How The Internet of Things (IoT) Is Transforming Real Estate Management

By Subodh / March 11, 2016

Scientific and technological advancements and developments are taking the world by storm. And these are reaching common people impacting their daily lives in the best possible manner. The Internet of Things (IoT) is a new addition in the technological arena. If you are not very aware of the concept, brace yourself and know it real fast. To put in simple terms, Internet of Things is a concept in which various devices and instruments are connected on and off to the Internet by various means. It can be a total network of physical things, which are embedded with sensors, network connectivity, software and electronics so that the objects can collect and exchange data. IoT will connect people to people, things to things as well as people to things in a hassle free manner.

IoT and Real Estate Management

The best thing about this technology is that no human intervention is required in the same. The various objects can be controlled and sensed remotely across any existing network infrastructure. With integration of computer based systems and the physical world, higher accuracy, improved efficiency and great economic benefits can be obtained. It has been estimated that by 2020 almost 50 billion objects will be connected via Internet of Things. This smart technology is being implemented in various industries to reap the benefits of the same. Some of the common industries include infrastructure management, real estate management, media, transportation, energy management, manufacturing industry, medical and healthcare industry and so on.

Real Estate Management and IoT – The Connection

With Internet of Things making foray into our daily lives; it has made a great impact on the real estate industry as well. Different kinds of IoT tools are being designed exclusively for real estate; there is great potential for changing the way the real estate industry works and looks today.

  • Concept of smart homes – Demands of smart homes are increasing significantly all across the globe. These homes come with smart home devices, which have the capability of recording and transmitting data, making work easier. Various devices have been designed and used in smart homes giving the structures an additional edge over other houses.
    For instance, Nest is a thermostat, which can be controlled by a smartphone even when you are far from the house. If you forgot to shut off that air conditioner before leaving for the vacation, you can do the same from your smartphone now. Nest also has integrated temperature schedule and adjusts as per temperature and environmental conditions. Along with adjustments, these IoT tools also help in saving greatly on energy consumption bills. The apps help in improved interactions with interiors, the main building and the surroundings.
  • Connected Building concept – Residential and commercial buildings come with innumerable systems all interconnected to one another. Some common systems include heating and cooling systems, camera networks, lights and electricity networks, various kinds of sensors and so on. XChanging is an excellent IoT real estate management tool so that the complex operations of the various systems can be simplified in a residential or commercial building.
    To put in simple terms, a well connected building network is being developed. Only one remote device is enough for controlling all the systems thus regulating energy efficiency and usage in real time. It also helps in minimizing costs significantly. Smart technologies for office buildings, high rise apartments, commercial retail centers are coming up fast.
  • Beacon technology – The concept of beacons has gained immense popularity with people. These are Bluetooth powered small devices, which can be mounted or installed almost anywhere. They help in data transmission to nearby receptors, which are capable of receiving data via Bluetooth. Tracking movements of people in home or transmitting information regarding activities of people is possible with this technology. Many people are using this technology for better safety and security of their property.

Home Buying Becomes Smarter with Internet of Things

Home Buying Becomes Smarter with IoT

Gone are the days when home hunting was a daunting task. Check out from the properties enlisted on the property selling sites, go and visit them, check other details and if everything seems fine, finalize the deal. Well, all this took quite good amounts of time. Now with beacon technology, home hunting and buying would become easy and simplified. The prospective buyer can now ask for a video of a particular property to be sent to him. With beacon technology taking a home tour becomes extremely easy and convenient even on a mobile device. On entering each room in the tour, customers have the option of accessing floor plans along with looking for various customization options. Many hidden aspects of the home can also be studied like the HVAC system and the building materials etc. With enhanced technology, customers are able to get details of homes in a convenient manner without moving an inch from their home.

Improving Real Estate Management with IoT

Unprecedented opportunities open up for operations and management of real estate with Internet of Things. And this is because any ordinary object can be connected to the Internet via suitable networking devices and infrastructure. With IoT tools, data can be captured and sent from any part of the building. With the speed of computer processing and data transmission increasing, accessing information is becoming real quick. Vast amounts of data and information can now be stored in the Cloud and used as and when necessary. With IoT, real estate management is reaching new dimension with the scope of exploring, relating and interacting with building structures in a new manner altogether.