Now the iPhone X is out, the doors are wide open for augmented reality (AR) to march through and stake a claim for itself at the center of our digital lives. Whilst AR glasses and contact lenses are still a couple of years away from adoption, smartphone-enabled augmented reality is here, and property developers and even retailers are ready.
Having worked on Luxury Hotels, Retirement Homes/Villages, Resorts, the largest private residential ship on the planet, condo’s and affordable house and land packages and numerous Developers over the years, I have always been passionate about real estate, exceptional customer experiences and delivering amazing experiences too. In fact, I even received my own Real Estate License to sell property in New York City. I have even done a couple of multi-million dollar ‘fixer-uppers’ too! (I even love The Real Deal and regularly reader too!)
So, here are some of the tools that have really caught my eye over the last decade:
- Augmented Reality – Simply, Augmented Reality in my mind is all about Interactive Print. Add value to your printed material e.g. brochures and leaflets. Put in videos of the properties – we have had some developers put their development updates in the augmented space e.g. have one page to show videos that will change every 2 months with a new video of the development as it gets built – put slideshows of images onto printed material so that when you hold over a tablet or phone they can see additional imagery. Put interactive elements into the print e.g. surveys or twitter streams. Basically you are adding value to your literature.
Take it a step further and look at Geolocation AR. As all tablets and phones have GPS sensors inside they can pinpoint your location. Some app developers are using this to great effect by overlaying information about landmarks nearby to offer the user a greater level of knowledge.
Funda, a Dutch property portal decided to use Geo Location and overlay their available properties into the viewfinder. You can see this in the video below which is a great example of using this sort of technology for Real estate.
- Virtual Reality – VR is a newcomer to a real estate industry heavily focused on customer experience and ease of access. New technologies are allowing people and home buyers today to explore if a property might look like with your own furniture, setup and style.Virtual Technology is looking to fill this imagination gap through the use of virtual and AR, giving buyers and sellers a new way to experience properties. This is a rapidly expanding area and growing dramatically today. In fact, some research today even indicates using VR will even increase the average amount of time spent on an ad between three to six times! Now thats POWER!
Picture: For real estate, the potential of VR is becoming a reality quickly.
3. Helicopter Drone Video Production. Helicopter Drones have really taken off in the past few years (even Amazon, UPS, DHL, etc.) being able to show 360 degree panoramic videos to show people views from apartments not already built yet. The potential is endless. Take city developments. It is wonderful to be able to film the location which is often difficult in an urban environment and to be able to give the potential buyer an idea of just how well located the development is. This is also the case for international developments.
4. Google Glass and other wearable tech
5. Artificial intelligence and property search
6. Crowd Funding mortgages
7. Big Data and interactive 3D building models
The property market for tomorrow needs convenience, immediacy, transience and ease. Technology and innovation will shape these three factors, but an awareness of data is integral, both for building and planning of developments, but also for shaping your company’s future, by understanding the consumer marketplace.
With Internet speeds only accelerating and most connections will be 1GB as standard – this will impact all demographics, and people at work and home. Importantly, the Internet will define people’s relationship with technology, and in particular, as we are concerned with here, property technology.
Bottom-line – Thanks to new developments in real estate tech, the days of ‘only imagining’ may soon be behind us. With todays technology improving home touring and selling efficiency, buying sight unseen, fixing and flipping rapidly, improved advertising and quality leads PLUS, improve tenant communication.
More about Geoff De Weaver:
Super strategist who directs Fortune 500 clients to define their vision, create a strategy, and harness their internal innovation to grow their business or reinvent their products. Expert at building and transforming brands, businesses, and digital and physical customer experiences at scale.
History of success developing and executing cross-channel global marketing campaigns to drive brand positioning, equity, and awareness while increasing engagement and sales and loyalty.
Innovative entrepreneur, author, speaker, and advertising executive with vast expertise driving business growth, reinventing brands, and implementing global marketing campaigns. #AskGeoff
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