Shashank Vashishtha joined EXP India team in October 2020. He is an astute professional with almost a decade of rich experience in Sales and Marketing Research. He holds a master’s degree in Real Estate Investment and Sales. He served India Sotheby’s International Realty in his last assignment for delivered luxury residences. Prior to this he was associated with Cushman & Wakefield and other leading real estate developer in Delhi NCR. Possessing excellent communication, interpersonal skills, collaborating with people across levels, training, negotiating, and learning are his core strengths.
Real estate attains its value only when buyers and sellers connect and agree on a certain cost. Without this connection, the real estate business would be at a standstill. Earlier, dealings happened physically through property dealers, but with the advent of internet-based applications, real estate relationships are being forged through online property platforms. In the post-pandemic age alone, about 782 million people came online the world over. With this, the internet now is commonplace for a pool of users who can turn into potential realty buyers. If one has to quickly reach out to a sea of realty buyers, the internet offers abundant opportunities. In addition to this, Web 3 is also offering opportunities for realtors in the metaverse, which is the future of virtually simulated reality hosted on the internet.
Explore properties in the homelike comfort
Real estate brokerage has passaged to become technologically advanced. A plethora of internet users is far easier and more convenient to interact with than physically finding buyers on the market. With the advent of sophisticated realty brokerage websites, property owners prefer to convert the web3 users into their potential buyers. Property brokerage websites have taken the internet by storm. They carry detailed listings of the properties and feature all their information in a systematic and user-friendly manner. All particulars of the realty project including photographs, location, prices, size, area, room details and amenities are put out for an in-depth virtual tour of the property available in the comfort of your home. Importantly, there are trending technologies such as metaverse and some realty companies are also one of the first intermediaries in India to facilitate transactions in this digital space. With such convenience, the buyer doesn’t need to visit every prospective location, and can simply shortlist properties through a narrow online search. These online brokerage options are transparent and verify the listing to provide all necessary information to complete a purchase, rather than knock on the door of every real estate agent in town.
The advent of virtual reality and metaverse in real estate
Web 3 is providing avenues to showcase realty business products on the metaverse. This immersive digital technology lets the stakeholders be part of the dynamic virtual simulation of real estate properties being hosted on the metaverse. Not only does it help realty companies by taking their day to day operations like board meetings and internal conferences more vividly in the metaverse, but even client interactions are now being facilitated through this functionality. With every business detail being brought graphically on the metaverse, the employees, as well as the clients are welcoming this new technology.
Enhanced transparency with minimised fraud risk
Property brokerage websites have verified listings that diminish any risk of fraud. With brokerage facilities now being fully displayed on the web, all information about the property is put in front of the potential buyer beforehand. The user gets to verify and access all information about the property beforehand. The element of trust is given a fresh meaning, wherein there are no hidden agendas and dubious agents are kept at bay. The reliability and trust factor is improving manifolds, wherein more information disclosures about prices and properties are going public on these web-based portals. As more information flows out, the chance of fraudulent transactions automatically dips. Also, these websites have a homebuyer centric approach that gives more weightage and priority to the needs of the buyer.
A futuristic outlook
Real estate brokerage is now slick with internet-based online portals laying every part of property information bare before the buyer. To top it all, the services are offered in the comfort of home rather than sweating on the field. This business is now open and transformed, especially with the competitive edge now being offered through the possibilities in the metaverse.