Real Estate Market in the Digital Age: A Review of Technology Trends and Advancements

The real estate industry in India is a dynamic industry that contributes approximately 7-8% to the country’s GDP. The market consists of various stakeholders namely developers, builders, real estate agents, financial institutions, government authorities, etc. The Indian real estate sector is increasingly embracing technology by welcoming real estate apps, online property listings, and virtual property tours. But this industry is still in its traditional form and still extensively relies on real estate agents. Real estate agents offer valuable market knowledge, networking opportunities, and negotiation skills which can save a lot of time for buyers as well as sellers. However, they charge commissions which leads to conflicts of interest and limited transparency. To find real estate brokers or properties in India, you can utilize property websites like Magicbricks, Housing.com, and 99acres, seek referrals from your network, explore local real estate associations such as NAR India, conduct a Google search for local agents, attend property exhibitions or look for local advertisements. The spectrum of technology in the real estate market is still in its budding stage, though it is rapidly growing. Despite its significance in the global economy, the real estate market has not yet taken advantage of the full range of possibilities offered by technological progress. Our review explores how this need for technology in real estate is driving the industry forward. We examine how innovations are changing the way properties are bought and sold, making transactions smoother and property evaluations more accurate.