New Technology in the Real Estate World.

There’s no doubt that technology has revolutionized our world in countless ways. From the way we communicate with friends, to the way we entertain ourselves, to the way we organize our lives, few areas have been untouched by technology. And this can truly be an amazing gift in so many ways! 

The real estate world, likewise, has been drastically impacted by the technological world in recent years. There are a few specific areas it has benefitted our industry, and I would love to highlight them here for you guys today!

• Immersive Technologies. Immersive technologies, also known as 3D technologies, have begun to transform the way we do home tours, plan for building projects, and explore properties with our clients. In a world where so much can be done from the comfort of our homes, it only makes sense that touring a potential home, whether it’s across town or on the other side of the world, could be done using technology as well. Although there will always be pros and cons to doing things in person vs virtually, immersive technologies are only gaining momentum in the real estate industry. 
• Internet of Things. In short, the internet of things is the management and connectivity afforded by electronic sensors and computing technology. This means that everything from your Wi-Fi to your home lock system can be interconnected and sending valuable information back and forth via the cloud. As more and more amenities and aspects of our lives are being manufactured with this computing technology, the internet of things and its use in real estate only continues to grow. 
• Building Management Systems. Building management systems is what we have to thank for turning an ordinary house into a smart home. The software tools it provides enable us to manage and monitor so many things regarding our home’s physical state and environment. Being able to keep tabs on temperature, humidity, light usage, air conditioning and heating needs in the home also gives the homeowner the ability to make more energy efficient choices. There are so many wonderful ways BMS can be used to make home management simpler, more efficient, and more personalized.
• Blockchain. One of the newest technologies to touch the real estate industry is blockchain. Although it may not typically be associated with real estate, blockchain technologies can be so helpful when it comes to protecting against fraud, guard against tampering with financial records, and ensure secure transactions between clients. These capabilities will only become more and more essential in our field as technology plays an ever increasing role in real estate transactions.

These four areas only scratch the surface of where proptech (property + technology) is heading. I am constantly amazed by the capabilities that technology offers us, and have no doubt that it will continue to benefit real estate, enabling us as realtors to help our clients even more effectively as we unlock new doors together.