HYDERABAD: With the advancement of technology and prominence of social media, industries are constantly evolving with each passing day and the real estate industry has been at the heart of this change. Gone are the days where people would spend months venturing to different parts of the city in search of an open plot or residential complexes, negotiating prices and finalising a location. With the influx of Internet realty portals, the dynamics of the real estate industry has changed, as people can now find the list of residential houses/plots in specific areas within a particular budget.
With the conception of mobile technology, realty portals have also launched property Apps for mobile users, who can now browse through different available properties on-the-go.
“One of the things that mobile technology has changed for the better, is the property search process. Over the years, home search has evolved from traditionally being broker/word of mouth to online property search. Today, mobile solutions are taking a revolutionary leap in helping buyers get home. Property search via mobile devices has witnessed a significant uplift in the last six months both in terms of traffic and leads,” explains Muralikrishnan B, COO, Indiaproperty.com
To put things in perspective, a study by Indiaproperty.com reveals that in January 2014, mobile search for homes constituted 10 per cent of the property seekers, which in May stood at 40 per cent.
With the convenience of user-friendly Apps and responsible website designs, property searches through mobile has grown three times faster than desktop. While 60 per cent of the property search on desktop is done during office hours, property search on mobile devices is consistent throughout the day, the study stated.
According to the study, young property seekers are more active on mobile. Young buyers aged between the 18-34 years have higher preference (69 per cent) for property search via mobile devices, while majority of desktop users tend to fall in the 25-52 age bracket.
The study also noted a higher engagement by woman buyers, with 54 per cent women searching for property on mobile compared to 46 per cent men.
“Times have changed and it’s important for all of us to evolve with the times. Online real estate and mobile applications are good for the real estate industry and must be encouraged as much as possible,” asserted Jaiveer Reddy, managing director, Ashoka Developers and Builders.