Top 10 trends in real estate technology
Real estate sector has been the witness to significant changes in recent times. One of such impactful changes has been the ingress of technology in various spheres of operation. In this post, we would walk you through 10 such momentous real estate technology trends that are sweeping the real estate segment of late.
1) Introduction of Self-Healing Concrete
Concrete is the key construction material that is widely used due to its durability and thermal resistance. Delft University’s microbiologist Hendrik Jonkers has almost succeeded in increasing the concrete’s lifecycle through his innovative self-healing concrete.
The technological breakthrough has been achieved through implanting of limestone generating microbes in concrete in self-activated mode. The microbes are embedded in concrete and calcium lactate during the construction phase.
Once the concrete starts cracking or water seepage occurs, microbes are auto-activated which repair the chink. This innovation definitely looks to be most promising among top technology trends in real estate.
2) Design of Curvilinear Structures using 3D Printing
Significant research is underway to explore the applicability of 3D printing for building construction related components. Large sized printers use specially formulated composite concrete mixture that is denser than regular concrete.
This concrete self-supports itself during setting and would open up the doors of limitless possibilities in architectural domain. With this technological stride, it would be possible to build curvilinear structures. Lower construction costs and zero deviation from the plan would also be accomplished.
3) Construction of Smart Buildings
Smart buildings rely on advances in informational technology for actuating intuitive processes that can potentially trigger operations like starting the air conditioner when human activity is observed in the room.
Smart sensors, intelligent microchips and AI are seamlessly stitching real estate and technology together for developing energy-efficient structures.
4) Artificial Intelligence (AI)
AI is going to be the real game changer in real estate domain. Intelligent modules deployed on sites’ would recognize speech of audiences, respond accordingly, and assist in solving specific problems being experienced by potential buyers.
5) Machine Learning
Machine learning, a basic component of AI, breathes in intelligence in AI module. It deciphers patterns in input streams and delivers outcomes based on identified classifications.
Complex and elaborate machine learning algorithms analyse inputs in real time and provide relevant outputs complementing the basic theme of the interaction.
AI underpinned machine learning occupies the centre-stage in contemporary real estate technology trends and can potentially convert apathetic site visitors into loyal customers.
6) Virtual Reality (VR)
VR as a technological leverage is set to revolutionise the real estate sector. Potential home buyers can be taken on a virtual walk through of the home they wish to buy.
A prospect can visualise the property from different perspectives in a visually appealing and well-lit digital ambience. With VR, you can also enhance the atmospheric effects that can allure prospects. Such effects are missing in real time physical site visit.
7) Augmented Reality (AR)
VR is complemented by AR. Through AR, your prospect can add more value to the virtual tour by being able to place furniture and other items in perspective within the flat.
This would help the prospect perceive the suitability and compatibility of potential property to his/her aspirations in aesthetically enhanced manner. AR is another technology that is reinforcing the business proposition in real estate.
8) Construction in Modular Manner
Modular construction involves building parts of the structure at the factory or in a place far removed from the actual site. All construction materials and dimensions remain the same. Structures are delivered and assembled on site as and when needed. This real estate technology has been reducing construction costs and wastes generated.
9) Replacement of TMT Bars on the Horizon
The strength of the architectural structure is directly proportional to the load enduring capability of bars being used in joists.
4 researchers at MIT have succeeded in controlling the geometrical configuration of graphene which is considered one of the sturdiest materials on earth. In the three dimensional format, graphene exhibits an unparalleled load bearing capability and is lightweight compared to TMT bars.
Research is in progress to analyse the applicability of graphene for construction projects, both ongoing and upcoming.
10) Use of Construction Drones
Site surveys are being increasingly conducted with construction drones. The progress of projects and their adherence to plans are tracked in real time through aerial pictures, maps and 3D photos being relayed by the drone. This technology is proving to be particularly useful in high-risk sites.
Real estate technology is slated to be the decisive factor in determining success quotient of realtors in coming years. Builders who are aware of the pulse of the customers and sentiments that drive the market are already in the process of embracing the same. The bottom line is that technology in real estate would certainly matter in coming days.