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3 Real Estate Technology Trends And Their Impact On Commercial Real Estate

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3 Real Estate Technology Trends And Their Impact On Commercial Real Estate

The commercial real estate industry was totally divided into segments in the last few years, with brokers and developers having all the information and power. It didn’t have much technological advancement and was completely disjointed. With technological advances and availability of information to consumers, the scenario started to change. Here are three real estate technology trends which are impacting the commercial real estate:

Shared Working Space

Office sharing is now becoming hugely popular and so are other options for co-working like – sharing via PivotDesk, a platform that provides management platform which allows host companies to more easily market, manage and monetize their extra office space; renting office spaces by the hour through sites like Breather and space rental for events through Splacer, a company that offers creative spaces and venues for events.

Many start-up companies don’t have the budget to lease an entire office but might consider renting out a small place on the co-working basis. Big companies capitalize on this by leasing out unused space in their office which not only reduces their rental cost but also presents an opportunity for collaboration beyond regular business.

Demand For Internet Of Things (IOT)

With growing decentralization of workspace, the demand for more information about different locations is increasing. IOT makes it easier for you to monitor and manage this information because it allows an administrator to view, manage and monitor information about every location from anywhere in the world. It is highly advantageous for start-ups as they can monitor their office from distance with the help of IOT.

Commercial real estate is the perfect industry for the developers of IOT as it can cater to enterprise level contract and many business houses which are technologically incompetent. The demand for IOT will increase but it may not become a one-stop solution right away as many buildings are unable to support it. However there are certain simple IOT technologies which do not require any extra credentials, but if start-ups want to use high-level technology then they need to search a special property and pay a premium.

Virtual Reality and Augmented Reality

Virtual Reality and Augmented Reality help consumers to take remote tours from anywhere in the world. They can easily plan an office design and have a better understanding of architectural details.

Commercial real estate broker houses and business firms have now introduced VR into office leasing as well. VR and AR mock-ups help them to have a more realistic insight of future offices which also guides them to plan their business growth. For example – they can give virtual tours of offices which are still under construction.

From a consumer point of view, AR tours help them to visualize their office and watching it getting converted into a design concept in front of their eyes. Since they are able to visualize things through a 3D headset they can also foresee transition of the place.

These real estate technology trends will continue to have a huge impact on commercial real estate. The concept of co-working and shared workspace will grow further with technology ensuring more connectivity between people and their visualizations making the business stronger.

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Appoint Housecraft App For Your Interior Designing Job

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Do you have a knack for interior designing? Did you always dream about being an interior designer but could never really get a head start at it? Is your home in a dire state for a revamp? Do you like to change your interiors often?

If your answer is yes then we have the perfect solution for you. The answer to your prayers is the refreshing Housecraft App. The app is available only on iPhone App Store for free.

It is a fairly easy app that can be used to design any interior living space with the choice of several pre-fed furniture and décor items. You can use your phone’s camera and watch the power of augmented reality to place fully rendered 3D models anywhere in your world.

For example if you want to redo your living room. All you have to do is open your phone camera and scan the room. You would be surprised at how accurately it takes measurements. It then lets you drop all the furniture you can think of. You can resize each object so you can customize it according to your room. Plus, you can admire objects from any angle, in any light! Once you achieve a set-up that you like, you can save it for later reference.

The app is a break through at many levels. To start with you design your own home and test it on the app so you can actually see the outcome of your design. For people who like to mix and match and change décor items on a regular basis can use this app for better visualization of their ideas. It is easy to save room configurations and try them out anywhere. Thus great help in apartment hunts, reorganizing a room, testing how new furniture will look, and more. With their video recording feature you can share your creations with your friends or family.

Also Read: 5 Real Estate Tech Startups in India You Can’t Ignore

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5 Real Estate Tech Startups in India You Can’t Ignore

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5 Tech Startups in India You Can’t Ignore

The real estate sector is one of the biggest contributors to the country’s economy. It is no wonder that the sector is booming with newest technologies that are changing the age-old industry norms and raising industry standards. Here are five tech start ups that you need to take note of:

NESTAWAY

5 Tech Startups in India You Can’t Ignore

If you have ever faced a rental problem and most of us have, this is the thing that you need. NestAway is India’s home rental network for singles that offers rental solutions via latest technology and best design.

