The Internet of Things, or only IoT, is one of the most popular technologies in the modern world. This technology, a network of devices interconnected via the internet, has enabled not a sector or two but the whole gamut of industries in the world usher in a brand new era of efficiency, profitability, and so much more. It has eased delivery of high-quality customer experiences; it has made logistics smarter, and on and on. And in this wide range of industries to benefit from IoT, real estate is perhaps the overlooked industry. We will save the monologue about why that is for another day and jump straight to how the real estate sector stands to benefit from IoT.
As mentioned above, this technology is underpinned by a network of interconnected devices, including sensors, mobile phones, appliances and more. Now, how does that help real estate? For example, real estate agents can tap into IoT, combined with other advanced technologies such as virtual reality, for virtual showings. It can help the agent & the prospective customers save precious time when they are house hunting, be it for buying or renting. Yet another compelling use case for IoT in the context of real estate is for predictive maintenance. It helps monitor the infrastructure and undertake predictive maintenance instead of fixing issues when they become full-blown problems. Here are some other weighty benefits of this duo.
- Smart property management: If you are amazed by the concept of smart homes, wait till you hear about properties and buildings. Yep, the scope of IoT can be extended beyond individual homes to entire buildings to enable intelligent property management. This, in turn, can help the property carve a niche for itself in the market. How? Remember predictive maintenance? You see, that can help make sure minimal impact on the residents when such care has to be carried out. Other times, it can be avoided entirely.
- Safety: Of course, security and safety are vital concerns and trust IoT to help with that. One can use the cameras to keep an eye on every visitor, remotely prevent or authorize a visitor’s entry. And not only that, IoT can also help lock doors, gates & that too remotely. So no one has ever to worry if they forgot to lock the door or not.
- Monitor energy usage: Efficient energy usage is one of the most vital needs of the hour & IoT can help do that too. It does so via sensors and the connected appliances, of course, so, say, if no one is detected in a particular room, the light, fans can be automatically switched off. Of course, this also helps with maintenance.
IoT brings plenty to the table when it comes to real estate. And suppose you wish to leverage it to your benefit as well. In that case, we recommend finding a service provider to help you develop the right real estate software solutions for your enterprise.