WebRTC Set to Transform Real Estate

Posted On September 27, 2019 by Alex Macdonald in Blog

The real estate industry is set to be disrupted by technology. WebRTC will be a major part of it.

Real Estate Industry Poised for Disruption

The real estate industry is famously slow to take up new technology.

Other major types of businesses have been completely disrupted. Online stores have gradually replaced brick and mortar businesses, financial institutions are going branchless, and your transportation options have expanded to patrolling Ubers and Lyfts, electric scooters on the corner, and piles of crumpled up bicycles on every sidewalk.

But in real estate, you still have offices in buildings. Real estate agents have to show you the property you may want to buy. The actual owner of the property is still a participant in the deal.

This will not last. Proptech – the Silicon Valley buzzword for real estate technology – is set to transform many aspects of the real estate business. Technology is going to impact residential, commercial and industrial real estate in a big way, changing drastically the way you buy, sell, or rent a new apartment, a new office, or a new factory.

Real Estate and WebRTC

One aspect of technology that will contribute to proptech is WebRTC. WebRTC allows web and mobile applications to easily embed video, voice, chat, screen sharing, and data transfer.

Real estate firms have previously used technology for listing properties such as on Zillow and Trillio but recently there has been a drive to add financial, appraisal, co-working, and building management technology.

As real estate companies add WebRTC technology they will cut costs, improve efficiencies, expand their markets, accumulate actionable data, and drastically improve the overall customer experience.

Expand Your Market and Cut your Costs with Voice, Video, and Chat

Putting an option to immediately chat or talk with a customer service representative is not a particularly revolutionary idea. For foreign or non-resident buyers and sellers, having the ability to contact a real estate agent at almost no cost is quite appealing.

The high cost of international calls and the struggle to connect with someone of the same language interferes with the customer service that real estate companies are expected to perform. Real estate companies have implemented chatting and voice widgets that correspond to the appropriate language. If you are a mandarin speaker then click the Chat in Mandarin button, if you speak English, click the Chat in English button.

When you add the ability to screen share, it is possible for a real estate agent to give potential buyers a virtual tour of available properties in the privacy of their own (current) home.

Broadcast Your Open Houses

Marketing your residential real estate through an open house is one of the most common ways to drive sales, build a client base, and save time. Now imagine real-time broadcasting your open house to many more people. Potential buyers can see the house remotely and can ask questions at the same time.

Agents have used Facebook Live to broadcast their open houses but using WebRTC can be a much better solution. Using WebRTC components on your website or mobile app secures your brand and keeps your consumers in your brand space. Also, with WebRTC, you can communicate back and forth with your audience in a much more streamlined fashion. Plus, the data you collect — who is watching and for how long — is yours to use and analyze.

Crowdsource your Property Search

Real-time communication technology can also work for buyers and renters not just sellers. Using video conferencing technology while looking for an apartment to rent or a house to buy can improve the experience and make sure you get the best property.

When looking for a new apartment you can share voice, video, and chat with your friends and colleagues. As you tour the property you can solicit opinions and make decisions more quickly and more efficiently.

For a proptech company, it is a major advantage to add real-time communication in their apps to make sure their customers have the best possible experience.

Temasys Can Help You implement Your WebRTC Solution for PropTech

If you’re a real estate company looking to use video, voice, chat, or screen sharing in your web sites or mobile apps then please contact Temasys. We embed real-time communication into any app, any device, and at any scale.

With Temasys Skylink SDKs, you can quickly embed video, voice, and chat engagement into your web applications and mobile apps.

Our Temasys Skylink SDKs are available to try out here. They have been developed so that you can be up and running quickly and easily and are truly cross-platform, with tools for the web, iOS, and Android.

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