Those that embrace creativity may find themselves in a better place to take advantage of the shifting environment and grow with confidence. Here are some of the technology trends forward-thinking real estate investors and professionals might want to consider:
Drones are more formally known as unmanned aerial vehicles (UAVs) or unmanned aircraft systems (UASes). Essentially, a drone is a flying robot that can be remotely-controlled or fly autonomously through software-controlled flight plans in their embedded systems, working in conjunction with onboard sensors and GPS. It’s suggested that there is potential to use drones to show job site progress or aerial views of homes and their lots, in addition to others looking to integrate docking stations into communities to accommodate last-mile delivery needs.
An autonomous car is a vehicle that can guide itself without human conduction. This kind of vehicle has become a concrete reality and may pave the way for future systems where computers take over the art of driving. An autonomous car is also known as a driverless car, robot car, self-driving car or autonomous vehicle.
This emerging technology will change things in a major way when it comes to space planning, even before they hit the market. Developers will have to think about parking lots in new residential and office buildings, just like they did with the electric car charging stations, because as driverless vehicles start to become more popular, spaces for them will need to be planned out and designated.
Also known as AI, artificial intelligence is the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.
AI offers enormous value in automating mundane, time-consuming, manual tasks which real estate agents and offices could utilize to improve their efficiency.
Blockchain is a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network.
From land title registries to processing rental payments and property deposits, there are so many things this new technology has the potential to affect in real estate. If, at some point, real estate blockchain comes into play, it could help to cut costs and reduce fraud.
Virtual and augmented reality
Augmented reality (AR) adds digital elements to a live view often by using the camera on a smartphone. Examples of augmented reality experiences include Snapchat lenses and the game Pokemon Go. Virtual reality (VR), on the other hand, implies a complete immersion experience that shuts out the physical world.
VR and AR allow for full viewing and immersive experiences in yet-to-be-built projects. VR, in particular, is quickly becoming a powerful tool that lets potential buyers virtually tour properties from a distance, allowing them to experience the space without the need for viewing appointments or model homes. This technology can be a time saver and reduce pre-sale marketing costs.
Kandice Henry is a Real Estate agent with iPro Realty LTD. She has been in the Real Estate field for over 10 years.
Her hands-on knowledge began when she purchased, flipped, and leased her own properties. Five years ago she began her career as an agent and has had much success helping clients purchase and lease in both the residential and commercial sectors. She is a hard working agent who truly cares about finding the perfect fit for her clients. Kandice's resourcefulness lends to her full, experienced team behind her that is ready to help you close your next lease or purchase.