Real Estate and Current Technology - A corkscrew relation
Pinkerala News Desk | Jul 11, 2018
The real estate industry is based on man’s innate need to own an eternal asset. This solid security is the driving force which creates an ever-growing community of prosperous buyers & sellers.
And technology, which is the stimulating force behind the way today’s world function, thus has a colossal impact on this territory of land & ownership of space as well. Along with the fourth industrial revolution setting its foot in the world, the real estate market can foresee a digitally-bridged gap between the physical and biological spheres. It is the digital age for real estate too which is marked by the use of mobile devices and web applications for various activities and communication. Over 90% real estate firms have established websites with latest property listings and virtual tours of potential properties.
In view of this, let us find out the most salient technologies taken over by the industry. It will help real estate stakeholders catch the big picture:
1. The fusion of real & virtual is pervading the industry
The utilization of Augmented Reality and Virtual Reality has enhanced responses from the buyers by creating innate & impressive experiences. Instead of physically visiting the spot, users can walk around looking at every nook & corner in a digitally stimulated world! Development of AR real estate apps has already started invigorating the world market.
2. Canny chatbots with timely information at your convenience
These software programs can converse with visitors in real time and provide immediate responses, information, videos and images of the property. Besides, they are available 24x7 and can easily convert an inquiry into a lead by providing faster & convenient information. Visitors are also inclined to trust a program more than a human as the element of fudge or fraud is removed.
3. Dynamic Mobile apps – A breakthrough in technology
Online searching of residential & commercial properties has led to the emergence of mobile apps which is boosting the real estate market. Easy access to information, navigation, recent notifications, etc with a friendly user interface – all these features convert the complicated process of searching into a cinch..
4. Estate market shifting gears with Analytic tools
Investors, agents, property owners and other stakeholders are resorting to structured sources of data that can provide information and analysis on best offers, opportunities, and developments. Predictions on future options and an understanding of the working of market optimize their search for the best in the industry.
Among the various tools available, an evaluation may be done on the basis of the facilities they provide for e.g. in-depth comparison, what-if & financing scenarios, exit strategies on the property.
4. Pushing limits, breaking grounds & raising the bar at 360 degrees– The 3 D Technology
When real estate communicates in a way that improves one’s acumen and gives an advanced insight into the design, a 3 D model is born. Be it a virtual building covering all its development phases – from conception till architecture, or virtual furniture to analyze its appearance in the real environment, software tools like CAD are used to create precise technical drawings for a better understanding and an animated interaction with the surroundings.
Smart automated homes, microgrids, data security & transparency, and drones are a few other benefactions shaping the industry. Such conveniences have indeed turned the real estate into an intriguing profession.
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