Given the dominance of digital technology in today’s world, it’s not surprising that the first generation to grow up with the internet relies on it. People use smartphones to stay in touch, read the news, and make purchases.
E-commerce has transformed retail, and now younger homebuyers embrace technology when making the largest purchase of their lives. Let’s check out some of the reasons why millennials love real estate technology so much.
Immediacy
You can still find property listings in the back sections of a newspaper or community pamphlet. However, it could be off the market by the time you’re reading it.
Digital technology can respond in real time. There’s no other way to get this level of immediacy. You don’t want to get caught using tools that can’t keep up when you’re buying in a quick-moving industry like real estate.
Real estate technology also makes it a breeze to stay in touch with agents, browse and share listings, and lots more. Anybody can instantaneously consult the latest listings and connect with their realtor.
Transparency
Homebuyers must get all the information they can before making a purchase. There’s a lot of money riding on it! Nobody wants to be left in the dark while making such a crucial purchase, as has been the case in real estate for years.
The digital disrupter Regan McGee aptly summarized how Nobul, his digital real estate platform, addresses this historical problem. He shared in an interview: “Nobul brings choice, accountability, and transparency to an industry that has, for decades, been widely regarded by homebuyers as opaque and challenging.”
McGee created Nobul in part to increase transparency for homebuyers. That’s why Nobul doesn’t accept payments from agents to get listed or ranked on their platform. The verified user reviews are trustworthy because only real clients can post them.
Millennials who don’t order takeout without consulting online user reviews are expectedly drawn to them when buying a home.
Data
Ensuring data is transparent is a start, but modern buyers are also looking for better data. The power of modern computers puts better intelligence at their fingertips, and there’s no reason to ignore what’s right there.
For example, homebuyers can list their budget and describe the home they’re looking for, and Artificial Intelligence can scan the market until it finds such a home. Then, it’ll send a digital notification, so the buyer sees the perfect listing almost instantly.
Homebuyers have little time to waste, even if bidding wars aren’t as common or competitive as they were this time last year. Using a real estate technology platform lets them harness better data and powerful AI, tools homebuyers from decades ago would have killed to have.
Sometimes it feels like technology is a hobby, and people like digital gadgets the way others like niche interests such as politics or music. Even if you aren’t on the frontlines of digital innovation, real estate technology can simplify the homebuying process and save such significant money that millennials can’t afford to not use it.
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