The real estate sector may not be viewed as a leader in technological innovation, but they’ve also never been slow to leverage new technologies – a great example of this is the introduction of real estate websites at the turn of the millennium. Nowadays, the world is increasingly powered by technology – whether it’s via internet connectivity, or the ever-increasing amount of data being created and used by companies.
Many estate agents could definitely benefit from leveraging modern technologies to make their work not only easier, but more effective. We spoke with TechQuarters, an IT support provider London based estate agents have worked with in the past, and they told us all about the kinds of technology trends that they have seen in the sector, thanks to their work with clients.
Real Estate Technology
Particularly in recent years, investment in technology within the real estate sector has been growing significantly. More and more estate agents are adopting technology solutions. For instance, the small business IT support London providers like TechQuarters offer are being increasingly utilized by estate agents, because it enables them to manage their IT more efficiently, and access cutting edge technology more easily.
Technologies like cloud computing, artificial intelligence, and mobile technology have all contributed to a wide array of tech innovations that are being leveraged by tech-savvy estate agents. Below are some of the top tech trends within the real estate sector. You can boost you real estate business through SEO services.
Tech Trends in Real Estate
- Property Intelligence
This trend refers to the use of data innovations such as artificial intelligence and machine learning within the property sector. Whenever business decisions have to be made, it is important to have access to data to inform those decisions. In real estate, for example, property investments are made based on rigorous insights into the history of a property. Using property intelligence can make analysis of property data much quicker and easier – thus, making it easier to make intelligent decisions around real estate.
- Digital Twins
Property management is one aspect of real estate where a lot of tech innovations are being made. Digital twins is a perfect example of this. A digital twin is a virtual representation of a physical property – they are depicted as a 3D model which features real-time data, thanks to sensors installed in the actual physical property. These sensors enable property managers and estate agents to monitor properties remotely. For example, key systems in the property – such as ventilation or plumbing – can be monitored via the digital twin; and if any issues are detected (or even predicted from analysis of the data feeds) fixes can be deployed without delay.
- Virtual Tours
Virtual tours refers to any means by which estate agents can present a property to prospective buyers or tenants remotely. This could be via a video call (as has been particularly common during the Covid-19 pandemic), or it could be a more immersive, high-tech form of virtual tour. For instance, an inch-by-inch capture of a property can be taken, and then super-imposed on a 3D model on a computer – effectively creating a virtual dolls house of the actual property, and allowing people to explore the property in greater detail via a computer.
- Smart Homes (IoT)
Smart homes are becoming increasingly popular and in-demand for many homeowners – both existing and prospective. Smart homes are made possible through the use of the Internet of Things (IoT).
An Internet of Things is a network of smart devices – i.e. devices that can record information form their surroundings, and communicate said information to other devices – which form an ecosystem, where data is transmitted between these devices. As a provider of IT support for estate agents, TechQuarters confirmed that many of their clients in real estate are now seeking support for software and systems relating to IoT and smart homes.