UGANDA, Kampala | Real Muloodi News | Just like any other industry, the real estate industry is going through major transformations because of advancements in technology. Many people are growing weary of the same trend.
For those embracing the change, there are many opportunities to be harnessed. Below are a few areas in real estate where technology has had a visible impact.
Artificial Intelligence (AI)
AI in technology is in facial and voice recognition applications in modern homes. Real estate agents also use AI technology to run their businesses and website chatbots designed to help clients look for properties.
Data
Nowadays, data is the major currency employed by businesses. Through data, businesses can efficiently target ideal customers using their website and social media ads. It is used to meet customers’ needs and make their experiences seamless. A lot of the leading realtors and other successful stakeholders in the industry (including investors, property agents, and construction companies) are using big data to have an edge over their competition.
Social Media
No technology has had a massive impact on the real estate industry like social media. Currently, it is where many buyers and sellers connect and carry out business. House listings are on platforms like Instagram, Youtube, and Facebook. With covid-19 limitations, having house exhibitions online is the new normal.
Building Technology
More advanced technology is being employed in construction not only in the machinery and equipment but also in the raw materials. Many changes have been geared towards making construction environment-friendly and sustainable. For example, 3D-printed houses can save up to 80% in costs and 60% in labour compared to traditional construction methods.
Internet of Things (IoT)
Internet of things includes the technology in smart homes, from automation to voice commands and remote access, for example turning on lights by pressing a remote or saying a voice command.
Technology in real estate will continue growing, and the faster stakeholders catch up and implement changes, the better. The more people embrace change, the more solutions and development in the real estate sector.
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