The processes of every industry are currently under a significant transformation. Between the Internet of Things (IoT), virtual reality, artificial intelligence (AI), and more, the digital industrial revolution is well underway.
In the real estate sector, the adoption of new technologies and a general movement towards more autonomous engineering has revealed a gradual transformation of commercial properties into “smart buildings”. This transformation has affected everyone involved in the real estate industry, from architects, builders and real estate agents, to the sellers and tenants. As more data is collected throughout this movement, agents are empowered to sell more effectively, and buyers to find their ideal home or property investment in a more streamlined process.
The Impact of the Digital Transformation
One of the key factors behind the real estate repositioning into a digital experience is the buyer experience. Regardless of whether it is a commercial or residential property, having a seamless experience through innovative technology helps to improve the buyer’s overall satisfaction and streamline the often complicated processes needed to get there. Digital technology can help to alleviate and eliminate problems that might occur otherwise.
The Buying Process
With real estate repositioning into a digital industry, it is transforming how people are using the internet. While most real estate agents and firms are using websites and online listings, more and more people are embracing exclusive mobile apps and social media tools to connect with buyers. People researching properties now have more access to information than ever before through digitized public records and the ability to reach out personally to previous tenants and owners.
Digital Building Intelligence
The real estate positioning into the digital world also has changed how construction workers, architects, and engineers are able to plan, design, construct, and, ultimately, manage properties. Using digital technology like Business Information Modeling (BIM) helps real estate professionals manage every stage of the building, from the design to the construction of the building, and even to the implementation of advanced technology (i.e. access control, smart sensors. It can even help optimize the space and manage the property more effectively.
The New Real Estate Agent
With so many websites and property listings online, it has become easier for buyers and sellers to find each other directly, without having to rely on a real estate agent. However, real estate agents can still make themselves a valuable resource by using their market research insights and offer customized services to help people sell and buy homes easier.
Digital Transformation to the Smart Building
Cloud-based access control systems have allowed agents to do their job much more effectively. This kind of system allows agents or brokers to unlock the door with their phone and share access within seconds to anyone who wants to enter the building.
Using technology like this is transforming how site visits take place. Now, people can get access to a building for a limited amount of time if needed and can be allowed to visit without keys or needing to communicate with several people for just 20 minutes of access.
Other services can provide a 360-degree virtual experience. It allows the buyer to see the property from the comfort of their own home, without having to spend time traveling to the site. Being able to view a property virtually, see the size and placement of the rooms, as well as other things like windows, wardrobes, closets, and the bathrooms can be a great resource for people to virtually check out the property.
Using different access control systems can also be a way to monitor who is coming in and out of the building. Realtors, agents, and even owners can use this technology to monitor both residential and commercial properties in real-time and remotely. It also gives building owners the ability to schedule repairs by allowing the doors to be unlocked or accessible for specific periods.