The usage of technology is taking over the world including all our homes, office buildings, commercial and retail spaces. Long-distance buyers are able to now have a panoramic view of a locality that is 5000 kilometers away via drone technology. AI and Virtual Reality can project imagery of a building that hasn’t even been constructed yet. Looking for the perfect fit home is now hassle-free and available at the tip of your finger via an application. Here are some of the ways technology has disrupted the Property and Real Estate industry.
Paving the Way to the Future
Property management in commercial buildings has realized the importance of security technology. Most buyers and renters are attracted to buildings with well-equipped security methods. Here are some of the well-known security features installed in various buildings –
- Smart doorbell camera that’s interfaced with a smartphone or a PC so owners can watch overall activities in their home.
- Home security that integrates camcorders, sensor automation, and centralized 24/7 surveillance.
- Smart locks controlled installed at individual apartments and the main entry.
- E-keys are cloud-based transient clearances for delivery men, milkmen, dog walkers, part-time help in order to monitor their entry and exit.
- Video monitoring systems that include zoom, wide-edge, and access to cloud archives.
- Facial recognition of smart locks.
The application of 5G will provide a higher bandwidth allowing more smart devices to connect to the internet. The main way 5G is going to impact the Real Estate industry is through home security. With the onset of 5G, it becomes easier to integrate sensors and cameras around the property. These devices can then capture high-resolution images and send them anywhere almost immediately. For this to work seamlessly, one would need several 5G base stations that are placed close together.
Drones are a long-lasting trend that has the potential to transform the Real Estate market. Through drones, digital and multi-perspective site visits are possible. One can create a story around a property using the technology a drone provides one with. Cheaper aerial photography and videography of the property is also possible with the facility of a drone – this will give the buyer a clear idea of the size of the space and the neighborhood. Drones are capable of giving the buyer a virtual tour of the surroundings of the property so that they are reassured that the neighborhood they’re moving to is well kept.
Virtual reality or Augmented reality in Real Estate tours allow a plethora of options while buyers can view a home from miles away. It also enables realtors to make tweaks in the style of a room basis the buyer’s wishes – either by removing or adding elements and pieces of furniture. For buildings whose construction hasn’t started, Augmented reality can create probable walkthroughs as well as imagery to help buyers experience the entire property and its surroundings.
This is just the beginning of the wave of improvement and changes to come in the Real Estate industry. There’s so much more in store for the future!