Up-and-coming technologies are not only shaping the commercial real estate industry but also are changing the way real estate professionals interact with properties and use them for business purposes. If you follow the top real estate podcasts, blogs, and more, you’ll come across a number of innovations designed to propel your career.
Following are five real estate technologies changing the commercial real estate landscape as well as information about how you can incorporate these innovations into your work in the industry:
- Smart Sensor Technology. Smart sensor technology is an affordable innovation available in the real estate industry. It allows people like property managers to make changes to the conditions in their properties using instant reports. Because this technology can monitor both people and objects, it helps real estate professionals gain more insight into the inner workings in and around their buildings and maximize their business decisions.
- Drone Technology. Drone technology is a second discovery to utilize in the real estate industry. It provides a visually detailed way to communicate information and is changing the way people, such as investors, view properties. This technology affects site selection, as it shows real estate professionals properties from different viewpoints to better inform their everyday business decisions.
- Big Data Technology. Big data technology is a third accessible development in the real estate industry. This advancement makes it possible to process large amounts of data from a number of sources at the touch of a button. Because this technology allows everyone from investors to brokers to access data while on the go, it offers insight into developing trends in the industry and presents opportunities for growth over the web.
- Beacon Technology. Beacon technology is a fourth novelty on deck in the real estate industry. Through the use of mobile apps, it gives users the ability to listen and react to signals from beacons in the physical world. Because this technology sends hypercontextual information to app users in different locations, it makes understanding different positions and communicating with these surroundings easy for real estate professionals.
- Cloud-Based Technology. Cloud-based technology is a fifth easy-to-use innovation applicable in the real estate industry. It lets business leaders share information and collaborate on projects online. Because this technology can make everyday business dealings faster and easier, it ensures that real estate professionals have up-to-date information and can pass along things like paperwork anywhere in the world.
These five real estate technologies are changing the commercial real estate landscape and are effective ways to enhance your work in the industry. If you listen to the latest developments on your way to work or read about them during your lunch break, you can stay abreast of these and other recent developments and use them to your advantage.
These technologies have the power to revolutionize the way brokers, investors, and other professionals interact with properties. If you have questions, call us today at 703-218-3600 or click here. To review our real estate articles, click here. To learn more about MCB’s real estate practice and our real estate experts, click here.