The real estate industry has come a long way from traditional methods and has stepped into the world of innovation, convenience and sustainability. The rapid advancement of technology and the emergence of new and improved technological tools have made it possible for enabling the real estate industry scale new heights.
With the rising implementation of the innovative tools, various fundamental changes in the real estate industry have come to play. Be it residential, commercial or luxury real estate, these trends are expected to fast-forward the real estate industry into the future.
As 2016 comes to an end, new technology trends start to emerge. Let’s take a look at some of the technology advancements that will become commonplace in the real estate industry in 2017.
3D Printed Buildings
3D printing has turned out to be a common topic these days with numerous industries implementing this technology for its amazing benefits. The real estate industry has been no stranger to this trend. The 3D printing technology has started to revolutionise architecture and is expected to be a useful implementation by next year. Researchers have been experimenting with various kinds of raw materials for this technology to make this implementation successful.
3D printing speeds up the entire process of construction and reduces costs considerably. Additionally, it also accommodates enough room to implement any changes that may be required. Dubai has already completed the world’s first 3D printed office. The entire building, including the interior designs as well as the furnishings, has been 3D printed.
One of the most important aspects of real estate is viewing the properties. The customer experience plays a major role in selling the properties. Virtual reality holds immense promise in this field. It can place a prospective buyer right inside the property that has not been constructed yet from the comfort of their homes. Customers can navigate through the entire property and also look at the surroundings.
According to Matthew Hood, who is associated with the real estate industry, “I can lead a VR tour remotely and even see where the client is looking, which allows me to address things like a kitchen counter style while they’re looking at it—just as I would in a real world tour.”
Michael Patcher, an analyst, pointed out, “You could do real estate open houses with 360-degree views and have a client come to your office and check out 50 homes through a head-mounted display and then pick the top ones to visit in person.”
Following along the lines of virtual reality, augmented reality has also scooped up a major part of the limelight in the real estate industry. Imagine pointing your smartphone’s camera to a 2D sketch of the floorplan and viewing it in 3D on your smartphone. Also known as augmented reality, this technology makes it possible to provide a completely life-like experience to clients.
Augmented reality helps in improving user engagement and provides highly accessible property-viewing experiences that customers can look at on-the-go, thus improving convenience considerably.
3D Mobile Apps
3D technology can be utilised by architects to produce 3D renders of a building that is proposed to be constructed. These 3D images are usually complete with the exact details of the interiors, accurate floorplans, the surroundings etc. Such 3D visuals can be shared with the prospective clients in the form of 3D mobile apps that are optimised for smartphones.
3D mobile apps have a variety of benefits. For example, these apps can make property-viewing more accessible while providing a detailed and accurate view of the entire buildings, interiors and surroundings. Additionally, the mobile apps are highly interactive, thus making it more engaging for clients to understand the details of the property well.
According to Andreas Thoma of Gramazio Kohler Research, “The ability to digitally fabricate, disassemble, and reassemble structures with no material losses changes the paradigm of architecture as well as the view of a permanent/temporary architect.”
Many real estate companies have already started using 3D mobile apps and this technology is expected to rise to the forefront by 2017.
Various real estate businesses have already started using some of these technologies to target the right customers and bring in more sales. 2017 will witness a high implementation of these trends for improved business prospects.