Published on January 16th, 2019 | by Bibhuranjan0
Winnipeg’s Kris Thorkelson, Others Weigh in: Tech Trends in Real Estate
Kris Thorkelson made his name as a pharmaceutical entrepreneur in Winnipeg and has now turned his attention to the city’s booming real estate sector. As the owner of My Place Realty, a Winnipeg property management firm that provides rental accommodation to tenants, Kris Thorkelson says the real estate sector has become increasingly reliant on technology.
With access to a sea of internet home buying sites, people in the market for a home now have all the information they need at their fingertips in order to make an educated purchasing decision.
In turn, this is forcing real estate professionals to reinvent their role in the market.
“I don’t believe agents will become obsolete, but I do think this flux in real estate technology will allow agents the opportunity to become better facilitators by adopting new tech platforms in order to remain relevant,” said Kris Thorkelson.
In agreement, Isaac Olowolafe, the CEO of Dream Maker Realty Inc. believes technology innovations in real estate are actually pushing agents to be more accountable.
Olowolafe further explains, “With data now available online through various websites and apps, consumers are taking that value and power away from the realtor. This is creating more transparency in the industry.”
Technology is not only affecting the way agents do their job, it’s also reinventing how properties are bought, managed and sold. Apps like Casalova, Canada’s first end-to-end real estate rental platform, allows buyers to search for listings, secure a unit and pay for rent – all online.
“When prospective renters or buyers request more information about a property on Casalova, any available online agents are automatically sent a notification,” said the CEO of Casalova Ray Jaff. This alerts the agent to a potential client and is ultimately a great marketing tool.
Speaking of marketing, the online promotion of rental apartments is also influencing the industry. Online ratings and reviews of particular homes and buildings can now be accessed easily by prospective tenants. As a property owner and manager, Thorkelson believes this is another reason why it is extremely important to provide quality service to tenants.
“Property ratings are changing the sector, he adds, which could leave some owners falling behind if they aren’t careful,” says Thorkelson.
In addition, he notes that virtual reality tours, a part of online marketing, are a unique way for prospective tenants to see how a room would look decorated, or how to best utilize their future space.
“Virtual reality is another prime example of how technology is being used to catapult an industry to the next level, Thorkelson adds.
Real estate owners and companies have also been utilizing popular social media networks to promote brand awareness, engage with residents, advertise promotions, and generate leads and website traffic.
It’s safe to say the real estate industry has gone through a revolution since the days of having to phone an agent to get started in the search for a home. The old, traditional methods have fundamentally changed to digital media and technology, and real estate owners and managers that have not adopted these changes, should probably hop on board.