant at ThinkStart.ca.
But more homebuilders, real estate brokerages, and financial institutions are using digital tools to revolutionize the home-buying process, making it easier and more convenient to shop for real estate, he said.
鈥淢any industries that have had a legacy of doing business for such a long time have had to find different ways to do business in real estate,鈥� Rajhans told CTV鈥檚 Your Morning on Monday. 鈥淲e鈥檙e seeing the process change completely now from stalking open houses to actually going online for hours a day 鈥� to know everything from buying and selling to managing the buying process.鈥�
Drone surveys and 3D modelling of areas of development, for example, are helping in mapping out what a new home will look like, Rajhans said. Virtual home tours and open houses done over video also act as digital solutions to facilitate home-buying, particularly during a global pandemic, where there has been such a strong emphasis on physical distancing.
鈥淲hen you can guide somebody through the process and they feel secure about it, it doesn't really matter if it's online or if it's in person,鈥� Rajhans said.
More real estate agents are also using digital tools to better connect with potential clients, said Rajhans, using podcasting and social media platforms such as TikTok to offer advice on purchasing homes as well as additional details on properties.
鈥淭his is the biggest purchase possibly of your life 鈥� you're making an investment with friends or family in certain situations,鈥� said Rajhans. 鈥淪o you want as much information as possible and with good social media, what I'm noticing is that people are giving that information away for free in hopes to get your business.鈥�
Watch the full video with CTV鈥檚 Your Morning at the top of this article to learn more about how technology is changing the way Canadians purchase real estate.
