IoT for SMART Real Estate

Internet of Things is referred to as an infrastructure of technology where various devices are interconnected via the internet, and coordinate with each other to perform ‘smart’ functions. These can be called as Smart Home devices, and have been a giant leap forward in the home automation industry. IoT aims to make people less reliant on static technology such as PCs and laptops. It weaves technology into the product directly, saving the user a lot of effort in the process. IoT also contributes a lot towards saving resources. But more of that later. Let’s first take a look at where it is used commonly.

This was one of the first and most popular uses of IoT. The security features that Smart Homes come with includes being able to view what’s going on inside the home using video. This allows homeowners to keep an eye on their pets, kids, or elders. The video feed streams to the person’s mobile device, letting them see what’s happening in the home. This was a very sought after feature of IoT. In 2017, the security market in Smart Home automation grew to $6.7 billion.

An example of this might be smart TVs or speakers that are activated with voice control or using related devices, like a smart remote control or mobile application.

Smart lighting involves selective lighting based on certain conditions. For example, turning lights on or off when an occupant enters or exits a room. Or dimming lights based on the quality of natural light streaming into a house. Smart lighting is a great energy saver, as it prevents lights from being left on when not in use, or being on full blast when not required.

This smart home automation market involved controlling temperature automatically, without manual intervention. For example, adjusting the thermostat or air conditioning depending on the atmospheric temperature or the presence of occupants in a room. This also saves on energy, and the power bill, by selectively powering and adjusting devices based on the current requirement.

This company has disrupted the property showing market by making use of beacons and the internet to let people take a virtual tour of properties that they want to see. There are two requisites for this – a beacon, and the BeaconSAGE app. When a potential buyer is within the radius of a beacon, which is a bluetooth device, the phone picks up the beacon’s signal. The user can then get a URL from the beacon to proceed with viewing a property via it. This allows you to let the buyer begin viewing the site even before you get there.

Besides Smart Homes and Home Automation, the IoT has also slowly started to disrupt the real estate market in sectors such as property showing and leasing. Here are some examples of newer applications of IoT in real estate that are outside the purview of smart homes.

Fingent is an application that streamlines the property leasing-inspection process. It immediately flags vacant properties that are going to be leased, and need inspection. This saves a lot of time and paperwork.

Enlightened is another Smart Homes company that offers home automation solutions for both residential and corporate real estate. It aims to streamline IoT into larger organizations on bigger scales.