There's a new way to get into the real estate market with the click of a button or the swipe of a finger.
Yongle Technologies, a website claiming to change "the how of pre-sales" made its first real estate transaction on Friday.
The site lets prospective buyers go online, choose a custom-built suite and make an offer in real time. Buyers can also make decisions and sign contracts from the comfort of their homes.
"I think it actually is going to change the industry significantly," president Richard Bell told CTV News on Friday.
"I think this will be the dominant type of technology that'll be used not only in pre-sales but just for the regular transactions done by the realtors."
Bell came up with the idea after seeing people lined up in the rain to make offers on buildings that hadn't been built yet.
"It just doesn't seem to be appropriate that they should be put through that process, as opposed to being able to reserve a spot online and come into a sales centre at their booked time, or in fact, simply connect through the Internet."
Bell said the systems are secure, and simplify the process for real estate agents as well as buyers.
"It's tremendous technology for assisting every stakeholder in the business," he said.
The site is currently only available for the pre-sale market, but Bell hopes it will eventually expand to include homes being resold.
The site also helps the environment, cutting down on paper in an industry that uses more than 200 trees' worth every year in Metro Vancouver.
Vincent Hoy, son of the first person to make a transaction, said convenience is the main appeal of the site for homebuyers.
"I think it's great… It streamlines everything and you don't have to run around and get signatures anymore," he said.
"Get used to it. It's here to stay."
