Fri. Jun 14th, 2024

The integration of disruptive technologies in real estate activity allows working more efficiently and productively, in addition to automating processes and lowering costs, something very necessary for professionals in the sector to respond to its growth.

More individualized customer service, data management, customization of offers, and automated valuations, some of the benefits of the use of artificial intelligence and Big Data in the professional activity of the real estate sector.

The real estate sector has been one of the most agile when it comes to carrying out its digital transformation, a process that has been further boosted by the arrival of the pandemic. And it is that now, the sector is reflecting a recovery and important growth due to the interest that investors and individuals have in acquiring real estate. In this article, the team of ahsas program is here to help you.

 

In this sense, it is essential that professionals in the sector digitize processes and integrate technologies into their daily activities in order to work more efficiently and productively. Artificial intelligence, Big Data, Machine Learning, Virtual and Augmented Reality, or home automation are just some of the trends that have gained the most prominence in this regard.

The Proptech ecosystem at park view city housing society islamabad brings together more and more services and tools whose objective is to offer digital services to respond to the needs of clients and professionals in the sector. In fact, the new digital services have made it possible for the sector to maintain a relatively normal activity with the state of alarm and the strict confinement experienced in 2020.

All this, thanks to the possibility of continuing to carry out daily activities remotely through digital services such as virtual home visits, automated property appraisals (AVM), or even closing transactions by signing contracts online.

But how can these technologies be applied in the activity of the sector to respond to the boom in real estate activity? The experts from the Institute of Valuations explain it:

1. Artificial intelligence and Big Data for better customer service and personalized service offerings

Whether for managing and managing properties, offering customer service, managing user data or automating tasks, professionals in the sector are increasingly using systems and tools based on AI, Big Data or Machine Learning that allow them to work more efficient and productive, in addition to optimizing procedures and lowering costs.

A clear example is the use of artificial intelligence to improve customer service through chatbots. This tool streamlines and increases the response capacity of real estate agencies and professionals to customer inquiries, being able to resolve their doubts or incidents at all hours, and obtaining information on what they are looking for, without the need for an intermediary agent. Further, artificial intelligence has also brought facilities for data management and the personalization of offers.

 

 

 

For their part, thanks to Big Data, professionals in the sector have key information to be able to make the most correct business decisions based on real and objective data, in addition to being able to innovate in the business taking into account the needs and desires of their potentials customers. Massive data analysis allows, among other things, to predict, plan and make decisions, and can be used in processes such as strategic city planning, property appraisal, and valuation, or in construction to optimize the use of space and resources.

2. Automated property valuations to lower costs and increase efficiency through technology

Despite the impact of the pandemic, automated valuations have recovered their growth rate. And it is that this valuation model takes advantage of disruptive technologies to lower costs and increase efficiency since it does not require the physical intervention of an appraiser or other procedures that are usually necessary for traditional valuations. In addition, it allows various assets to be valued simultaneously thanks to intelligent systems that, through big data and artificial intelligence, analyze the information associated with the assets and their locations, issuing an appropriate valuation.

An example of this would be SMARTA, the leading software in the Valuation Institute market that not only has its own calculation algorithm for this type of valuation but also has a data processing, analysis, and representation system based on big data and artificial intelligence. A factor that allows the appraisal entity to be at the forefront in technological services related to the real estate sector such as automated valuation models (AVM).

Looking ahead, this model is expected to experience exponential growth mainly due to two factors: on the one hand, the regulatory assumptions in which this type of valuation is allowed will increase, and on the other, the calculation models, as well as the data used, it is getting better and better. Thus, these evaluations are presented now, and in the immediate future, as a very interesting service for customers.

3. Home automation, robotics and other smart tools for an eco-friendlier construction and use of homes

One of the great benefits that digitization and innovation offer to the sector is the possibility of making constructions and daily use of real estate more sustainable. For example, installing charging stations for electric vehicles in car parks or having solar panels on rooftops to obtain energy from renewable sources, are some of the actions that can be carried out in new constructions to increase their level of sustainability.

In addition, the Passivhaus buildings that seek to reduce the energy consumption of homes stand out. On the other hand, new techniques and tools such as robotics, 3D printing, or the Building Information Modeling methodology have been integrated into construction to streamline and automate processes.

On the other hand, in day-to-day life at home, having smart home systems that help manage energy consumption more efficiently is a factor that could greatly contribute to savings and sustainability.

These are home automation systems that help control electricity, water, or gas consumption, allowing users to program their schedules, set the optimal temperature, and monitor their consumption. All this with the aim of optimizing spending and reducing it to the minimum possible. For more information, do not hesitate to go to Propertynews.pk, where a team of professionals is always ready to help you.

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