Will we soon be buying, renting, and selling apartments over the internet? I'm sure that's within our reach.
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Companies around the world are currently working on smart apps that will sell and rent apartments online.
This reminds me of my time serving in the Israeli Air Force's flight simulator unit. Imagine the impact of applying flight simulator technology to the real estate world. Imagine you're sitting inside a simulator, just like a pilot training in our prestigious army.
This will be a bona fide revolution in the conservative real estate sector – a change in the house-hunting experience using military technologies that include augmented reality (AR) and virtual reality (VR). These tools will blow your mind. Instead of visiting the property and leaving it with a paper booklet in your hands, you'll be able to examine every last centimeter using an app that can be downloaded to any smartphone, tablet, or desktop computer.
Potential buyers usually recall only a few details about the properties they visit. Thanks to these new apps, they'll be able to see the property again and again and make a more informed decision that will assist them in closing the deal.
Thanks to the wealth of technical knowledge we have accumulated, we can assist real estate developers, contractors, and agents control the process of selling and renting apartments. An algorithm based on Artificial intelligence (AI) technology will learn clients' preferences and automatically propose the apartments best suited to their needs and tastes.
Real estate simulation technology will allow sales teams to present properties with unprecedented precision and manage the transaction process with skill and determination. The idea is to make clients fall in love with the properties they see, give them a sense of reality and orientation, and thereby speed up the sale.
In recent years, competition for clients has been on the rise in the real estate sector, with realtors finding it difficult to manage their potential client base. Sometimes, the sales representative misses out on a promising lead because of his inability to respond quickly. Consequently, less than 1% of leads result in an actual sale.
Real estate simulation technology assists in turning leads into deals, overcoming natural limitations, and diminishing the problems involved. Many developers and realtors search for solutions that can facilitate lead follow-up; this is a perpetual need of real estate companies. From what we have seen, simulation technology can increase the number of completed transactions by more than 30%.
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The global real estate sector lacks sophistication in the field of technological innovation. Israeli technology companies thus have a golden opportunity to enter this conservative industry and propel it into the future. I'm sure we can succeed!
Mark Zeevi is the founder and chairman of Bmby Software Systems
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