Beacon Technology – Redefining House Hunt

We live in an era where technology has redefined every course of life. Be it transportation, medicines or simply communication, technology has changed things from what they used to be a few years ago – and real estate is no different.

Though real estate has been notably slow to experience these changes, implementations of modern techniques like Big Data, Internet of Things and Artificial Intelligence has taken residential real estate house hunt from what used to be a tiring and demanding process, to something as easy as tapping a few times on a smartphone.

Beacon Technology

Beacon is one of the latest and rapidly developing applications of Internet of Things on house hunt. Beacons are Bluetooth based devices that can be mounted anywhere. These devices sense data from their surroundings, convert the data into meaningful information and transmit that information via Bluetooth. Real Estate is using Beacons for these 3 main purposes:

Property Discovery

Beacons can be used to notify potential buyers when they drive past a property. It can be done by placing a beacon-based device inside the property or within certain radium from the property and the devices will gather and transmit information to all Bluetooth enabled devices that come in their radius. While the user can get notified instantly, they can click open the notification and see all relevant information including a virtual tour of the property and even schedule a meetup with the seller.

Consider a potential buyer who wants to buy property in Jumeirah, drives past an apartment that has a beacon-based device installed, they get notified instantly, they schedule a meetup right away, resulting in a perfect property match being targeted towards the most accurate property buyer.  Beacons can also be used by realtors to be placed in their offices so just in case all agents are busy attending customers, new walk-in clients can still get the required information.

Engagement In Property

Digital marketing is the essence of real estate these days. Using Beacons, sellers can attract potential clients towards a virtual 3D tour to the property which would be a great signal that the developers are using the most cutting-edge technological solutions in their projects, increasing the probability of clients getting impressed. Also, these tours are completely in-house, means the buyer does not have to take the time out to physically visit the property.  

Making spontaneous calls to the user is also a great feature provided by Beacons. For real estate agents, calling the right client at the right time is a good chance of striking the deal, if they fail to do so, they might miss the chance to secure the deal.

Another impressive feature could be pushing notifications about certain property extras like swimming pools, golf courses, gyms, nearby best schools and so on. For example, notifying clients about best restaurants, cafes or fitness centers near Jumeirah could be useful if they are interested to buy property in Jumeirah.  Off-course no one would break a deal for not having these notifications, but it will go a long way in impressing the client.

Analytics

Thanks to the ability to store information, Beacons have an ability for users to perform analysis on the historically saved data. Using beacons, realtors can easily train the applications about certain types of users, their preferences in property as well as area. Using this information, the applications can be better trained at learning about property appreciation and/or depreciation in a certain area based on user experiences recorded and hence more accurate property suggestions can be given to potential buyers.

Using heat maps of the plot, realtors can make sure no important area goes unnoticed by the buyer. They can also use it to notify important highlights about that area in the tour. Also tracking the number of feet entered or left the premises can be a good indicator of activity in the property. 

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Created on Jul 15th 2019 12:44. Viewed 780 times.

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