Founded in January 2015, NestAway is an app that lets you find, book, pay, move-in and out of a rental home anywhere in India. They basically manage both parties in a rental situation and turn unfurnished houses in to furnished homes and offer them at affordable prices on sharing basis. Deepak Dhar, one of NestAway’s four cofounders, says “It’s a new concept for owners and a solution for tenants. Plus we’re solving the youth housing crisis of upwardly mobile urban migrants in cities.” It began in Bengaluru and today is spread in 9 metro cities of India.

Website: nestaway.com

NoBroker

5 Tech Startups in India You Can’t Ignore

A Bangalore based real estate search portal, NoBroker eliminates broker and directly connects flat owners and tenants. Founded in 2014, NoBroker claims to work on the basis of technology that identifies and abolishes brokers. Started as a rental platform, they have now forayed into brokerage free buy/sell property as well. They verify each listing to make sure they are owners and no middlemen. They offer maximum information in the most accessible format, thus saving you time, money and energy to actually go physically hunting for house.

Website: nobroker.in

SmartOwner

5 Tech Startups in India You Can’t Ignore

Find the biggest market for investors here; all the opportunities that you won’t find on general market. SmartOwner brings forward some of the carefully curated investment opportunities from the fastest growing cities in India. Projects are vetted by law firm after meticulous checks. It verifies all the listing to make sure the pricing and specifications are in line with the market trends. Thus it offers well calculated risk and returns. People benefit from the curated high-return opportunities.

Website: smartowner.com

Approach

5 Tech Startups in India You Can’t Ignore

Approach helps you to conveniently and accurately manage scientific data which enables you to grow your business strategically instead of hit and miss methods. Real estate is a growing sector and it needs such solutions where management can take accurate decision based on solid data. Approach lets you manage your inventory from any location. Cloud telephony lets you track all your campaigns and calls from anywhere. Automated SMS and Email Marketing allow you to connect with your audience and also offer in-depth analytics of click-rate and subscriber activity. You can now even calculate the returns on investment from all your media spending and campaigns.

Website: approach.one

GrabHouse

5 Tech Startups in India You Can’t Ignore

Established in 2013, Grabhouse is a no broker website that helps people find flats, flat mates and tenants quickly and without much effort. It is the first venture that is a 100 percent broker free house renting platform. It is able to achieve this by using powerful technologies that allow stakeholders to enhance their business. Their target group lies between 18-28 years; they are mostly students or young professionals who are looking for decent places to stay while saving a buck. Even on-ground assistance is provided after lead generation for a nominal fee.

Website: grabhouse.com

 

Also Read: Technology And Real Estate: Reaching New Heights

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Alibaba Now Enters Housing Rental Market In China

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Alibaba Now Enters Housing Rental Market In China

Alibaba, the Chinese e-commerce giant, signed an agreement with Zhejiang province to use the company’s technology in order to build an online system for house rentals. As per the agreement, this system will include all the apartments that are put up for rent by an individual, government, developers as well as agents.

The Xinhua news agency reported that the Hangzhou City in Zhejiang province will be able to use this application to seek houses on rent. The website by Alibaba will help people at every stage of the procedure, right from searching for a home to apartment contract signing and later payments.    

Han Junqing, director of Hangzhou Real Estate Registration Center, said, “Information on apartments, user reviews, and credit ratings of owners, renters, and agents will all be shared.”

The system is called the Smart House Renting System and will be supported by Alibaba’s technology, data, and commerce credit system. The government sources have revealed that it can prevent fraudulent deals.

At present, the housing rental market in China is dominated by real estate agents, and fraud and disputes are not uncommon in all the major cities. There are big real estate players with their own apps however that information is not shared with others.

People seeking homes for rents often have to refer to different apps and compare their offers as these companies lack the Zhima Credit from Alibaba subsidiary Ant Financial’s which is a much more mature credit system.

The government of China is prioritising the rental market’s development to rein in runaway home prices in the country’s big cities. The Central government chose Hangzhou among the first 12 cities to take bold reforms to boost the rental market.

Also Read: Technological Solutions That Are Helping The Commercial Real Estate Industry

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