It’s about time the real estate sector undergoes the tech revolution. After all, it’s one sector that has resisted change for a very long period, despite the need. Buying real estate is anything but easy. You have to go through heaps of paperwork often required to sign in person. Not to mention, keeping track of the entire process is a full-time job in itself. But all that struggle may come to an end now. Thanks to more simplified online procedures, several new mobile apps have hit the scene. Everything is within the palm of your hand, from virtual home staging to fast closings, customized mortgage, and debt management.
Mobile Apps Changing the Real Estate Market
The real estate market is undoubtedly changing. Let’s look at the top four androids/iOS apps at the forefront of this change.
Lenda is a fantastic app for closing. It’s poised to become a game-changer for homebuyers who want to lend a home as soon as possible. According to the CEO and Co-founder of Lenda, Mr. Jason Brand, the company has perfected a 5-day closing procedure that puts the average closing times of the industry to shame. The app uses technology (e-notaries and webcam signatures, etc) to underwrite all the credit & financial data in real-time. This process saves time as well as money for the buyer. It helps them complete their home loan approval process in 30 minutes instead of the standard 2 weeks wait for the banks. Not just that, Lenda produces these loans at a fraction of the cost, saving precious funds. On average, the company claims to save 50,000 USD per loan.
It’s often very hard to visualize yourself in your future home, especially if it’s still filled with the previous owner’s furniture, home aesthetics, décor, and other personal belongings. That’s where curate lends you a brush. It’s a newly released augmented reality Android app. Developed by Sotheby’s International Realty, the app intends to help you visualize your future home the way you want it to be. Curate lets you place furniture and other décor throughout the place virtually. You can choose different items in different shades and colors. What’s more, the app lets you shop for many of the products online right from the app’s shopping interface. Unfortunately, the app is currently only available for Android devices. However, the developers are planning to release it for iOS very soon.
3. Arrive Home
When trying to sell or buy a property, it’s often very hard to know about the market trends and trustable agents for a bit of good advice. Arrive Home makes this information readily available to you. No, it’s not an encyclopedia. Even better, it’s a real estate agent’s hailing service. The app gives you a live map of all the available real estate agents in your area or nearest town center commercial area. You can contact them with a single click of a button, ask them questions about your situation and learn more about a property. What’s more, you can even go on to schedule a showing with a suitable real estate agent in your area on the spot.
Knock is an excellent app for selling and buying a home at the same time. It essentially manages the process of trading in their older home for a new one and makes it seamless. It works simply by helping sellers find their new homes. In the meantime, it gets them prequalified for a loan. After that, Knock purchases the new home with an all-cash payment and moves them there. The user then has to manage the cost of up to 10,000 USD of repairs on their old property to get a better rate and list it on the open market. When the old property sells, Knock then transfers the new home to the user along with the mortgage and gives them the difference minus any additional repair cost, financing charges, and 6 percent commission. Half of this commission goes to the buyer’s real estate agent.
Whether you live in a town center commercial area or the rural suburbs, these apps are sure to change the way you buy, sell, mortgage, and manage properties. What do you think about technology changing the real estate industry? Let us know your thoughts in the comments section below.