Online Property Portals
Over the past many years, we noticed several fraud cases in the sale and purchase of real estate properties in India. Even today, many such cases still wait for court judgments. To address this, the RERA (Real Estate Regulatory Authority) Act regulates the Indian real estate market and therefore controls misleading and fraudulent activities.
The state governments encouraged transparency in real estate deals. To know more about the rules imposed on such activities, visit a trusted online property portal. In the past decade, many efforts shaped a transparent real estate market. This informative discusses different ways to maintain transparency in property trade in India.
How Important Is To Keep Transparency On Online Property Portals?
Online property portal has become one of the major sources of information and the latest trends. Today, people trust on these sites what they post, share, and showcase. It is vital for a virtual portal to keep the utmost transparency to build trust and loyalty. Transparency encourages fair and ethical real estate trade and practices. You can invest in 3BHK flats in Zirakpur through these portals.
In the absence of transparency, fraud, misleading, corruption, and disputes can take place. In the past many decades, buyers and sellers have been victims of such unethical practices. Therefore, it is necessary for a builder, developer, real estate agent, or property dealer who has an online portal to keep things updated and transparent.
Different Ways To Ensure Transpancy In Real Estate Deals Through Online Property Portals
The online property portals ensure transparency between all parties during any real estate deals. The ethical builders and developers provide Agents’ rantings (AR) & offer Virtual Tours (VT), systematically guided document upload options, technically upgraded & incorporate Blockchain to manage safe & secure digital payment transactions, and offer 24/7 online payment options backed by the government. The listed projects are registered under the RERA Act. The project progress and updates are made available following a real-time mechanism. Being a host of the property portal, you can follow different ways to keep transparency.
1. Agent & Project Registration
Virtual real estate portals allow agents to register online and list the latest projects under legal authorities like RERA. Every real estate agent, builder, or developer must register. The Act also requires registration of every new project to ensure authenticity and legal compliance. When investing in commercial properties, land, or 3 BHK flats, always cross-check the property’s registration.
2. AR/VR (Augmented & Virtual Reality)
The AR/VR technology allows business owners to upload HD-quality visual presentations of available real estate projects. As a result, buyers and investors can take a virtual tour of the actual properties. This gives them assurance that the property they are seeking is real and nothing is hidden. Moreover, augmented reality and virtual reality mechanisms make it easier for realtors to showcase their products in the market with advanced audio/visual presentations.
3. Blockchain Platform
The new way to do instant money transactions using digital currencies like Bitcoins and Binance Coins has become possible because of the integration of the Blockchain platform with the property portals. It has boosted the property registration process, as the buyers don’t need to visit any banks, registration offices, or agents to make the payments. They can use cryptocurrencies to make the payment of registration fees, and other related dues.
4. Comprehensive Listing & Search Options
Online property portals offer comprehensive listings of a wide range of real estate products and projects with all the details and price lists. In addition, they provide advanced search options with filters. For example, buyers, investors, and property seekers use filters like budget, location preference, plot size, or brand preference. This way, they can quickly find the right property options.
5. Digital Signature
Digital signature is one of the most important and upgraded features introduced on these property portals online. Firstly, it allows realtors, builders and developers to use their digital signatures to authenticate the Sales Deed and Sales Agreement copies. Moreover, digital signature is a secure tool because it is encrypted with codes. As a result, nobody can use it without the direct permission of the user.
6. Display Of Properties & Related Details
As we have already discussed, these virtual property portals allow realtors to display and market their properties and real estate projects with comprehensive details, specific information, and updated price lists. In fact, everything remains upfront and transparent, and nothing stays hidden. Therefore, this builds the trust factor among buyers and investors toward the brand.
7. Documentation & Verification
Different AI tools are incorporated on these portals to collect and save the customer data. This mechanism also allows users to cross-verify all the details within seconds. It improves the documentation and verification process during the trade of any property.
8. Providing AI-Driven Insights
Online real estate portals provide AI-driven insights and reports to brand owners. With the help of these, they can make futuristic business decisions and marketing strategies. Furthermore, this approach saves time, money, and effort for the business.
9. Real-Time Progress Updates
One of the major benefits of having an online property portal today is that it provides real-time progress updates about the listed projects and available real estate products. As a result, buyers and sellers build trust. Moreover, this creates an assurance of complete transparency between both parties.
10. User Ratings & Reviews
Real estate portals display user ratings and reviews online. Buyers and investors use this feedback to cross-check customer experiences with the brand. It guides them to make smart buying decisions.
Conclusion
Due to the boom in the real estate market in India, along with technical advancements, the integration of AI technology, and globalization, online portals play a crucial role in building brand value, business image, customer loyalty, and trust. In addition, these portals encourage transparency and therefore keep processes systematic and free from disputes.
