The Rising IoT trends in Real Estate You Need to Know About 

According to PWC research reports, more than 73% of real estate business executives are already investing in some form of IoT applications in their companies. What are the trends and top uses that are making this change happen? Take a closer look. 

• Better HVAC system 

The USA alone wastes more than 68% of energy, as was said by WeForum market research. This increases the carbon footprint of real estate buildings. The present generation of home buyers and tenants are very energy-conscious people, and they want to have better systems in their homes to help the environment even if they have to pay a little more. 

A heating, ventilation, and air conditioning (HVAC) system of any building functions and works within the same network; they can all be connected on IoT. The tenant can stay in control of the heating and cooling system of the property, and they can even regulate it remotely to make the place energy-efficient and save power and money. As a property manager, you can use better technology selection to revamp and streamline these systems to make them more eco-friendly and sustainable. 

• Eliminate bottlenecks in CRE 

Commercial Real Estate faces a lot of bottleneck situations given the vast number of people they have to deal with. IoT applications have seen a rise to clear such bottlenecks when there is a parking space issue in a commercial property; an IoT device can pre-detect vacant areas or suggest alternatives and make life hassle-free for business. You will get a better user experience and greater customer satisfaction in the process.  

• The efficiency of energy usage with sensors 

There are new IoT devices in the market that can track and check the energy usage of your properties. They are fitted with heat sensors and can even self detect energy losing areas where you have a chance for improvement and repairs. This can help optimize your resources to the fullest and have a positive impact on your ROI and the environment. You can even get Energy Star tags for your home appliances to make the whole property greener.  

• Smart home appliances are on the rise 

Smart homes are slowly becoming an everyday reality for the urban crowd. Most homes have at least one smart device their homes if not more. These devices can follow commands because they are all IoT devices and can be handled remotely. You can pre-feed instructions and get work done with a few clicks from your phones when your smart devices like ovens, fridges, TV sets, vacuum cleaners are all connected to the same web network.  

• Increasing property values  

Using top-notch technology, devices, and amenities to increase property value is a tried and tested method in the market. More property managers are providing advanced devices in their real estate properties to drive sales and increase the overall sale valuation of the properties. Millennials are demanding such smart houses which are more eco-friendly; they are even ready to pay higher rents to avail these latest facilities to make life easier.  

• Better workplace management 

A centralized data capturing and recording system with IoT devices can help in the workflow of your office space and daily workings. Make life better for your employees in the back office with efficient devices that work on commands and get the work done in no time and help improve the productivity of the team.  

• House hunting made easy 

The pandemic has really made us adjust to virtual life, and real estate is not far behind. Companies are now offering virtual home tours for potential tenants and homebuyers to give them a realistic experience of the home without physically visiting the place. IoT-powered methods, apps, and software can make virtual tours real smooth. You can pre-schedule tours even without a property manager or agent present on the spot. PR Newswire reports have marveled at how Zillow is already using these applications to make 3D tours a reality for their potential customers and increase sales.