There are so many facets of real estate industry that are in the process of a massive transformation thanks to the IoT. We all know about smart office buildings and smart homes. How about some the other ares of the real estate business that are being transformed? I can tell you that as a licensed real estate professional myself, the intelligence that is being placed into the hands of agents, buyers and sellers has never been more powerful. Take for instance, new beacon technology. Beacon technology is automatically connecting potential real estate buyers with available properties and their selling agents as they physically enter an area with a listed property. Another area being transformed through IoT based technology is residential buildings. Building owners and developers are modernizing older buildings with new communications, connections and devices that provide security, surveillance and other services interactively. This modernization is giving new life to outdated structures, which in turn is attracting younger technology saavy tenants who demand these accommodations. The following article does a good job of detailing some of the other ways the real estate business is evolving by utilizing the IoT.
As the Digital Revolution (or the Third Industrial Revolution) gives way to the Fourth Industrial Revolution, all sectors are opening their arms to usher in new waves of technological breakthroughs, revolutionizing their modus operandi, engendering novel and innovative ways of getting things done. Even a traditional and ancient sector like real estate is not left behind in these disruptive changes as the Internet of Things (IoT), one of the most remarkable fields in this new age, utilizes its immense power of interconnectivity to shape the way and manner realtors and their clients interact with one another. Beacons, smart homes, smart buildings, smart cities — IoT is changing the real estate industry in many ways.