IoT in Real Estate By Clare Bittourna, Codal Inc
______________________________________________________ The Internet of Things has already changed how we work, live, and play! It is being used across all industries; real estate, healthcare, manufacturing, education, and more. According to Statista, by 2025 there will be over 75 billion connected devices, and according to McKinsey, by the same year, IoT could have an annual, global impact of $3.9 trillion. This is a large impact on society’s economy, and over the next few decades, we will start to see these changes in action. As an IoT mobile app company chicago based, we have to stay on top of trends and statistics within the world of IoT in order to provide our clients with the best business solution possible. Ultimately, leveraging IoT apps in commercial real estate, when done the right way, can lead to cost savings through better operations. As an app development agency that specializes in IoT, outlined below are the ways that IoT is impacting the real estate industry. Its very likely that emerging technologies will reshape the face of the real estate industry. One innovative device is already being adopted by more forward-thinking agencies: the beacon. The beacon is a sleek, small device that uses low energy Bluetooth
signals to send or receive information to or from a mobile phone. Beacons can help realtors turn their showings into an immersive, interactive experience for renters and buyers. If a beacon is placed near the front door of a home, it can connect with clients when they enter the building who have downloaded the real estate agency’s app. From there, the beacon can offer essential property information and get the clients information. This idea makes it easy for the real estate agent to provide a more engaging open house experience as well as track prospective buyers. App developers in chicago have seen a major boom in the need for mobile apps where IoT is changing real estate with HVAC systems and smart devices. HVAC systems and smart devices now can respond to the presence/absence of occupants and can adjust air conditioning, heat, and light. When someone lives in the home for a long period of time, the system starts to pick up on usage patterns and find the best way to cut down on energy costs and maximize performance. For example, having a smart home device such as a wifi enabled water heater gives homeowners the control to choose how long and when the water heater runs during the day. This device provides hot water when it's needed the most by optimizing water temperatures. As a home ages, of course maintenance and issues are unavoidable. But, what if homeowners could see these problems and fix them ahead of time? IoT predictive analytics enable homeowners to identify issues and address
system failures even before they happen. Through this idea of predictive maintenance, there are sensors and real time energy monitoring that can keep track of any irregularities and have the power to alert you when it's time for maintenance, when an issue is about to occur, and can predict a maintenance schedule by knowing how much energy has been consumed. The real estate industry as a whole should plan to incorporate these IoT technologies because they will help drive the way businesses will operate in the near future. If you’re looking for a well-rounded group of chicago app developers and a ux company or simply want more information on our mobile app design agency? Visit Codal’s blog, or come talk to us here! We’d love to hear from you.