Digital transformation in the real estate industry: Turning pain into profit

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The launch of the SMART PROPTECH 5.0 solution

Digital transformation in real estate is necessary and urgent

On the afternoon of August 29, the launch of the SMART PROPTECH 5.0 solution - "Building websites and comprehensive customer management for the real estate industry: turning pain into profit" was held by Bizfly, the top supplier sales and marketing software in Vietnam. It brought technology closer to the real estate market, made transparent the market that is losing trust with customers, and supported businesses to develop sustainably.

In the age of technology as the foundation, all activities and transactions are tied to the internet, including high-value transactions. Customers wishing to buy real estate often learn more about projects, investors, and prices through the internet; some people even carry out their buying process on an online platform. Thus, they highly appreciate real estate agents with a clear investment and visibility online.

The analysis of real estate data to approach, clearly understand customers’ needs, give appropriate advice, and help customers experience real products will also increase their purchasing decision. Therefore, the application of technology and digital transformation in real estate is necessary.

After consecutive virtual land fevers, land prices were pushed up because of the lack of accurate and guaranteed information, taking advantage of the benefits of digital transformation, information digitization also brings benefits in controlling land information. Therefore, the emergence of a data source, where information is publicly available and accurate, will allow the real estate market to operate stably and minimize price spikes. Thus, it is urgent for digital transformation to make the real estate market transparent to regain the trust of customers.

In summary, digital transformation brings great benefits to real estate businesses, reduces transaction and management costs; increases access to market, information, and data; increases the ability to cooperate and connect; increases new business opportunities; and increases the ability to participate in regional and domestic value chains.

Real estate technology trends and prospects

At the event, speaking about the role of technology in the real estate industry, Nguyen Quoc Anh, Deputy Director of Batdongsan.com.vn, said that the pandemic posed many challenges in real estate transactions, making businesses limited in accessing and taking care of customers, reducing operational productivity; real estate brokers had difficulty in finding and approaching new customers and interacting with old customers; and those who want to buy and sell real estate also have limited information and experience when learning about real estate products, lack of interaction with brokers and businesses. These obstacles require technical support for the market to have a chance to develop.

Therefore, many different products are created to solve the problems in the buying process of users.

For example, websites that aggregate information about real estate to meet search needs; VR - AR imaging technology so that buyers/tenants can view homes remotely/view simulations of unbuilt projects; Fintech platform supports loan/real estate investment packages for users; and technology software support brokers in transaction management and execution.

Besides, there are also many products created to handle the problems of real estate businesses. For example, research data services from companies specializing in providing data, market research reports; provision - installation of technological equipment service integrated into housing infrastructure; and software to support brokers in transaction management and execution.

The application of technology in real estate comes not only from startups but also traditional real estate businesses such as Vinhomes, Masterise Homes, Cenhomes, Houze Agent, and OneHousing.

At the event, Nguyen Huu Dung, Director of Web Solution, Bizfly said that the professional - effective real estate website building solution from Bizfly had many outstanding advantages: beautiful, modern, and classy interface; ensuring the correct identification standards, compatibility, and good display on multi-platforms; and integrated technology to enhance customer experiences such as using AI to suggest suitable projects.

Besides, there is a project overview with virtual physical models; experiencing location, utilities, and infrastructure by VR Tour, 3D Tour; viewing sample apartment with 360-degree photos and video; the integration of lead collection optimization solutions; the integration of intelligent interactive solutions; and the integration of effective customer care and data exploitation solutions such as Bizfly CRM, Bizfly Chatbot, Bizfly Email, and Bizfly Loyalty.

Huyen Du, Sales Director of Bizfly said: “Developing customer data is the most important task of every business. Optimizing the customer experiences across all online and offline channels are essential to impressing and retaining customers, thereby increasing emotions and buying behavior.”

The Bizfly representative also introduced to the event the Bizfly CRM solution with full functions of sales, marketing, and management that will solve the problem of customer data management; thereby giving a clear direction for sales, nurturing and care issues.