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The digitalization of the real estate industry

Those from the baby boomer generation or older may look at modern technology as very Jetsons-like. But there is a need these days — with what’s happening in the world — to be able to access more goods and services online. That goes, too, for buying and selling real estate. New Jersey residents may be interested to know that they can now search for their perfect home in the comfort of their current abode.

During times of strife when people are relegated to staying at home as much as possible, it might seem that it would be pretty difficult to transact real estate. In fact, that is not the case. Realtors have come up with savvy ways to present their listings on line and that includes virtual open houses. Chances are, the old way of doing things might disappear altogether.

Property technology in the real estate world is known as proptech and it’s leading the way moving into 2021. In three years, a staggering near $70 billion has been sunk into proptech. Those dollars are earmarked for things like financing, closing and discovery and the outcomes are saving consumers money and time. Digitalization is expected to up the ante regarding transparency in real estate transactions for both buyers and sellers.

Even with new technology leading the way in the real estate industry, New Jersey buyers and sellers still need to look to a lawyer for major tasks like looking over contracts to make sure they adhere to laws, to closing deals. A lawyer can shed light on questions pertaining to laws related to real estate and those types of questions often crop up.



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