Why Look for a Proptech Company Before Buying a Home in India

The real estate industry has witnessed the profound effects of the digital revolution. It was slower than other sectors to adopt this transition, but with time more and more businesses are recognizing the value of this technology. It is not wrong to say that COVID-19 did play a role in this. Are you still confused about whether you should look for a proptech company before buying and selling a house in India today?

Well, here are five reasons to help you decide whether looking for a propetch company is a safe bet for you or not!

Why A Proptech Company Can Be A Safe Bet Before You Buy/Sell A House

Here’s why a proptech company can be your safe bet before you buy or sell a house in India. It:

• Improves your market research
• Enhances your buying experience
• Brings transparency across payments and communication
• Reduces the possibility of fraud

Let’s find out more about these reasons in detail!

Improves Your Market Research

A proptech company improves your market research before you buy or sell a property. Here’s how it can make a difference in your market research:

• It allows you to understand price trends in India.
• It enables you to check the valuation of a property before you buy or sell a property. It ensures you do not overpay while investing in a property or sell yourself short while selling your property to a buyer.
• It lets you track the development of properties and buying and selling opportunities.
• It helps you determine if there’s a risk in investing in a property.

Enhances Your Buying And Selling Experience

Gone are the days when one would need to find ways to look for properties or buyers.

A proptech company gives all buyers and sellers a single-stop platform. It lets sellers list their properties on the platform and allows buyers to find properties that suit their needs. All in all, it solves the needs of both buyers and sellers from a single platform.

Let’s say you wanted to buy a property. You may have a few priorities. A proptech platform allows you to set filters and show properties that match your criteria. Not every property is for you, but the one suitable for you will appear on your screen. It helps you narrow down your choices quickly. You have a great experience while looking for a property you like right from the comfort of your home at the end of the day.

A real estate based tech platform eases the process of selling too.

Let’s say you were to sell a property. You can add all the basic details of the property and your contact details. The buyers looking for a property similar to yours will contact you if they are interested and ask any specific questions they have.

Brings Transparency Across Payments And Communication

A proptech company brings transparency across payments, processes and communication. It eliminates any middlemen having misaligned interests in your property’s purchase or sale process. It connects buyers and sellers with no intervention from brokers.

A platform from a proptech company ensures you get secure contact with the seller, and your details are not shared with any seller until you want to share them. It establishes genuine communication between you and the seller or vice versa. It assures you that the process is transparent and you are not overpaying intermediaries.

Reduces The Possibility of Fraud

A proptech company stops you from investing in properties that might not give you good returns but also reduces any possibility of fraud. It becomes a barrier to keep any fraudulent buyer or seller away.

Here’s how it prevents any fraud:

• It authenticates the phone number of the seller and buyer registering on the platform.
• It analyses the email ids of the seller and buyer.
• It makes sure that the transaction is genuine and not fraudulent.
• It ensures that you only use safe tools for transactions.
• It allows you to trace the ownership of a property.

Automates Documentation and Paperwork Involved In The Process

When you register as a seller on a proptech platform, you digitise the details of your property. It gives your buyers access to all the details of your property that they need. It lets them choose the property they like.

But it does not end there. Let’s say one buyer wants to buy a property from you, a proptech company:

• Reduces paperwork in the process
• Makes sure the entire paperwork process digital
• Saves your time and resources
• Streamlines any brokerage back process

Still Not Enough? Here Are A Few More!

While these five reasons are why the real estate sector is transforming, here are a few more reasons you should consider a proptech company for an informed home-buying experience:

• It paints a clear picture of opportunities and risks based on various factors like geography .
• It forecasts the price of a property, estimates its value, and reflects insights based on its large data set.
• It refines the audience for a property seller and provides buyers with the best offers
• It predicts the best place to buy a new property based on amenities.

The Bottom Line

A proptech company is an authentic source of information for all potential buyers or sellers like you today. It provides you with infrastructure for everything – from increasing the reach of a seller’s property to providing a rich interactive, informative experience. It enhances the transparency between you and the seller or vice versa without any intermediary affecting it.

Real estate coupled with technology provides you with data-driven analysis to make your decisions spontaneously but mindfully. This way, sellers are able to reach their customers, and buyers also win a great deal.