Sep 25, 19By Rizza Sta Ana

Heard of constru-tech? How about RE-tech? If you're scratching your head, don't feel like you've missed something. Those monikers read like make-believe words but will soon be the latest keywords in the real estate market.


Construction and real estate maybe some of the last holdouts when it comes to fully embracing technology. Some market players have already started integrating technology in aspects of the real estate lead and sales funnel. But an industry study showed only 8 percent feel they have hit leading-edge status when it comes to tech, and a little over 20 percent are slowly incorporating technology in their operations.


Enter the disruptors who will help them take the leap to the next level of performance and efficiency. Andre Mercado, CEO of Signet Properties, is one of the leaders of the charge.

 

Joining the Tech Revolution -- One Step at a Time


Construction and real estate startups have an opportunity to match -- and maybe even surpass -- the tech powers of the finance and agricultural industries, both of which are using big data for an array of processes. From the construction site to the office, companies can differentiate themselves from competitors through tech innovations.


Signet Properties is the latest real estate website that aims to improve the online property hunting and investing experience. Established in 2018, Signet Properties features technologies that innovate how real estate buyers search and verify real estate information to bridging communication gaps with brokers. Some of its laudable technologies include interactive 360-degree aerial views of featured Projects in Metro Manila, a growing database of Project Pages embedded with model units viewable in 3D, mortgage calculator, and strategic map integration courtesy of its partnership with popular web and mobile service Sakay.ph


Mercado and the Signet Properties team found it wise to adopt technologies into its product and service offerings. According to the World Retail Banking Report 2017, two out of three of the industry's consumers use technology, and about 80 percent believe it changes their experiences for the better. Real estate companies eager to improve their processes and products and capitalize on the latest technological advancements can start with these strategies.


There's an app for that


So how will technology help the tradition-strict construction and real estate companies? We list the following innovations real estate and construction companies can take advantage:


1.  Customer relationship management platforms

Customer relationship management platforms or CRMs centralizes interactions between clients and service providers. Having a central area to monitor, manage and determine not just user interactions but also internal processes promote instantaneous information exchanges and eliminating needless gaps in decision-making. Capturing interactions are often real-time too, so decision making can be done quickly without losing engagement opportunities that could quickly turn into sales or business wins.


2. Automated building tools

Forward-thinking construction companies are moving towards the commercial viability of 3D printing. 3D printing essentially allows users to build three-dimensional objects from a computer-aided design model. The success of the application of this technology encourages companies who do not have the capital funding and/or manpower to make not only livable homes but also properties that can easily rival a stylish townhouse for sale.


3. Internet of Things

Automated air-conditioning systems? Home virtual assistants like Amazon's Alexa connected to your WiFi-ready appliances? Internet of Things is slowly helping homeowners manage their household's repetitive tasks without needing to train someone to do it. A home connected to the Internet of Things is also attractive to the younger generation, who rely on their smartphones to manage things at home despite being busy.


4. Online marketplaces

Since time immemorial, the homebuying process largely involves face-to-face interactions between prospective homebuyers and real estate agents or brokers. The overwhelming ratio of homebuyers to registered real estate agents and brokers make it impossible for the homebuying process to be smooth and without wasting each other's time. Online marketplaces are the next-level version of listing websites. Interactions between homebuyers and real estate agents or brokers are value-adding to each other as the online marketplace increase consumer choice, improve efficiency and market price competitiveness.

 

The world is changing rapidly and business has to adapt to that change. And with the shift in tide in the real estate industry, exciting things are bound to happen as technology progresses.

 

Navigate the hottest real estate neighborhoods in Manila! Simply visit SignetProperties.ph and use our interactive 360 views.