How Does Technology Come Into Play In The Real Estate Scene?

The role technology plays across all spheres globally cannot be overlooked. From easier financial transactions to better network connectivity of people around the globe; how has it transcended into the property market?  The property market in Nigeria traditionally operates in a conventional manner, where buyers physically inspect properties and purchase land directly from local land grabbers, known as “omo-onile”. The monotony of property ownership is quite frustrating because little flexibility comes with it.

What Has Changed In Recent Times?

As days go by, it has become essential to incorporate easier ways to ensure people have better accessibility to property ownership in Nigeria. Navigating the challenges posed by middlemen can prove financially draining and stressful. However, this is precisely where technology steps in. Beyond its impact on other industries, technology is rapidly cementing its position in the property sector, thanks to several innovations introduced in the Nigerian Real Estate market. But how exactly is it revolutionizing property ownership in Nigeria? This will be elucidated in the following sections

Is Technology Making Property Ownership Seamless In Nigeria?

People commonly refer to the link between property and technology as “PropTech”; this innovation has made property ownership seamless and hassle-free in Nigeria. Some of these include:

• Virtual Tours
• Virtual Property Listings
• Incorporation of Smart Homes
• Introduction of Apps
• Automated Payment Options For Properties

Is Property Technology The Future of Real Estate

Technology is revolutionizing property ownership by introducing simpler methods such as virtual tours and real estate apps like Buildbay App, where you can buy land online. This has significantly streamlined real estate processes. The term “Property Technology” is rapidly gaining traction in Nigeria, with startups like Buildbay and BuyPro democratizing property ownership nationwide. Watch out for the numerous ways property technology companies will drive a massive shift in the Real Estate scene in a few years.

All In All

Technology plays an undeniable role in property ownership, and with the continuous increase in innovations, property ownership through property technology is here to stay.