People have said time and again – real estate is the best business there is. This is true. People will always need space, whether to live in or to work. That being said, the real estate industry is immense, with countless moving parts. For today, let’s focus on real estate development and the impact technology will have on it in the years to come.
|Image source: Guardian.co.uk|
First of all, traditionalists shouldn’t worry about technology changing the landscape of real estate. Tech only facilitates its internal workings. For real estate developers, new tech presents new ways to develop and market properties.
Nowadays, virtual tours of homes, apartments, condominiums, hotels, malls, and other properties, even before these structures are built, are available to investors and buyers. This has never been done before. Sure, there are scale models built by architects for people to check out, but never with virtual tours.
Real estate developers know only too well how hectic their days can be. Mobile technology has all but assured developers that they can work on a project from almost anywhere. Developers can check projects real-time with foremen live-streaming the construction, especially if they (developers) need to be somewhere else.
The construction of a project itself has already benefited from technology as more machinery is built and developed, and new construction techniques have allowed for the quicker completion of projects.
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Can you think of any other technological advancements that can help in real estate?