Technological Developments in Real Estate

With the developing world, we observe that technology is now completely changing the companies, business areas, and even business forms. It was on the agenda that instead of real estate investments in the past years, there was no more investment in technology.

For now, the key issue in the agenda is that the companies in the real estate sector have a competitive advantage: Digital Conversion

Augmented Reality used in construction and architectural space, Virtual Reality used in sales and management, blockchain technologies that prevent buyers from paying in the real estate sector or selling a property that does not belong to the seller, and recently, project campaigns have become social media (IRM), which is the preferred way to announce the most effective way to integrate digital media, has been opened in the real estate sector.

Traditional real estate companies have begun to recreate business models and follow digital innovations for the past decade, taking into account the benefits provided by emerging technology companies.

What did happen with the innovations of the digital integration era in the real estate?

  • As the product quality increased, the selling costs
  • New business areas with technological innovations
  • New digital investment areas have developed in the

With the increase in the company's operational efficiency and the importance of Real-time data which plays an important role in reaching the target market, the sales speed of the technologically oriented companies has increased remarkably.

Technological developments took place in many areas such as leasing, management, urban planning, market research, trading, construction, and architecture. We can list the important technological developments that are developing in these fields and used today:

In the field of Urban Design;

  • Urban design software
  • Virtual reality and simulation technology
  • Special mapping data platforms
  • Satellite technology
  • Sign technology

Sales and Management;

  • Portal Discovery Tool (Discovery Tool)
  • IRM (Customer Experience Management) Program to raise the company's voice, provide real- time data and announce project campaigns most effectively through social media integration
  • CRM (Customer Relationship Management)
  • VR (Virtual Reality)
  • Online mediation
  • Blockchain and crypto community and apartment sales with alternative global currencies (Bitcoin, Etherium, Ripple ... )
  • Bringing together the offline customer online with the use of VR Readers that present 3D reality with how you will look when it is completed, when you view it on the Internet, in a magazine or on a billboard, and when you upload a newly launched real estate to the 

Construction and Architectural Area;

  • The integration of Augmented Reality (AR) Technologies into AutoCAD 's design and design of landscaping, construction and architectural design with all the details and live visual reflections while still in drawing stage
  • Intelligent building and artificial intelligence technologies
  • Project and most effective cost management programs
  • Sign technology
  • Workforce and performance management program

Rental and Management Area; 

  • With IRM Program, reaching the right target influencer with simultaneous and up-to-date customer data and setting management strategies
  • Peer-to-peer leasing program
  • Target market technologies
  • Lease and income management software
  • Intelligent building and artificial intelligence
  • Indoor marketing technologies
  • CRM and leading management solutions
  • Developed company-based automation programs including property marketing and sales solutions including social marketing and marketing

 

When we look at the numerical reflection of technology on the global growth of the real estate sector, it is as follows; With the integration of technology into real estate since 2012, the global capital budget has doubled, while the allocation of 166 billion dollars in 2012 has risen to 320 billion dollars in 2016. In the same period, companies RealTech venture capital financing increased 1,200% from 221 million USD in 2012, raised up to $2,6 billion in 2016.

Even today we are following real estate trends from websites and blogs, isn’t it like an evidence that technology and real estate are inseparable?

 

 

Author : Dilara Sur, Sales and Project Manager at Social Internet

In Social Internet, Dilara is responsible for HQ Sales
Operations in 15 countries and project management for international brands.

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