Technology is an interchanging factor in society that is constantly evolving, innovating and changing organisations everyday.
One&Only are here to discuss various technological trends that you could consider implementing into your property organisation.
1) Virtual Reality
Virtual Reality (VR) is used to generate a simulated reality, that is usually shown through a head-mounted display. VR has been used for military purposes, creating training and battlefield simulations for soldiers. Recently VR has been used within the entertainment industry, more specifically within the video game industry.
Most importantly VR is slowly being integrated into the property world. A company that has utilities Virtual Reality through property is Cubedots. Cudedots create visuals from floor plans, with full immersion into a realistic environment through both elevation and layouts. This enables enhanced communication with their clients, using futuristic devices such as the Samsung Gear VR to keep customers continuously interacted and engaged.
2) Augmented Reality
Augmented Reality (AR) overlays ‘virtual objects on the real-world environment’ (Liu, 2018) in comparison to VR that generates a fully simulated environment. A contemporary example that successfully implemented AR was 2016’s ‘Pokémon GO’, using your own location integrated with interactive virtual Pokémon that can be located through the application.
AR has also been integrated into the property industry in a way to create visualisations of property plans/developments trough phone/tablet applications. These apps allow a 3-D perspective on a particular property, giving investors an idea on how the property would look in the hands of their own device.
3) Cloud Technology
Cloud Technology is used in the property industry to ‘streamline and speed up the process for both commercial and residential’ purchases.
Atlas Cloud offers ‘Hosted Desktops’ that allow users to take their virtual office with them on the go. Cloud technology from Atlas specialises in protecting data allows protection from cyber-attacks, while offering disaster recovery. According to Data loss is a ‘big problem within the property industry’
4) Social Media
Social Media refers to ‘websites and applications that are designed to allow people to share content’ quickly and efficiently (Hudson, 2019). This allows your content to flourish through various platforms for free.
Using add-on's such as Facebook and Twitter ads will allow for maximum exposure for your property company, allowing yourself to target those who are interested in buying property through users and demographics. LinkedIn also acts as a viable tool, becoming a digital resume to portray your expertise by networking others in the similar field.
YouTube is also very efficient way of utilising your content through an audio-visual format that many businesses utilise than can also be shared across all social media platforms.
5) Smartphone App
Managing/investing in property is becoming increasingly easier using a smartphone application. This creates a sense of mobility, having access to your investment properties in the palm of your hand which can be accessed at any time of the day. There are a numerous number of apps available on both iOS and Android. Redbytes has a fantastic article below highlighting a number of apps for you to consider with the link below.
The future of property management and investing into property is changing at a rapid rate; we hope we have provided some insights into technology trends consider for your organisation.