How IOT is changing real estate industry?

For an industry heftily revolving around cement, bricks, cranes, water, metal and metal tools, integrating the use of the Internet of Things (IoT), seems rather far-fetched. However, at a microscopic glance, the idea is prevalent and is slowly seeping its way inside the real estate industry making it even smarter.

In a world that changes in a blink of an eye, incalculable devices are crawling their way into every other industry with each passing minute. Internet of Things (IoT) has made its place in homes, shopping malls, parking lots, commercial buildings, etc. For a generation submerged in technology IoT has a vital role in easing the life of every soul.

IoT is the devices laden with sensors that collect the data about an individual’s activity of the day and then provide it to the developers and builders. Giving them an opportunity to serve an individual in the best conceivable way possible. The developers can take advantage of the data to assess where the potential customer spends most of the time. What more could be added to the space to sustain the design that is in favor of the buyer, the developers and builders would have more options to explore to tailor the place according to the need to the customer, surpassing the expectations of the buyer with precise data. This will also allow real estate hunting a lot easier as the applications would display the properties that are best in the interest of the buyer.

Long gone are days when a buyer had to look in every nook and corner of the house to assure herself of no structural damage. But what about blocked drainage system or worn out wiring? The buyer now can seat back at the comfort of her home and check every minute detail about the potential house she has an interest, thus leveraging the confidence in property. All the data about the property would be at fingertip of the buyer even before the visit. IoT does the job and sends the report of the current status directly to the buyer, making the hectic process easy and reliable. Conversely, if the maintenance is due, IoT would generate a report stating the immediate need for repairs and what is about to expire thus saving time and, in some cases, life itself. The buyer feels quite safer in their place that it is equipped with the potential to warn them before the system failures are encountered.

Home dwellers nowadays are looking for automatic systems that take care of mundane activities which does are mostly repetitive tasks at best, IoT takes care of HVAC (Heating, Ventilation, and Air Conditioning), lights and other essential electric apparatus. Collecting the tenant’s data, the HVAC system kicks start before tenant’s return from work, making a pleasant experience and saving the economic cost of operating the system. Lights operate on the presence of the occupant, can be tuned to turn on or off should anyone enter or leave. The brightness could be adjusted to the presence of natural light available in the room. Left a switch on in hurry to work or school, IoT can turn it off, cutting cost of electricity and saving it in turn. IoT devices make any space a smart space.

IoT devices are highly energy efficient. The heater could heat the water about the right temperature without wasting any unnecessary energy in the process. The devices can detect the temperature and flow of required water at different times of the day. Tenant’s mobile gets plugged into the Wi-Fi as soon as the occupant enters the home while being away, the Wi-Fi turns off.

IoT devices will also manage the security of the places. Should there be any irregular activity, the report would be sent to the owner, making actions faster to challenge the anomaly. With security that monitors the place 24×7, a safe and reliable space can be developed without having any flaws of humans. The entrance gates to the premises can be attuned to the IoT devices, keeping away any uninvited visitors far away. A formidable control over the security of the place puts the owner at serene ease.

With exponential development in technology, interoperability will enable to take the homeowner’s experience further, making viewing, buying, selling, renting a piece of cake. Internet of Things will be the driving force in the nearby future in the real estate industry.

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