{"id":522,"date":"2019-08-12T04:54:41","date_gmt":"2019-08-12T04:54:41","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=522"},"modified":"2024-01-18T14:26:02","modified_gmt":"2024-01-18T08:56:02","slug":"in-the-decade-of-digitization-how-real-estate-has-transformed-into-a-sector-of-possibilities","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/in-the-decade-of-digitization-how-real-estate-has-transformed-into-a-sector-of-possibilities\/","title":{"rendered":"In the decade of digitization how real estate has transformed into a sector of possibilities"},"content":{"rendered":"\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p> <em>\u201cWe always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten<\/em>.\u201d -Bill Gates <\/p><\/blockquote>\n\n\n\n<!--more-->\n\n\n\n<p>It\u2019s hard to believe that 2007 was 12 years ago &#8212; Facebook was still competing with MySpace, Amazon was presumed to be an online bookseller, and iPhone had just released. Then, we used to trust bricked stores, had no price comparison services and eventually relied on large corporate\u2019s mercy for considerable discounts. <em>How did we evolve from that \u201cprimitive\u201d world of shopping to a consumer experience we have today in this digital age?<\/em> The emergence of digital technologies has accelerated the consumer\u2019s decision journey i.e. we went from a linear retail-centric model to today\u2019s iterative digital-focussed model of consumer behavior.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/in-the-decade-of-digitization-how-real-estate-has-transformed-into-a-sector-of-possibilities\/#The_Seismic_Shift_in_Real_Estate\" title=\"The Seismic Shift in Real Estate\">The Seismic Shift in Real Estate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/in-the-decade-of-digitization-how-real-estate-has-transformed-into-a-sector-of-possibilities\/#Stable_Schemes_and_diverse_options_in_properties\" title=\"Stable Schemes and diverse options in properties\">Stable Schemes and diverse options in properties<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Seismic_Shift_in_Real_Estate\"><\/span><strong>The Seismic Shift in Real Estate<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Talking specifically Real Estate; Digital age has created a seismic shift, indicating that at least 44% of buyers today start their home search online. With a continued influx of Millennial buyers (expected to multiply by 2x till 2021), tech-enabled real-estate platforms have become a focal point of search, comparison, inquiry, and initial level discussions. Consumers are now more in control of the process, as the elimination of traditional gatekeepers of information (agents\/brokers) has given rise to Millennial or young\/Gen Y (born in the 1990s to 2000s) buyers. The largest group of home buyers now are Millennials, accounting for 35% of sales as compared to 16% of Gen X buyers.\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Restoration of Real Estate into the second-largest industry in India<\/strong><\/p>\n\n\n\n<p>Since relevance is the key principle of digital advertising, the real estate industry has drawn significant benefits from this. The base objective of digitization i.e. refined targeting has led to a more informed and a typical consumer. Now, classification of an appropriate property is easy, budgets are more managed (several EMI schemes or discounts), property features are more coherent to buyer\u2019s needs, agents have matured into trusted advisors, home buying process have become comprehensive and diversity in schemes has magnified consumer-friendly options.&nbsp;<\/p>\n\n\n\n<p>The transition of traditional selling into digital selling has overwhelmed buyers with more contrasting options. 52% Millennials,  and 48% of Generation X have zeroed on their desirable properties through tech-enabled platforms, according to the report created by PropertyPistol.&nbsp;&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stable_Schemes_and_diverse_options_in_properties\"><\/span><strong>Stable Schemes and diverse options in properties<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>1 BHK, 2 BHK, 3 BHK, and RK are now preferred over big houses and villas. Easy approachability and affordability of this property standard, cumulative surrounding options&#8211;like schools, parks, clubs, workplaces, and markets are few dominant determinants that influence purchasing power. Along with increased visibility of smart property options, the agent\u2019s ability to become more informed, and a trusted advisor has also supported the surge of real estate industry in India. Every bank&#8217;s response rate to <a href=\"https:\/\/www.propertypistol.com\/loan-service\">home loans<\/a>, easy accessibility to home schemes, and flexible payment options have also promoted the advancement of real estate.\u00a0<\/p>\n\n\n\n<p>In short, youth has created solutions that are biased by technology which has commanded innovative resolutions further contributing to the increase in the economic value of India. <\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#e0b98f;font-size:12px\"><em>Disclaimer: The views expressed above are for\ninformational purposes only based on industry reports and related news stories.\nPropertypistol does not guarantee the accuracy, completeness, or reliability of\nthe information and shall not be held responsible for any action taken based on\nthe published information.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cWe always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.\u201d -Bill Gates<\/p>\n","protected":false},"author":2,"featured_media":552,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[14],"class_list":["post-522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-real-estate","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - 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