How Technology Is Transforming Real Estate
You probably use one of the most influential and powerful tools ever invented, on a daily basis – the Internet. Let’s look at how property professionals today can effectively use some of the latest smart home applications and how technology is transforming the future of real estate.
The Web
Technology today has advanced beyond mobile devices and office computers, and whether you call it the Web of things (Wot) or the Internet of everything, (IoE)one of the big advantages of the Internet is being able to remain connected even when thousands of miles from the office. The Chrome browser by Google lets you remain connected, while effortlessly and quickly switching from one device to another.
Smart Technology In the Home
One of the biggest markets for the emerging new technology is the new homes market, and a huge leap is forecasted for the use of technology in the home during the next few years. Some of the smart home apps predicted by analysts include
Apps for lawn and garden irrigation that are able to automatically provide the required watering by reading the weather conditions.
Smart lighting and remote temperature control.
A smart refrigerator that can even help you to buy groceries.
Home security and locks controlled by remote control.
Apps that control your overall environment and analyze your habits and routines.
Not Just For Geeks
The introduction of these apps will help to lower the cost of owning a home, as well as allow homeowners to take advantage of the latest technology and feel good about doing so. The use of these apps can also help to improve safety in the home, improve daily routines, reduce the damage done to the environment and even boost the overall economy.
Business Users and the Internet of Things
The impact of consumer connected devices and apps on commerce and the national economy could potentially be even greater than the impact on housing, and this goes far beyond the use of digital marketing, tablets and smart phones. An increase in technology in the home can empower the survival and profitability of many established companies, as well as launch many start up companies, and create perhaps thousands of new jobs. Once the new technology has infiltrated the real estate market, the creation of new tech hubs, districts and spaces will arise.
Office and Business Use
Some analysts predict that automation and real estate apps will have a greater impact in the commercial real estate market, including the buildings where the technology is designed, manufactured and shipped from. The general forecast is for all these technological apps to be connected and working together, everything from water and energy supply and distribution, to defense and security systems and ordering and inventory systems.
One of the big advantages is that CEOs will benefit because of the huge amounts of money saved in operating costs. Businesses will be able to devote more time to expanding and their core business, rather than simply running an office, and the new automation will mean that many companies are more efficient and therefore more profitable.
Managers and CEOs will be able to switch their focus from the small or menial tasks, and instead concentrate on productivity and personal performance. CEOs will be able to take a huge step ahead of their predecessors who relied on dial up speed, and make the most out of time spent devising strategy, brainstorming and generally making money and closing deals.
Performance and service can be significantly increased by the use of the Internet, meaning that the impact for real estate professionals could be greater than for other professions. Vacant properties can benefit from much better security and waste can be virtually eliminated. One of the biggest changes can make a huge difference on the all important home showing process – instead of a realtor meeting a prospective buyer at a home, the buyer can be allowed access by remotely unlocking the door. Motion or video sensor can keep track of their movements, and if necessary, the buyer can be guided through the home remotely.
It’s important to consider the financial advantage that the use of new technology can give you over the competition, and it is no longer acceptable to sit on the fence and be the last person to embrace the new technology. A competitor using the technology is more likely to get the sale if you are still using yesterday’s ideas.