Real estate is known to be saturated with millions of information–both on a client’s part, property data, as well as other data needed to run the business. This is why the real estate industry is uniquely positioned to make use of cloud-based technology to improve in terms of performance, outputs, and overall efficiency.
According to Luis Enrique Coll, a real estate expert, this is how he predicts the future of real estate. There will be a lesser need for storage of information in singular devices, and multiple entities will be able to access information in a cloud database.
Whether it is for residential and commercial real estate, there are many benefits of adopting a cloud-based technology in the industry. Luis Enrique Coll highlights these transformations.
How Cloud-Based Technology Is Transforming the Real Estate Industry
1. Location-independent access of information
One of the best benefits of adopting a cloud-based technology is real estate is the location-independent access to information. Some real estate agents have trouble locating files or other important date needed to be presented to clients if these are not brought using a disk or a flash drive. Additionally, it can be troublesome if there is only a single device which contains all the data that a real estate agent may be needing. The use of cloud-based technology gets rid of these problems, as investors and agents can access information wherever they are.
This is helpful during client meetings when people ask for additional information which cannot be provided by agents on the spot. Through the provision of cloud-based technology, agents can access the data needed to supplement the questions that the client may ask.
2. Schedule-free access to important data
Another hurdle of traditional methods to store data is schedule limitations. For example, if an agent wishes to get information in a computer database of an office, he or she may need to wait for the opening schedule or wait until the next day is the office is closed. This may be troublesome, especially if the agent has clients who wish to meet after-work hours.
Being able to be responsive to clients and their needs is critical as a real estate agent. This is also true in the grand scheme of things when real estate agencies attempt to equip their professionals with the right tools and resources. Having a cloud-based technology helps people to access the information they need at any point in time, with no risk of schedule limitations.
3. Real-time changes can be monitored by multiple entities
If a company owns several properties, each of these properties has their own data. These data can be subject to change due to fluctuations in the market, or agents may be needing to update the information especially if a deal is done.
The traditional way of disseminating this information is through e-mails, advisories, or personal contact which seem very inefficient if you hold a large company with multiple agents selling the different properties. Through the use of cloud-based applications, real estate agents can access a single database and see changes in real-time. This way, they know which properties have updates and they can also inform others by providing new data in the application.
4. Increased reliability of cloud-based tools
Some information cannot be accessed when a certain system is down. It may not be due to a hardware malfunction, but it could be a bug or a virus that has infected the database system.
To avoid this, cloud-based systems are developed to be a more reliable alternative to centralized sources of data. Although some applications require internet access, other cloud-based tools only require the access to a network you are given the permission to have.
5. Data is independent of software and hardware crashes
What happens when a database computer crashes inside a real estate company? Several hundreds of data are at risk of loss, especially when a backup is not done. This is why many companies are considering to apply cloud-based technology in their business because it limits the risk of data loss due to malfunctions and database crashes of a single hardware.
This makes cloud-based tools more reliable compared to single units of devices. Accessing the information is decentralized, which makes it a reliable source of information.
As technology creates waves in many business industries, we can be assured that all of this is for the better. Whether you’re a real estate agent, investor, or a company owner, consider the benefits of cloud-based technologyand see how it can help you in your career or business.
