After the COVID-19 pandemic, Property Technology is more than a catchword in the real estate industry. This is because the pandemic causes an increase in digital metamorphosis in various sectors, including real estate. Following PWC’s publishing on Emerging Trends in Real Estate 2021, the study shows that the dialogue of Prop–Tech has transferred from a style to a need for real estate companies.
Even with the vaccine turn out, people are still anxious for their safety and depend on digital experiences to do everyday tasks. Buildings that serve as get-together centers for the public, like workplaces and restaurants, are locked down. Also, over 35% of the workers began to work online from home.
Let’s now see top technology trends in the real estate industry in 2021ю
1. IoT Software Development
The use of IoT software is one of the top-rated technological trends nowadays. It covers all aspects needed for engineers, software developers, and those who are regular apps users. IoT technologies allow fast connectivity and help to automate a lot of routine tasks. IoT development programs offer a lot of services in this field by using advanced technologies.
2. Location Safety
Property holders are now more interested in making their properties safer and handier by carrying out contact-free experiences and installing an emergency alert system for residents. And For those who are in the hospitality industry, building trust is more important. Guests require assurance that they are secure and there is no danger from fellow residents.
3. Automated Mail Handling:
To manage and decrease the over-power faced in mailrooms, Property managers have to induce mailroom management conclusions. An automatic mail handling technique like Mailroom by Package X serves to notify you about recipients and their bundles with a touch of a button without any follow-up procedure with recipients. Mailroom handles all notifications, so you can quickly note all packages through QR codes are not fixed calling or sending emails.
4. Facility and Space Managing Software:
Facility and space management software will allow you to maintain correct data and use them to make financial decisions. For example, offices need a plan that fulfills the social distancing rules of space during a pandemic. All Companies will need this management software that will guide them to make a working space where employees can succeed
5. Touchless Tenant Experiences:
The outbreak of covid-19 causes more need for touchless or without contact experiences. Most people are looking for ways to avoid the virus. And wash their hands more. These Technologies can add touchless experiences like smart lobby doors, opening elevator doors. In conference rooms, there are automatically cleaning handles and motion sensors without touching the buttons.
6. Cyber security
Modern buildings, due to how they are designed, are at constant threat of Cyber Attacks. Cyber security violations have a beneficial impact on Real Estate holders and managers because this is a business concern and an IT issue.
In a 2021 report on Real Estate Industry Disrupter importance, the rank of Cyber security technologies on the scale of 1-5 was 3.67.
This causes more investment in cyber security. The consolidation of original home technologies makes it essential to keep citizens secure from cyber threats.
7. Omni channel-Communications:
Property managers use Omnichannel communication systems to deliver a persistent and unified customer experience for residents and homebuyers. An intelligent Omnichannel communication CRM system offers you the data that can be used to predict demand and plan an easy home selling, buying, renting experience for clients
8. Durability Technology
Today Real estate industries are searching for innovative technologies that can reduce excretions and enhance greenery. Companies like Microsoft aim to encourage integral development and low-carbon business practices worldwide by maintainable business practices and cloud-empowered technologies.
9. Digitized renting Processes
The renting process has been updated. An ergonomic, practical tour can distinguish between selling and buying real estate in today’s competitive market. When practical tours are accessible, A 130 percent rise in bookings is seen for 18 to 34-year-olds.
10. Building Information Technology
Construction projects are safer due to BIM technology because they can be performed through remote conference equipment. Moreover, any possible risks can be incorporated into the model by better designing and various activities across the stages of the construction process.
What is Prop-Tech?
Real Estate Technology or Property Technology can be defined as a combination of information technology (IT) in the real estate system that assists companies and individuals in researching, managing, buying, and selling real estate. Some examples of Property Tech are mobile applications, IoT (Internet of Things) websites digitized interactive experiences.
The covid-19 has changed the peoples living, working and using real estate. Real estate owners are searching for solutions to fulfill client demands through these unsettled times to help them flourish, give cheerful customers, and render experiences that ensure success in business continuity. Above mention ten technologies have provided them with more opportunities to succeed in the real estate sector.