– Handbills were the main advertising media for buying/selling properties in the past
– Property trade has become technology-driven at present
– Property trade in Digital 4.0 Era emphasises on technologies which optimise consumers’ benefits
[Special Scoop] The trend of property trade in Digital 4.0 framework has become the main entryway to reach consumers, whom the latest technologies – chat bots, online bookings, Cashless Society, and AI – help facilitate in most transactions, opposing to the traditional way of using handbills which in many occasion were inefficient.
Property Trade without technology in retrospect
Many people can still recall clearly the time when everything operated manually, the time when, with the absence of technology, a common means of property advertisement was putting handbills on electric poles, information boards, or even billboards in case of agencies.
Certainly, the method revealed several flaws: credibility of the seller, clarity of the information, or the price that often didn’t correspond to the situations of the market. Incidentally, a great number of fraudulent deals had prompted the authorities to solve the problem and, with an aim to protect consumers’ rights, they warned citizens that one should go to observe the actual property before deciding to make any purchase.
Looking back, it seems like a troublesome and complicated matter to buy or sell such properties, whereas now, all the steps can be completed by our mere fingertips. For example, condo units now can be booked via developers’ websites, an ideal home on a desired location can be sorted easily on real-estate websites, or even contacting the property owners or agents can be done at home in front of a computer.
What is Property Trade in Digital 4.0 Era?
As a matter of fact, the way consumers purchase properties has completely changed from the past. Everything is becoming technology-driven and online-based. Consumers, especially in recent years, choose to search and obtain information via internet because it’s much more convenient and time-saving. For this reason, investors and developers have shifted the focus to online channels where consumers can be reached in a broader spectrum – and, of course, consumers also use this channel to sort the list of properties and thus making a quicker decision.
Property Trade in Digital 4.0 Era can be further elaborated with a few of examples.
1. Chat Bot – an innovative chat box that automatically provides solutions or any inquired information
2. Online Booking – a new custom of booking where customers easily reserve units online via developers’ websites or applications. The method often comes with promotions and privileges. In case of VIP rounds, privileged customers also get the chance to book first
3. Cashless Society – conforming to the government’s economic model 4.0 that aims to move towards a Cashless Society where products can be purchased via scanning bar codes. This extends to down payments of properties as well.
4. AI – in 2018, robotics starts to be involved more in real estate activities. For example, Sansiri’s robot Saen Dee has been invented to facilitate residents, while Ananda’s subsidiaries’ property management involves the use of PropTech and AI as the main drivers.
Not only the two behemoths are investing in robotics, DDproperty has applied AI into the company’s website and application as well. DDproperty has recently redesigned the website to a completely new look as the company shifts the focus towards a technology-driven business model. The AI will present information and services that match customers’ personalized needs, and analyse users’ behavior to deliver contents and properties they’re interested.
The changes in real estate towards online platform is not only about digital marketing, but also the convenience and benefits of the consumers as summarized mainly below.
1. Raise the standard of property trade (higher credibility)
2. More channels and options to purchase properties
3. AI innovation enables quicker and easier property sales
In spite of many things becoming so technology and innovation-driven, one need to be wary of potential dangers. The advancement in technology must come with high security and stability. Surely we need to keep an eye on, but right now, enjoy the fruition of this tech-savvy era.
This article is written by Araya Siripyak, Senior Digital Content Producer at DDproeprty.com. For more information, please contact firstname.lastname@example.org
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