Nowadays, thanks to technology, we are able to look for a flat in a comfortable and quick way. We live in a digital world that moves forward at breakneck speed making every single profession conditioned by this circumstance. Some time ago, in this blog, we wrote an article stating that technology had reached to stay in the real estate sector. Also, we pointed out that more and more start-up businesses rely on technology to serve their clients. We only have to click on our mobile phone to make a reservation in a restaurant, to buy theatre or cinema tickets or even to extend the parking time of our car. In addition, intelligent buildings are increasingly more common in our society. Therefore, it stands to reason that technology is the tool which will help the homebuyer. At present, there are some applications and technologies which can make life easier for the homebuyer. Let us analyse them.

PROPTECH

Proptech is a term formed by the English words property and technology. It refers to all the real estate services that can be done through technology. Therefore, every application listed below, is part of Proptech. Actually, they are all platforms which help the homebuyer find the desired property.

ARTIFICIAL INTELLIGENCE

Some years ago, just to think about a robot learning facts provided by human beings, seemed part of a science fiction film. However, at present, this is what happens when a platform shows us property which meets our requirements. Even though there is still a long way to go, this technology is being implemented in the world of real estate.

VIRTUAL REALITY AND AUGMENTED REALITY

These are two different things. On the one hand, there is the possibility of choosing the virtual tour in order to have an accurate picture of the property characteristcs without having to visit it. This implies saving a lot of time both to the client and to the agency, as with this technology there is no need to arrange a visit. On the other hand, the augmented reality includes images of 3D objects. This allows us to get an idea of what the room will look like after refurbishment or after changing the decoration.

BLOCKCHAIN

What does this term mean? It refers to a payment technology which handles decentralized transactions using cripto-currencies such as Bitcoin. Blockchain is already being used in the real estate sector to develop data bases regarding realty or to make property registrations.

BUILDING INFORMATION MODELING

This term also known by the initials BIM, refers to the building automation system. It is a method of work which affects the design and building processes as well as asset management. The BIM, leads to a collaborative working framework among every single agent related to construction (architects, builders, property developers…). This is carried out through a virtual model which gathers all the information of the building.

5G

The use of 5G will not take place until 2020. However, this technology is already taken very much into account. 5G will speed up mobile device connections and thus, greatly improve the search for property.