Technology has made our lives a lot easier in particular allowing us access to information and data at the touch of a button. This has affected a number of sectors in particular the estate agency and conveyancing industry, as clients now have access to a range of properties further afield in order to increase their property portfolio without leaving the comfort of their armchairs. Let’s see how technology has changed the home buying experience and how property conveyancing services are working in new ways to address these changes.
Speeding up the buying and selling process
Financing buying or leasing a property whether commercial, residential or retail can be one of the biggest hurdles and used to be a slow process. Getting all the documentation together and lodging the relevant applications with financial institutions and Land Registry, was a minefield of paperwork that manually had to be collated, signed and sent to the required departments. Property conveyancing services who have kept up to date with the change in technology are registered with PEXA Australia’s largest online property exchange network. They can lodge documents with the appropriate Land Registries and also complete financial settlements online.
This really has to be a great step forward because getting in the car and driving to see a property takes time, money and effort. These days with the leap forward in virtual reality technology and 360-degree photographs that can be sent to a smart phone, all that has changed. If you are considering developing your property portfolio on a commercial basis where accessibility by car may be a problem- investing in marine berths for example, getting good quality digital imaging really gives a feel for the location and property you are buying. A number of estate agencies also provide a virtual tour of residential properties, so you can spend an hour or so virtually walking around a number of developments that would have taken a couple of days to actually visit.
Less intrusive surveying methods
Laser scanning devices are used across a number of sectors (think about the daily shop, scan and pay in the supermarkets) and the home buying experience has also benefited from this technology. Laser scanners can quickly and unobtrusively scan rooms, buildings, commercial sites such as car parks and retail developments, in order to make detailed and accurate floor plans. This is all done without causing a disturbance to the current residents or users of the property and the data then used to create 3D or 2D plans. Property conveyancing services can use the information to get spatial data of these properties when and wherever they need it, as well as get the information quickly and securely to clients or other key stakeholders. It also uses less paper and printing technology so is kinder to the environment.
Tracking your purchase via the smartphone
Walk down any street in Melbourne and the love of the smartphone is evident with most people keep their eyes on their smart devices. Combine this with the property market, and the home buying experience has seen a rise in the number of property purchasing tracking apps. Before the use of this form of technology, a purchase would be monitored through telephone calls, emails, appointments with the relevant individuals. Nowadays, real estate sites let everyone who is involved in a property sale, see what the progress is at one click of a button.
So, when choosing a property conveyancing service, make sure they are fully up to speed with all that technology can offer to ensure you get a better, faster and reliable service.