Making real estate ownership more fluid, open and transparent, enabling buyers, sellers and middlemen to engage better
THE FUTURE AS WE
SEE IT
Technology is changing the way real-estate brings together owners, tenants, buyers, developers, builders, insurance companies, government and other stakeholders in the industry. With adoption of digital, there’s new, disruptive potential with data; for example – presenting timely data, relevant analysis & insights to individuals & organizations, can reveal new opportunities (for individuals, companies and governments) – like valuating land / properties accurately, mobilizing money frequently, transferring ownership seamlessly, occupying spaces faster and so on.
With technologies like Virtual Reality, potential real-estate buyers can experience walking inside a model house they’re exploring. Newspaper ads or face to face meetings have reduced, and have been replaced with quick 360 degree views on the mobile phone and real time customer feedback from a site visit. Discovering, Selling, renting, broking, paying etc have been digitized to quite an extent, with ability to digi-sign agreements, ability to maintain a digi-locker for storing & easily sharing key identity / address proofs and ability to make faster, peer to peer payments via mobile.
72% of the investors are more interested to invest in the real estate than any other assets class in 2013 as per PWC.
60% of raise in assets management to US$107 trillion by 2020 from US$63.9 trillion currently as per PWC.
27% of real estate agents spent $500 – $2000 on technology in the last year. This indicates that the real estate agents are adopting the latest, trending technologies for simplifying broking.
25% increase in construction activity from 35% in 2005 to 60% expected in 2025 in the emerging markets indicating the eye of investors in the real estate industry.
Source : National Association of Realtors (NAR) and pwc
Smart Homes
Smart homes is changing the real estate industry by giving the user convenience to control all the electronic devices at home through their smartphones. With the ability to watch security cameras from one’s smartphone, it has increased convenience of safety monitoring and control.
Example:Smart Home devices also can let you monitor the safety of your home, unlock doors to friends for temporary access and even turn your regular appliances “smarter”.
Drones
Drones can enable realtime streaming of aerial videos or photos of a real-estate project to give live information to people. Imagine, Drones streaming live data from a construction site, to customers who want to keep a track of the progress.
Example:Using a modern ready-to-fly camera drone like the Phantom 4, we can create dramatic shots combined with GPS enabled feature to give people an engaging, valuable experience.
Google Tech
GCI (Google Cultural Institute lab) and Google Cardboard are two technological advancements that can be used to enrich customer experience in real estate using “Virtual Reality” (VR) techniques. People with VR tools, can have a closer look at the property they wish to buy, remotely.
Example:Google Cardboard gives a virtual reality experience of walking inside a house one is planning to buy. GCI enables people to zoom into various corners and details of the house, to have a closer look at it.
