Author: Mitchell Foster - page 2

3 Technological Innovations That Boost The Real Estate Sector

Applying technological innovations is essential in any business sector that wants to compete strongly in the current context. Technology brings with it numerous advances, tools, and ways of being used. Its use will depend on the characteristics and objectives of the different companies and types of activity. Among them, real estate is a sector in a full renovation.

Programmatic advertising to improve the relationship with potential buyers

Technology allows us to change the way we find and relate to the buyer. There is no waiting for interested parties to come naturally. In addition to not controlling when a particular floor of the online catalog catches your attention, we also do not know what aspect or why the property has aroused your curiosity.

Some tools allow us to control who we want to draw attention to, such as programmatic advertising.

This type of advertising combines:

  • big data, which tells us who is the potential buyer of a property, where it is, and what interests it has.
  • the possibility of geolocating an advertisement to know where and when the people we are interested in contacting the real estate agency.

With these advances, we can segment what kind of people we want to target. Now we know who they are and what behaviors and tastes they have both on and off the network. It is simply about knowing who we want to interact with and focus the form and content of our messages in the best way and through the best channels.

Digitization as technological innovation in the real estate sector

Digitization is a complete process as arduous as it is beneficial for any organization. Real estate is a sector sometimes lagging in this crucial change for the most efficient organizations.

This way of working should be based on the simplest forms and procedures: team mentality and “zero roles” projects.

Real estate agencies are traditionally characterized by the accumulation of papers to carry out any minimum management. The fact that a team is prepared and convinced to work digitally is the first step to offer more powerful experiences.

There are tools, CRMs, and digital managers that allow registering and even carrying out the steps and activities of management related to real estate.

Virtual tours to improve the user experience

Digitization also improves the user experience. And it is that it brings a portfolio of technologies to be able to see the property with realism even before entering it.

Now, there are virtual and experiential tours that allow you to visit the property from home. These are not recorded videos, but rather a connection in real-time with the real estate agency while both take a virtual tour of the property.

These walks have a double objective:

  • The experience of the visit to get a real first idea from home.
  • Being able to make live measurements to check spaces and even make the first decoration and furniture compositions to distribute rooms and rooms.

It is a new way of knowing the house in an agile, comfortable way and obtaining technical data on the spaces. Simultaneously, the person who is directly in charge of its sale can provide characteristic information about the home.…

Do I Contract With A Single Construction Company To Make My House Or For Trades?

There are mainly 2 ways to build a home:

  1. The most common is to entrust all the work to a Construction Company -which will become the Main Construction Company-. This can contribute to its workers and/or subcontract other companies and self-employed workers to carry out the different work items.
  2. If the work is contracted for trades, it is the owner/developer who directly contracts several companies and/or self-employed workers.

In the first case, all companies and freelancers participating in the work depending on the Principal Construction Company. In the second, several companies and freelancers depend on the owner/developer.

Can you save that much by batching?

In most cases, the economic “savings” are much less than what the owners believe.

There are two main things to keep in mind:

  • The price that can be obtained by the main Builder of a subcontractor is going to be better than that which can be obtained by a particular developer who is only going to do one project. In many cases, the contractor’s margin will equal the final price that the developer achieves on his own. Also, in the margin of the contractor, there is planning, coordination, management, etc.
  • The price of the materials also usually varies. When you get a discount on the purchase of a shower tray (for example) of 20%, the Builder will get it off 30%. Also, the construction company will pay 10% VAT on their invoice (if it is the first home), while if you buy the material, you must pay 21%.

Safety and Health at the construction site

Another cost of hiring several companies is the issue of security.

Safety and Health of the different companies

To start, each Construction company must comply with all the applicable regulations in Health and Safety, and in Occudecknal Risk Prevention. Furthermore, it must be complied with both by the company itself (its workers) and by the subcontractors and self-employed workers under its charge.

In other words, this would take care of everything with a single company, including the deficiencies of one of the subcontractors. If you have several companies hired by you, each of them you will have to demand the same as you would demand of only one. Do I contract with a single construction company to make my house or for trades?

Who puts the “common things”?

In work, there are many structures that “everyone will use.” In the absence of the Main Builder, all of them should be put (and paid) by the developer/owner.

It is very easy to tell the Builder that you are “inflating” 20% of the budget of a subcontractor. However, when you count the construction fence’s price, the construction shed with its bathroom, the crane, etc. you realize that in that 20%, there is usually no more than 10% profit.

The coordination of the different trades

With a single construction company, there will be one person in charge – be it the Site Manager or, at least, in charge – of carrying out this coordination. If that figure does not exist because you have contracted the work by trades, you will have to be the one in charge of calling each other, organize them on-site when their works overlap or control that the works are finished to notify the next company of let it in.