THE adoption of various technology platforms in selling real estate could potentially reshape the Philippine property sector, according to the Lamudi Group.
In a statement, the Lamudi Group, which is composed of property listing sites Lamudi Philippines and Myproperty.ph, noted that the growing development and adoption of various technologies have a massive effect on how businesses operate, and the real estate industry is increasingly experiencing the same trend.
“Many new and exciting advancements in technology are being developed to make property selling and buying more convenient. These technologies narrow the gap between real estate sellers and buyers,” the Lamudi Group said.
One of these advancements that has been incorporated into property selling is the use of smart listing platforms.
“Over the last few years we have seen the proliferation of online real estate listings platforms, most of which follow generic designs and offer good content,” Lamudi said “This is a boon to consumers, who now can do their initial selection of properties for rent or sale without having to leave the house.”
Lamudi noted that these property listing platforms help property-hunters narrow down their initial property search by offering details of properties such as location, property owner info, pictures, and price.
Aside from property listing sites, another technology that is making its way to the property selling business is the use of virtual reality(VR) technology, which the Lamudi Group has recently introduced on a limited basis.
VR technology is a special tool used to capture 360-degree panoramic images of a property, which are then stitched together to create a “virtual tour.”
“This allows homebuyers to ‘walk through’ a property to check it out as though they are actually inside it, clicking at certain spots on the images to view certain details up close,” Lamudi said.
Lamudi said it expects the new offering on its websites will increase viewership, as virtual tours will give property-hunters a better online experience.
In line with pushing for the use of technology in property-selling, the Lamudi Group recently announced that it will hold the first Lamudi Philippines VR Expo, to be able to give property buyers and sellers first-hand experience in the use of VR in real estate.
“Guests will experience how VR is making real estate more exciting as they use VR goggles and touch-screen monitors to explore various properties built by some of the country’s top developers,” Lamudi said.
The expo will be held on September 3 and 4 at the Bonifacio High Street Activity Center in Taguig City.