Property Management – 3 future technologies

Today’s Blog is very interesting because it focuses around the innovation in property management and the exciting future that lies ahead within real estate.

  • Blockchain

  • Augmented and virtual reality viewings.

  • AI/BIG DATA

Blockchain

Blockchain, which is the decentralized system of the digital currency bitcoin. The idea of Blockchain is to track how each unit of virtual currency or ‘Bitcoins’ are spent to prevent fraud in that sense no other user can steal from another, with all transactions placed within the batches of ‘blocks’. The technology of blockchain could revolutionise the way contracts and leases are made using Blockchain, the timeline for a contract or lease would be halved thanks to the automation and processing’s of Ai which would enforce the contract, but importantly blockchain ensures the safety of all data transactions financial included.

 

AI and Big data.

Seen as the future disruption of every industry AI, which is the simulation of human intelligence by a machine, using what is called algorithms the machine can learn and adapt to whatever task they are given at a faster rate than a human, down to its processing power. What does all that mean to a real estate developer? well by putting Ai at the heart of your property management it can allow the handling of invoices, building and refurbishment management, data of tenants and perform analysis on entire buildings far quicker than a human could, this does not take away the human element though, rather it improves their job and makes property management far more easy and more efficient.

Augmented and VR viewings.

Beyond photo and video, AR and VR offers a buyer or renter a new gateway to their potential property. Virtual reality viewings allow the user to take a 3-D virtual tour of a residential or commercial property. This allows the user more insight into what they could potentially be buying or renting. Augmented reality is a fantastic opportunity for real estate marketers to offer clever and insightful content on their properties so potentially you could see how a property could look after a refurbishment.

 

Interesting articles linking to the topic

https://www.cpexecutive.com/post/ai-and-the-future-of-property-management/

https://www.attomdata.com/news/attom-insights/artificial-intelligence-real-estate-today-tomorrow-future/

https://www.forbes.com/sites/valleyvoices/2018/02/13/future-of-real-estate-tech/#60d2906e1c13

https://www.wired.com/story/guide-blockchain/

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