Digital Technology in Real Estate Transactions

Chin, Fiona Haw Yee (2024) Digital Technology in Real Estate Transactions. Final Year Project (Bachelor), Tunku Abdul Rahman University of Management and Technology.

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Abstract

The “Digital Technology in Real Estate Transactions” study examines the adoption of technology in the real estate market in great length. The study examines the effects on this industry, taking into account both difficulties and opportunities, as evolving technology disrupts traditional methods of doing things. Innovation-driven PropTech is fundamentally changing how real estate functions. The major objective of this study is to figure out how digital technology affects real estate transactions by attentively examining their complexity, variety, and significance. The study attempts to highlight how technology and real estate have come together to shape the market by closely investigating these variables. The study's objectives and research questions, which are intended to shed light on how virtual technology affects real estate transactions, are closely linked. The study used an effective strategy for achieving these objectives, including extensive data collecting and detailed analysis. Detailed explanations demonstrate how the real estate business is depending more and more on technology to collect data, demonstrating how crucial this role is growing. People in various real estate jobs frequently mention how helpful and widely used technology is, confirming its ability to bring about change. The research also examines a number of contemporary technologies related to real estate. These include virtual property tours, digital marketing, drones, smart house technology, real estate listing systems, artificial intelligence (AI), and seamless cloud connectivity. Each of these technologies has become well-known for altering how things are done and streamlining procedures. These technologies equip real estate professionals with the means to streamline operations, enhance customer interactions, and boost productivity. The study emphasizes how crucial a role digital technology plays in real estate deals. All agree that it can expedite transactions, cut costs, increase transparency, and guard against fraud. The study, however, has limitations. The findings are valuable, but the relatively low response rate may limit how well they may be used in a wider context. Future research should include a wider, more diversified set of participants from the sector to get around issue. The extensive questionnaire used in the study may also have had an impact on the calibre of the responses. The accuracy and depth of the data may be increased by streamlining the questions and increasing participant involvement. The study "Digital Technology in Real Estate Transactions" is a thorough investigation of the relationship between technology and the real estate industry in the digital age. The study provides important insights into how digital technology might alter the industry and direct decision-making in real estate transactions by carefully addressing research objectives and aims through in-depth data analysis.