Thank you for Subscribing to Apac CIO Outlook Weekly Brief
Technology Gaming Up for Real Estate Excellence
The duo of real-estate and technology never surprises the market. The industry has always been utilizing the advantages delivered by tech-driven trends.
FREMONT, CA: In the past few years, technology trends are reshaping the real estate industry, and the impacts are well-evident. Whether the goal is to sell a property or to invest in it, the ways to approach a functional deal proves the effective reach of technology. The increase in demand for suitable housing raises the opportunity for the tech industry to deliver innovative solutions. Today, real estate industries are efficiently providing services to satisfy the customers of real estate projects.
• Project Development and Management
Adopting the advanced technologies such as Augmented Reality (AR), Building Information Modeling (BIM), robotics, 3D printing, Project Management Software (PMS), modular construction and many more have contributed in the transformation of the industry. Generation of images or models by AR to visualize the site or building allows the developers to add changes before the construction begins, which proportionally reduces the cost due and helps strategize the timeline of the process. To aid construction management, the constructors can use dedicated software to increase efficiency, maintain clarity, and accountability in the team. The assistance can secure real-time communications to track the operations of different segments like scheduling, costing, and payments.
• Distribution and Marketing
For brilliant marketing solutions for the successful delivery of project, technologies like Virtual Reality (VR) and chatbots can provide tremendous support. As VR delivers the features of inserting or arranging imaginary elements to a presented model, the project can take its advantage at the time of presentation before investors across different geographic regions as the interests and requirements vary. On the other hand, the chatbots can grab the attention of potential customers with its capability to interact and handle the simple and essential questions. The implementation of chatbots reduces the cost of sales and marketing.
• Asset Management
The concept of a smart city is never complete without smart homes. The installation of IoT, robots, or smart appliances from our work areas to homes is the result of the increase in demand for more comfort and luxury. Today, real estate investors are leaning towards the projects which deliver high-tech facilities regardless of the real estate property type. The customer’s demand for modern and tech-driven experiences inspires the developers to look for innovations to add in the projects.
Innovations and the real estate industry combine in this tech world to welcome value-added benefits. From past decades technologies like machinery, validation of right site for constructions, online property selling portals, and almost all the segments portray its presence in the sector.