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4 Ways Proptech Can Enhance the Customer Journey

Blox Social
Posted on
Mar 23, 2023

Proptech is the bridge that's connecting real estate with the thriving digital technologies of this decade. It will change the way people buy, sell or rent properties. 
—Aman Kapoor, Head of Marketing

Implementing proptech or property technology solutions marks a significant change in how brands engage with their customers. Buying a property is a substantial investment for most Indians, likely the most significant purchase they will ever make. As a result, the process can be lengthy and time-consuming. Therefore, there is a need for a more efficient and effective way to complete this transaction.

Hence, it means that the developers or the brand owners must be available at all stages throughout the customer journey of buying a home. Home buying seems like a challenging period for customers, for which the brands must always be available with the right set of advice to build better customer relationships. 

So, to ease the home buying journey for the customers and to give them a great experience, proptech was introduced. It is responsible for automating most of the redundant processes with digital tools. As a result, this ensures that a brand is always connected to its customers.

In this article, you will get an insight into some of the specific ways proptech is responsible for enhancing the overall customer journey toward buying a property. 

1. Managing and Improving the Customer Engagement Aspects
Before proptech was in play, the usual method of communication for real estate firms to consumers was through face-to-face or phone interaction, word of mouth or physical exploration of the property. All of these approaches worked, but they usually consume a lot of energy and time on both ends. 

In short, the real estate firms didn't have the flexibility to engage in health communication with most customers strategically. But, with the implementation of proptech in the industry, real estate firms now have the liberty to offer end-to-end support to potential customers in their home-buying journey. 

Proptech solutions involve online engagement, AI and several communication tools to collect and analyse customer insights. As a result, the firm owners will have enough information about catering their suggestions and services to meet the customers' expectations. 

2. Remote Exploration of the Property and its Neighbourhood
It is quite important for customers or home buyers to visit the site and check out the neighbourhood to determine if it is the right place to invest and live. Earlier, people had the only option to visit the site physically and check out the apartment and neighbourhood before deciding. 

While it remains a matter of personal preference, technology has revolutionised property buying and made decision-making easier for customers. Thanks to advancements in virtual reality (VR), artificial intelligence (AI), and 3D printing technology, proptech platforms can now offer customers the opportunity to take virtual site visits. This development has significantly enhanced the property-buying experience and provided buyers with a more immersive and interactive way to explore potential properties.

It means home buyers can now sit in the comfort of their homes and explore the actual nooks and corners of the property. They don't have to leave their home and visit the site for physical exploration. This feature is especially advantageous for individuals who reside in a different city or state but are interested in purchasing property in another location. With the help of proptech solutions, buyers can now take virtual tours of properties without the need for physical travel. Not just that, but with drone shots, the consumers can also remotely get the surrounding bird's eye view of the property and the neighbourhood. 

Hence, this is another evident way proptech is helping real estate firms evolve the customer experience. 

3. Closing the Property Deals Digitally
Gone are the days when the pre-closing process for a property deal was lengthy, with a lot of paperwork. Believe it or not, the lengthy paperwork and real estate transactions were frustrating and intimidating for the customers, developers, brokers and everyone involved. 
Proptech solutions can be integrated to develop digital closing software, where the customers can securely and transparently execute the closing process. All the documentation will be handled and verified digitally to ensure the ownership validation is successful. 

4. Blockchain Eradicates the Involvement of Brokers
Implementing blockchain in proptech platforms allows only the buyers and sellers to interact with one another. Hence, this will help them create smart contracts and authenticate them without the involvement of any brokers. 

One of the most common blockchain applications is implemented onto the proptech listing platforms. When the list of properties is stored within a blockchain network, it becomes an encrypted, decentralised and single database. Thus, it is difficult for any outside party to access the data. 

Hence, it becomes impossible for third-party listing applications or other websites to inflate prices or provide inaccurate information. Hence, viewing and purchasing a property will be easy through secure transactions. 

Hence, modern-day home buyers who are quite impatient to deal with lengthy property buying processes will find it easy with proptech integrations. Smart contracts make it convenient for customers to save time on the validation and processing of documents. Month-long processes can now be completed within days or weeks. Hence, the customer journey is improved! 

Today, there are ample domains within the real estate industry that are leveraging the potential of proptech. It is making lives easier for home buyers as well as property developers. Streamlining property transactions and providing customers with reliable content has made proptech a success. 

One such proptech platform is Blox! It is a property search engine that enables a single transaction platform for you to find, interact and finalise your property deals in a few clicks. The platform has modern technologies that allow you to view the property virtually for better decision-making. 

But, if you are willing to stick to the traditional means, Blox still offers you an option to book a physical site visit. Thus, Blox intends to ease your overall home-buying experience and is one of the best proptech platforms for you to use.