We live in a fast-paced world which is run by different technologies. Nowadays technologies are changing view on every single part of our life. New app and services are able to help people in their work as well as personal life. We decided to explore 4 new tech trends that are shaping the real estate industry.
1. Increase efficiency through flexibility and utilization rate
Unused value is wasted value, that is maybe the first idea of the biggest brokerage company Airbnb. They motivate people to rent their unused properties mainly for short term. So it is not just sharing but it can be also way how to utilize empty property for extra income. Some people tend to be flexible so they could share their work space. In this case, real estate industry is changing by many Apps which allow people to manage their property by themselves. Individual owners aren’t pushed into selling. They can easily benefit from what they own.
For example in London or New York City you can find transformed model of housing that focuses on community-driven experience. Moreover, you can discover spaces that inspire your work everywhere you go. By connecting two previous (co-living, co-working) ideas we can find trend of adaptive spaces. Property are used as accommodation and working office all in one. The following companies are driving the co-living and co-working industry:
2. Technologies allowing in-depth comparisons and analysis with Real Estate Data
Internet includes unimaginable amount of information but the information is fragmented and not standardized. Therefore, developers are trying to come out with PropTech solutions. They are able to compare data, help with fast research or unite all data to make it clear for all users and stakeholders. BeaconSageRE makes you more efficient by using detailed data from MLS. People can download detection app and you’ll reach those who drive by. To enhance your daily investments use advanced technology which evaluates data from real estate market.
Also, Rentier provides solution for automated valuation of property, rental price estimation, research and investment potential assessment. In conclusion, easier access to more and more real estate data is changing how private individuals and real estate investors buy, sell and rent real estate.
3. Smart Property Management
By extension of the internet into everyday objects and physical devices we are getting so-called Internet of Things. As we are on the real estate field, it means that there is a growing portion of devices which can be used for smart property management. It opens doors to effective solutions in energy consumption, property security, media control etc. Hence, creativity is the only limit. Projects of complete home management looks like from another world, maybe Aime from CosineLabs could be the first step for your property! IoT is related with another trend of well-being which leads to specific solutions.
For example Haltian can help you to have fully smart office or washroom. Maybe you’ll be surprised how artificial intelligence helps to save energy, prevent risk and draws up reports, learn more from Wattabit.
4. Al changing indoor navigation, real estate marketing and interior design
As a last of trends shaping real estate industry, we would like to mention Al. Human intelligence is replaced by software in terms of perception of reality. In this case the impact is well described by Forbes: “AI can improve and enhance almost all digital consumer experiences delivered by property agencies (Forbes).” Due to competing on huge real estate market it is important to provide experience that win. As practical use we could mention mainly 3D models, visualizations, digital floor plans, virtual tours and so on. Those PropTech solutions allow photographers, brokers and individual owners to save time and focus to their real expertise.
Do not miss the great solution of AI backed floor plans by CubiCasa. Just scan a property in 5 minutes and get a professional floor plan within the next business day. If you want to create an immersive experience about the property, try 3D showcase of a house. And if you have an even bigger range, maybe visual area plans improve your communication to customers and other stakeholders.
Based on KPMG Global PropTech Survey it is clear that previous mentioned trends and many others are going to grow and have an impact on whole real estate industry. Companies also see technological innovation as an opportunity. And from the same source follows that the most important is automation, artificial intelligence and Big Data (data analysis) etc. So dive into PropTech World. Because those who are not going to have a digital strategy, they will have problems in the future.
If you want to learn more about the latest real estate technologies in this field. Check out our new blogs. See you soon!