How Tech ‘ll Make Real Estate Industry Seamless — Experts

Real estate investors have called for more technology adoption in their business, to leapfrog the bottlenecks which bogged the industry in the past.

They used the opportunity of West African Property Investment, WAPI, summit in Lagos recently, to express their desire to advance the real estate business with technology.

They contended that only focused tech adoption in the real estate ecosystem in Nigeria will usher seamless processes.

The 8the annual WAPI event, held to identify investment opportunities across multiple subsectors, was sponsored by hospitality firms like Radisson Hotel Group and real estate firms like Pennek, Spleet, Novare, BuyLetLive among others.

Speaking to some of the experts who decried poor adoption of technology in the sector, they noted that Nigeria is coming up but that there is room for an improvement as adoption is still far below compared to developed countries.

For instance, Chief Operating Officer at an online real estate company, BuyLetLive.com, Modupe Agbolahan, said although the adoption of technology has been good because people now see technology as the way they can post their property online.

However, she said: “Nigeria is far back when it comes to technology, especially in the real estate industry.

She said: “Unlike before, to rent a house you go through an agent, you go around inspecting the property but with technology it’s easier and cheaper with N200 you can get data, browse the houses, and check their prices.