Tuesday, 26 June 2018

How Digital Technologies are booming the Real Estate

Digital disruptions are impacting all the industries and pushing organizations to change or die. 

The residential real estate industry was built upon personal relations and contacts. Knowing the trustworthy estate agent personally, was more comfortable for buyers to make investments.

Today the scenario is changing. Several online estate agencies have been set up, which allow owners to buy and sell properties digitally.

At every step in the process of finding, visiting and buying a home, property managers are now focused on enhancing the customer experience with help of digital technologies.

Digital technologies are used for real estate portals, to find a trusted agent, view potential properties and invest as required.

Some property managers allow their agents to shoot, edit and upload video footage of their properties using their mobile devices. This resulted in the increase in reach and quick selling.

Digitization can help you increase your reach from a bunch of agents and investors to thousands of individuals who have interests in purchase and sale of Real Estate.

Digital has come into real estate as well:

·      In searching the properties – Buyers can go online on MagicBricks.com, 99Acres.com to rent or check out the property before buying.

·      Virtual tours of the property – commonfloor.com gives you live-in tours saying see your next home from every angle. This reduces time and expense for owners and creates convenience for the buyers.
·      All the Frequently asked questions about the proposed project can be answered in a direct chat with use of emerging technologies like chatbot powered with artificial intelligence
·      Old fashioned hardcopy of blueprints are now replaced by Building Information Modeling (BIM) which uses 3-D computer modeling. This helps architects and contractors to collaborate more easily and make on-the-fly alterations to existing designs. Maintenance becomes very easy as the BIM model contains all construction data in a single plan.
·      With Social media presence, buyers can get multiple reviews and comments on the properties and even ask the agents to take them on a video tour of the property through WhatsApp, FaceTime, Skype etc.

From the buying or selling when we come to occupied properties, digital technologies are used for the betterment of occupants.
·      Smart Buildings: Facilities including power management, lighting, physical security, fire safety and IT infrastructure.
·      Smart Energy: Automatic lighting control, may vary from obvious night-time auto-activation to dimming based on crowd density and weather conditions. Nest offers a number of innovations like motion detectors to adjust the heat settings when the family has left for the office or schools.
·      Smart Meters - Every home will have a smart meter to control the power usage and report in real time.
·      Smart Water System: IoT sensor enabled water systems which measure the flow, pressure, level and chemical content of the water to improve quality and usability
·      Smart Access: Users can open home doors or office doors by just touch of a finger or even with IoT enabled sensors ensuring garage doors are opened when users are approaching


From living rooms to the yard, we are embracing the digital technologies which are helping the booming real estate industry.

Saturday, 16 June 2018

Digital Transformation in Recruitment

A few years ago, the impact of digitization was only established in top industries like Banking, Insurance, and Retail. Now times have changed – the recruitment industry is also adopting digital transformation.

Everyone is a candidate at some point in their journey. Whether you are an employer or a candidate searching for a job, the digital transformation is helping the recruitment industry to implement smarter hiring strategies.

Recruiters are the brand ambassadors of a company as they are the first people with whom a candidate interacts. But getting the right people with the right skills, at the right price, has been a long-running headache for recruitment teams.

It’s a competitive marketplace for talent, with demand for skilled labor far exceeding the supply of qualified candidates actively looking.  This makes it more important need for recruiters, to master new digital techniques to find, reach and engage right skilled potential candidates.

Candidates seeking jobs in the market are also now tech-savvy and expect fast and easy application processes and communication. Their behaviors and preferences are changing. Power has transferred from recruiter to candidate.

There are multiple ways digital can help:

Assess the digital footprint of the candidate: Recruiters can use this data to get important insights into the skills of potential candidates. Correlations between social media profiles can reveal important aspects such as interests and hobbies, as well as an overview of the candidate’s personality. How suitable is the candidate to an organization’s culture can be assessed based on her/his social media sharing habits on subjects like gender, age, race, and politics.

Online language/skill assessment:  It is one of the easiest ways for companies to filter through the pool of candidates efficiently. Recruiters can ensure the quality of their hires via psychometric and other tests.

Online job portals:  Monster, Glassdoor, Indeed, Naukri and TimesJobs have helped in reaching out to candidates across different geographies and industries. They have also helped in building good candidate pipelines for recruiters. LinkedIn has started this revolution long back and has the credibility of companies as well as candidates equally.

Advantages of Digital Transformation in Recruitment:
·      Your website messaging can be targeted to different candidate personas
·      Candidates can easily engage with your company on social and mobile
·      Helps create the company brand in the digital world
·      Machine learning is helping is processing piles of applicants to find the right candidate
·      The organization can nurture candidates over time by relevant job alerts, talent campaigns
·      Social media presence generate the better response from talents to the brand
·      Digitization helps in ease of entire recruitment process and in turn happy candidates
·      Job seekers get an inside view of a company through a site like Glassdoor, which includes information on compensation, organizational culture, career progression, learning opportunities, etc.
·      Through the use of Big Data, learning companies can find suitable candidates, cut recruitment time and costs
·      Consolidated database of CVs becomes a powerful mining tool and cost saver


Digital is helping to convert the chaos of recruiting into “Smart Recruiting”.

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