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In The Cloud

Sarah Dawson outlines three technologies transforming the real estate sector in New Zealand.

By: Sarah Dawson

31 August 2016

Communication Is central to Every aspect Of the business And the cloud Has come in as a Major panacea For real estate Communication Woes – Sarah Dawson

Many people will get behind the idea that success - particularly in the realm of real estate is about quality of service. Deliver something that customers like and you might just be the force to reckon with in this increasingly competitive sector.

New innovations are helping players in real estate make great strides. They make agents and other realtors more responsive to customer queries and demands. Here are three technologies that are transforming New Zealand’s real estate industry.

Cloud Technology

Indian IT and business consulting conglomerate Infosys and US based Verizon Enterprise Solutions reported in 2014 that cloud computing was already mainstream.

New Zealand’s real estate industry is a leading sector in regards to adoption of cloud solutions. The country’s second largest real estate marketing business: the Fairfax Media-owned Domain Group just went all in on public cloud.

The company is experiencing a property boom and as such, it has decided to move all its systems into the cloud to sustain growth in its output, amid strong competition.

The cloud is a faster-response digital platform. It is currently a popular buzzword across the real estate sector. Cloud computing allows players across the ecosystem to carry out practically every aspect of the business remotely and efficiently.

Realtors are always on the go; they are in the office going over piles of papers and then on the road going to various sites. Communication is central to every aspect of the business and the cloud has come in as a major panacea for real estate communication woes. You store information on the cloud and can access it from any internet connected device… any time or place around the world.

The business can run 24/7. Internet of things Understood simply as the web of connectivity among devices, homes and people, the internet of In The Cloud things (IoT) is significantly shaking up New Zealand’s real estate industry.

The technology is taking home security a level higher, boosting automation and creating efficiency in energy management. iBeacon, Apple’s technology standard, which uses Bluetooth low energy proximity sensing to transmit signals, is fast encroaching on the real estate industry. One company that’s making the use of iBeacon a reality in this sector is Westfield Group. This multinational that owns, develops, and manages shopping centres in the US and other parts of the world, has a subsidiary (Westfield Labs) that is presently testing beacon technology to be used in different locations the world over.

3DTechnology

Realtors currently focus on providing 3D models for property listings. This is the ‘in’ thing today as far as real estate is concerned. Property buyers love the 3D models as a solution to the typically gruelling house hunting process. With 3D walk-throughs, customers view real estate listings deeply, exploring inside of these properties without the need to visit them in person.

Some recent data show that those who are seeking to buy new homes are spending up to 52 percent longer time on Project Profiles with 3D tours compared to other listings.

Property developer BPM has partnered with technology firm Scann3d to launch on the internet what is currently seen as the first self-guided 3D walk-through on the planet for unfinished apartments.

This is just an exemplar. But as it is, the industry is growing fast, and 3D is quickly becoming a vital part of this growth.

More technologies may come up. A lot more still exist that have not been mentioned here. Whatever happens, these are the three real estate technologies that are likely to outlive the industry itself.

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