Real estate company was confined to building a brick-and-cement structure for customers in ancient history. Real Estate industry is growing at a rapid pace and has stepped into the next level. Whether you are purchasing a house or getting ownership of a property involves its own hassles.
According to Bettina Tratz-Ryan, research vice president at Gartner Inc., “Especially in large sites, such as industrial zones, office parks, shopping malls, airports or seaports, IoT can help reduce the cost of energy, spatial management, and building maintenance by up to 30 percent.
Internet of Things is seeping its way into many different industries as more and more connected devices are popping up in everyday items. The real estate industry is no exception as it is also seeing an IoT boom.
From going house hunting to adjusting the light according to your interest after moving in, Internet of Things (IoT) plays an important role. IoT applications help both the buyers and lenders in the business. It is focused to create a connected world and a healthy environment for people to live and work, leading an overall quality life.
Internet of Things refers to an infrastructure of technology where devices, like lighting systems, thermostats, electrical outlets, and plumbing are connected through the Internet and coordinate to perform easy and quick functions. Through this IoT is improving consumers’ lives, but it is also having an insightful impact on the real estate industry. According to a Johnson Controls survey of the company’s Building Efficiency Panel, 70 percent of respondents believe that the ability to predict and diagnose problems and provide or propose solutions will be a “game-changer.”
Advantages of IoT in Real Estate Industry
IoT Creates Smart Spaces
Sensors and cameras installed in machines, appliances and devices collect information and communicate it to the cloud, to each other or to us. Customers are interested on more automated solutions to help their daily activities that make lives easier. For instance, a smart HVAC system at home will sense the ambient temperature and the occupant’s schedule and automatically start before the occupant enters the home.
IoT Boosts House Search Experience
IoT can change the real estate industry and overall experience of house hunting in a satisfied manner. With the help of beacon technology, buyers can view the property through photos before the agent arrives. This technology provides clients with a personalized buying experience of required information.
Better Safety & Security
IoT can inform users of any approaching danger at site and resolve it quickly. The technology can also help us in tracking of workforce at real estate location to receive emergency and safety alerts in case of any dangerous incident. A smart security system will help ensure safety by sensing and analysing regular activities in the house and notify the user of any changes or irregularities.
Good Material Tracking
The real estate industry depends on raw materials like cement, concrete, steel and much more. In such cases, Internet of Things (IoT) is helping the realtors to check the availability of the assets and stock of construction materials at site. IOT also helps realtors to understanding the inventory.
IoT predictive analytics helps the house-owners to identify and resolve the system failure before they occur. With the help of IoT powered sensors, an alert can send to the house-owners regarding any problems in the building and cameras will foresee issues related to building maintenance and to overcome them well on time. It can also predict a maintenance schedule based on energy consumption well in advance. This technology enhances the confidence of buyers and sellers before proceeding on property deals.
IoT and Technology based approach will assist real estate owners and agents to differentiate their buildings to be exclusive among competitors for tenants and even employees, as well as enhance the standard of living. IoT innovation enables agents and house owners to expand their activities in a much-elaborated way.
Acropolis as the best IoT App Development Company and Customised Software Development Company in the world, rated by top rating companies like Clutch and GoodFirms. It would take you to a unique position among Real Estate Industry.
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