Home Listing method Living in a virtual world

Living in a virtual world

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Technological advancements have a huge impact on the housing market

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There was a direction the Canadian real estate and homebuilding industry could have taken last year when the world stopped.

With open houses banned, sales centers unable to open, and the uncertainty of the standard, builders, developers and real estate agents were suddenly faced with what many predicted to be a bleak future.
Fortunately, it didn’t turn out that way, not by far.

In fact, StatsCan said earlier this year that “new home prices rose 1.3% six months after the start of the pandemic (between February and August) compared to a 0.2% drop seen in the last month. during the same period in 2019. Prices have increased in 23 of the 27 cities covered by the New Housing Price Index since the start of the pandemic. “

They may not have been the only ones responsible for the price increase, but advancements in technology have had a huge effect on buyers, sellers, developers and builders, especially since the onset of COVID-19.

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According to Anshul Ruparell, CEO of Real Restate brokerage Properly, “long-awaited innovation has accelerated in many industries, including real estate. An example of this, he says, are “house calls, which have always been disruptive to the seller, but today having people in and out of your house poses serious security concerns.

“As people become more comfortable with virtual viewings and with sight buying, the buying and selling process is evolving in ways that will long outlast the pandemic. “
How technology is helping to change an entire industry can be seen in three distinct software offerings below:

Correctly Polish powered by Jiffy: In February, Properly announced its partnership with Jiffy, an online home repair and maintenance app, to launch a service that gives sellers an “interest-free advance of $ 20,000 for upgrades and upgrades. the house in order to maximize the sale price “.

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According to the two companies, the seller only reimburses the costs of the upgrade after they close the “sale of their home, eliminating the financial burden and stress of handling upgrades before listing.”

Home improvements include refreshing a home’s interior with a “fresh coat” of neutral-colored paint to hide “the wear and tear from years of normal home use, installing new light fixtures, landscaping of front and back yards; and installation of a new tankless water heater.

Sellers of a property can then access Properly Polish powered by Jiffy, which contains a list of recommended home improvements. Once a job is selected online, the job is then completed in about a week, according to the two companies.

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VIP-VTRM Red Carpet: Fortunately, pandemics do not mutate in the virtual world, which is a bonus for Mississauga-based NEEZO Studios, the creators of LiveSiteTM, a virtual sales app that “gives homebuyers the exact same user experience as in the world. sales center ”.

The company, which was part of the development team for the HGTV The Property Brothers series – the furniture and props flyover scenes in each show were the work of NEEZO – has created an app that helps homebuyers explore and compare 2D or fully furnished 3D floor plans and filter selections by unit size, geographic location and number of bedrooms.

It also offers them the opportunity to observe the development from day to dusk to assess the sun / shadows, to check the amenities in the area and how far they will be from their new home and, in the case of a condominium project, explore building amenities.

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The company’s latest app is Red-Carpet VIP-VTRLM, which contains a series of interactive touchpoints for users to download, listen to or view 3D elements of the sales center.
The app, which this month won gold in the 2021 National Association of Home Builders awards competition, was created out of necessity during the pandemic, company founder Marvin Maalouf said. professional electrical engineer by training.

“As with any red carpet event, you have to RSVP to access it, which is also expected for a builder’s pre-launch,” he says. “Now it can be offered virtually. “

SaleFish: This software suite is aimed at home buyers as well as developers, buildings and residential real estate agents.

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For buyers, SaleFish “provides a website that allows them to browse, select and buy a home online,” the company says, and as for sellers, they can use it to digitally centralize all documents, capture electronic signatures and examine floors. plans with buyers.

“Whether it’s high-rise condos, stacked or standard townhouses, or single-family homes, there is a significant demand for giving buyers the ability to buy online,” he says.

“After COVID, this will continue to be imperative for a builder’s success as many buyers, and especially investors, show a preference for buying online. Sales centers will still be important to some buyers, but this can no longer be the only method of selling residential properties. “

Rick Haws, co-founder and president of SaleFish, defines the company as a real estate transaction software company that thinks about “accelerating and advancing in terms of new features, improved efficiency and more. simplicity “.

When asked if this was a learning process for SaleFish, he said yes, but “we’ve been developing our product for over 15 years. “Time and experience have resulted in simplicity and simplicity provides value and reduces the learning curve.”

The price, meanwhile, depends on the features used and can range from $ 5,000 to $ 50,000.

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