How Technology is Disrupting Real Estate & It's In The Buyer's Favor Thanks to digital technology, the real estate market is becoming a more comfortable place for the buyer to navigate

By Srivatsa KR

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Justin Havre
Justin Havre

The real estate market is one of the oldest brick and mortar institutions, and interestingly it is currently undergoing a new technological evolution. The act of buying and selling property has been gradually migrating into the digital world. In 2019, The National Association of Realtors recorded that 78% of Generation X found their home on a mobile device. Statistics like these don't surprise real estate experts like Justin Havre. Havre currently heads Canada's top real estate team, Justin Havre & Associates RE/MAX First. According to Havre, proptech is creating a much better market for buyers; here, he shares three trends that give the buyer an advantage.

Virtual property tours

Virtual property tours are one of the biggest technological advancements in the real estate market. Havre's real estate team has been offering this service for quite some time, and in the age of social distancing, it is a service that has been flourishing. A virtual tour allows potential buyers to explore properties privately. According to Havre, the option of a virtual tour offers up many positives for the buyer, he says; "3D virtual video tours can prevent any snap decisions that can happen while physically visiting a property and allow more time to research a property privately."

Drone technology

The use of drones to aid in the purchase of property promises to see a growth in popularity as its technology evolves. Drones are currently restricted to operating in an open area and can not navigate inside of a property, but drone technology is being constantly updated, and it may not be long before compact drones can maneuver effortlessly inside of properties. Until then, drones offer a cost-effective way to gather as much visual data as potential buyer needs. Havre says of the advancements in drone technology, "I believe that the assistance that drones can offer a buyer will soon be limitless; their ability to give a detailed look at a property is already a priceless tool to a potential buyer."

Artificial intelligence

AI is here to revolutionize every aspect of businesses, and real estate is no exception. Real estate firms are leveraging Big Data and AI to get more insights, while it translates for buyers as better options and higher transparency. "We live in a digital world of convenience, and AI has the potential to take away redundant tasks besides extending better services management."

Srivatsa KR

Start-up enthusiast & Blogger

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'Everyone Can Profit From It': What Is DeepSeek? China's 'Cheap' to Make AI Chatbot Climbs to the Top of Apple, Google U.S. App Stores

DeepSeek researchers claim it was developed for less than $6 million, a contrast to the $100 million it takes U.S. tech startups to create AI.

News and Trends

I'm Very Bullish About Our Growth in India: Zoho's Sridhar Vembu

The CEO and co-founder also said that the SaaS major saw 37% growth in India in 2022 while announcing the launch of Cliq Rooms, a smart conference rooms solution on Monday

News and Trends

Navi Finserv Strengthens Lending Position with INR 1,200 Cr Fundraise Post RBI Ban

This financial comeback includes one of its largest securitisation transactions to date, securing INR 295 crore in a deal rated AAA by an undisclosed credit agency.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

Senior Citizen-Focused Geri Care Health Secures USD 13 Mn Funding from InvAscent

With the raised funds, the chennai-based startup aims to expand Geri Care's services across key cities in Southern India, including Bengaluru, Hyderabad, Kochi, and Coimbatore.