5 Reasons Pakistan Real Estate Market Moved online
In Pakistan’s real estate business, technology is producing a paradigm shift. The days of using only traditional means to find a new home are long gone. More than 30 million Internet users and 15 million smartphone users in Pakistan. Current statistics reveal that between September 2014 and April of this year, Internet use increased by over 550 per cent, with the total number of 3G subscribers surpassing 11 million. According to market research firm GfK, Pakistan’s electronic device market will expand by 15% in 2015. House hunters are browsing the internet for properties due to the rising availability of online portals, affordable smartphones, and 3G and 4G services in Pakistan. As a result, real estate brokers and developers must adjust their marketing strategies to stay up with the internet revolution.
While in the era of traditional media, we could only keep listings on a temporary scale (once per day, or perhaps once a week for some magazines). Today’s web database allows for near-instantaneous updates, ensuring that agents and purchasers don’t waste time chasing down unavailable homes! Sites that third parties manage. Licenced agents could only access listings for a long time! Thanks to the growth of third-party property portals like Zameen and Lamudi, buyers now have instant access to a national inventory of houses.
Feasible Purchasing Process
Another reason the real estate market in Pakistan is going online is because the entire purchasing process is now more accessible than ever before, thanks to the internet’s revolution in the banking and data industries. Furthermore, what used to take weeks or months, from resolving financial issues to finding the appropriate mortgage to signing documents digitally via “The Cloud,” now takes only days. Furthermore, the pandemic and COVID-19 disrupt the usual selling properties, with open houses postponed and video tours replacing in-person home showings. Individuals avoid human contact to prevent spreading the infection, so purchasing online makes sense. Buying a home from afar might now be an appealing and time-saving option.
It is not possible to overestimate the implication of visual photos. These photographs of your for-sale property, which are effectively the online counterpart of curb appeal, have the opportunity to make or break a deal. Even if your home is well kept, immaculately renovated, and priced to sell, an unattractive online aesthetic will push it to the bottom of the list. Excellent photography has become an important part of the buying process, with some firms even providing aerial footage and virtual reality tours!
Because almost everything is accessible at the touch of a button, mobile devices have made it easy for individuals to buy and sell anything they desire. Furthermore, data shows that millennials and Generation X used their mobile devices to find a home. Again, because the real estate market is so competitive, being on top is essential if you want to be seen in this exciting industry. In addition, real estate companies in Pakistan can leverage mobile technologies to sell their assets and solutions to a global audience through online advertising, email marketing, and brand recognition.
The Purchasing Procedure
Because the internet has changed the financial and data sectors, the entire procedure is usually more accessible than before. From settling financial problems to obtaining the appropriate mortgage to digital signature via “The Cloud,” what used to take weeks, now takes days. Right now, the new coronavirus is causing havoc with home sales, with open houses being cancelled and video tours taking the place of in-person showings. Because people seek to avoid physical contact to avoid spreading the illness, purchasing online makes sense.
The internet has greatly aided the real estate process, and most clients start their searches there. On the other hand, individuals prefer to use an agent because choosing an ideal home appears to be a difficult process for them. Even if the internet assists in the real estate process, a professional usually filter the information. Furthermore, current circumstances have demonstrated that the move of the Pakistan real estate industry to the internet is a positive step for the sector as a whole.