“Technology feeds on itself. Technology makes more technology possible.”
– Alvin Toffler.
Are you aware of the future technological advancements to expect in the real estate industry?
Real estate is and has always been the most worthwhile and profitable investment sector. It is currently the fourth largest in terms of FDI (Foreign Direct Investment) inflow and was valued at US$ 93.8 billion in 2014. Forecast is that it will hover around the US$180 billion mark by 2020.
In this rapid age of start-ups and technological advancements, this industry is ironically not the front runner in adopting innovative changes like the others. It has been quite slow in incorporating various trends.
With high potential for change and various new inclusions, the following are our Top 3 trends to watch out for:
Home automation will soon be the buzz among home-buyers. From the convenience of your smartphone, you can end up controlling the various devices in your home. This will provide a stronger sense of security for you and your family. Although the technology exists, it is limited to high-end commercial and expensive residential buildings.
Time is not far when it will be available at economical rates to more middle class families in the future. You can end up controlling your home security devices, lighting, home appliances, audio/video devices etc. all via an app installed in your smartphone.
GCI (Google Cultural Institute lab) and Google Cardboard are two technological breakthroughs that can be used to amplify customer experience in real estate.
GCI is currently used to view high resolution finer points of images at art galleries and museums. So, if you like to take a closer look at a piece of art in Berlin from your home in India, then this tech tool is your solution. In the future, this technology can be used to get a better picture of architecture, complexes and neighborhoods from the comfort of your laptop.
Similarly, Google Cardboard is a simpler version of virtual reality where you can get the feel of walking in a model house that you are thinking of buying. By simple, we mean that it can be done with the help of an app downloaded on your phone.
Now, imagine combining both these concepts and walking through your dream home and zooming in on various details to have a closer look.
An aerial video or photo of your realty project would create for an amazing customer experience. This sci-fi tech tool would create innovative marketing potential for forward-thinking agents and companies; a simple yet effective notion to enhance your market presence and service standards.
The pace of technology is getting creative and challenging with new concepts being delivered almost every day. It is only fair that they are adopted sooner than later.
What is the new buzz that you have heard with future technology tools for the real estate industry? Please do share your thoughts on the latest news and also on how you plan to adopt the above 3 points to strategize marketing and sales?
Are you aware of the future technological advancements to expect in the real estate industry? Real estate is and has alw...