The real estate industry has never stopped and never will. But it will certainly change, because the world is changing and requires a revolution in this area as well. Faster, more efficient, more delocalized and primarily by providing for the use of increasingly eco-compatible technologies. Here are four ways the real estate sector is changing.
Eco sustainability, always and in any case.
Individual efforts also and especially in the real estate sector can really create a positive impact. Starting with the circular economy. The appliances of the future will be built with a focus on how to reuse, repair, renovate and recycle existing materials. Several companies are already rethinking the way they design and manufacture their products.
Another aspect to be taken into close consideration will be the management of water resources. Reducing water consumption will be increasingly essential. How? For example, with the use of humidity sensors and leak detectors, they are used to identify potential leaks. But also of low-flow faucets, shower heads and toilets that can reduce water consumption by 30-50%. Another good tool can be shower timers which help reduce the amount of time spent in the shower.
Households are responsible for nearly 75% of global greenhouse gas emissions. Therefore, in addition to water management, it will be essential to improve energy efficiency, both in electricity consumption and in the conversion to green energy sources. This is the case, for example, with the adoption of solar energy or magnetocaloric food refrigeration systems. The same goes for washing machines which can make washing cycles considerably faster and more sustainable.
More and more “meta” trades
Among the tools with which new trades can be carried out, it is impossible not to mention the metaverse and NFTs.
Using the metaverse to buy new properties is a way to monetize goods and services and earn profits. To do this it will be possible to use cryptocurrency (virtual currency). Ethereum (ETH), SAND and MANA are among the most used in the different metaverse platforms.
NFTs are unique digital objects stored on the secure blockchain system. People can buy or sell their property completely online. And there are many cases in which various properties have been purchased and resold in this way. The NFT market is constantly expanding. Selling properties like NFT could actually speed up the home selling process.
Public records, MLS, preliminary assessments, building permits, will be performed without an on-site inspection. This type of evaluation can benefit everyone involved in the process, from the appraiser to the home buyer. For the appraisers it is a time saver as they do not have to plan the inspection and go to the site for measurements. As appraisers save time, it will also impact lenders and agents. The assessment will be given within shorter deadlines.
Finally, virtual reality will allow easy trading around the world. Not only that, it can show a property that has not yet been built or a property to be optimized and restored, already in its final phase.
Security ready to hand.
The home automation sector is rapidly developing. A smart home is a home furnished with devices that can be remotely controlled from a phone or computer. These houses give the possibility to control the various devices at any time, even on vacation, to make sure that lights are not on or to remotely manage the safety of home. Smart homes were initially considered a luxury, but technologies are now becoming more and more affordable.
Building Information Models allow architects, engineers and contractors to work together on the same floor for a building. Thanks to BIM, it is possible to work together on the design, construction and operation of the building, faster and with fewer errors. This will allow real estate experts to work on multiple properties.
Thanks to artificial intelligence, however, real estate experts will be able to access all the information of the houses very quickly. The data collected will simplify the prediction of house values, speeding up all decision-making processes. In the long run, early adoption of AI will lead to significant savings of costs and CO2 emissions, increasing productivity, efficiency, profit margins and returns for its investors.
Another technology that will be at the service of the real estate sector will be the IoT. This system allows to connect many devices together in real time in order to manage all work processes in a more intelligent and automated way. Unlike artificial intelligence, the IoT is an automated system capable of improving its performance.
Finally, the use of drones for the real estate sector can help visualize a building from an aerial perspective. This would guarantee everyone a better view of the property or asset even from different perspectives.
Guarantee the right to housing.
Crowdfunding will be the tool of the future to facilitate democratic access to the right to housing. These are platforms that raise funds thanks to donations from individuals in order to finance new businesses or projects. If used for the real estate sector, this would offer the possibility of creating new potential investors, allowing companies to be able to find financing. This technology is proving to be very effective, which is why, in the face of this popularity, there are more and more crowdfunding platforms in circulation.
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