Many real estate professionals fear a coming inventory shortage. A survey of 110 brokers showed that over forty percent of the respondents believe that home inventory was the biggest issue for the real estate market in 2019. Even more, 25% think that a recession is imminent.
Keeping up with Tech
Fortunately, there are many ways that brokers can stay ahead of a low inventory market. By leveraging the latest technologies, real estate professionals can locate additional listings for buyers and simplify the purchase process while instilling confidence in prospective clients.
The right tech breaks down barriers that keep consumers out of the market. In a downturn, only innovative and tech-driven brokerages will succeed.
Propy Offers an Edge
Whether the real estate market is hot or cool, purchasing a home is often quite a task. The procedure may be marred by miscommunication between parties, mounds of paperwork, or middlemen who cost more than they contribute. Propy is a blockchain-enabled real estate system that simplifies the process for brokers and clients alike.
Propy addresses the low inventory issue by providing buyers with an aggregated list of local homes and international properties. Furthermore, the transaction platform saves on paperwork and fees by allowing parties to complete an entire purchase online. The agreement is then encrypted and stored on a blockchain along with other documents like the title report and deed. Because this information is synched to the chain, there is no chance for fraud – neither during the purchase process nor afterward.
The Modern Broker
2019 may yet be the year of low inventory, but even in good market conditions, brokers would be wise to check out the latest tech. A platform like Propy not only helps parties close more efficiently, but it also attracts prospective clients by demonstrating that a real estate transaction can actually be a pleasant and seamless experience.