How IoT (Internet of Things) is Used in Real Estate Industry

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How IoT (Internet of Things) is Used in Real
Estate Industry
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Introduction

• Everyone's dream is to own a home and making that
  dream a reality is one of the most important
  investments one will ever make. Whether you are
  purchasing a house to live in for a while or
  acquiring ownership of that once-in-a-lifetime
  ideal investment property, each comes with its
  own set of complications. The Internet of Things
  (IoT) simplifies everything from house hunting to
  adjusting the light after you move in. In
  business, IoT applications benefit both lenders
  and buyers.

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What is IoT?

• The Internet of Things, abbreviated as IoT, is a
  network of devices that are linked via the
  Internet and perform "smart" functions. It not
  only helps to improve the lives of its customers,
  but it also has a significant impact on the real
  estate industry, raising the standard of living.

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Enhancing energy efficiency

• Smarter, more energy-efficient spaces can be
  created on the owner's schedule thanks to
  IoT-enabled sensors and monitoring. Smart gadgets
  give owners greater control over household energy
  use in terms of utilities such as lighting,
  water, electricity, and heating and cooling.
• Owners can change the lighting in their homes
  depending on the situation. For example, lights
  can be turned off immediately when a person
  leaves the room or turned on when he enters, and
  the light in the room can be dimmed depending on
  the presence of natural light. These smart
  devices, such as Wi-Fi-enabled water heaters,
  allow owners to monitor when and how long the
  heaters can be left on during the day.

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A predictive analysis made possible by IoT

• What if homeowners could predict problems ahead
  of time? Home problems are unavoidable. IoT
  deserves praise for its predictive analysis. Yes,
  people can now not only anticipate problems but
  also solve them before they arise.
• IoT-enabled sensors and energy monitoring track
  energy consumption and forecast maintenance
  schedules. These sensors can detect
  inconsistencies and send maintenance alerts to
  owners.

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Safety and Security

• Safety and security are major concerns in the
  real estate industry, whether on the construction
  site or after the owners have moved in, but IoT
  can help here as well. IoT alerts users to
  potential hazards at real estate properties and
  assists in resolving them as soon as possible.
  The technology can track the workforce on the job
  site and send emergency alerts to users,
  preventing dangerous incidents.
• Customers' expectations have grown as a result of
  the introduction of the Internet of Things
  application for real estate app development. They
  are on the lookout for automated solutions that
  will make their lives easier.

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Tracking of materials

• The real estate industry is entirely dependent on
  raw materials such as bricks, cement, iron,
  steel, and others. Agents can keep track of stock
  availability at the sites to better understand
  the inventory. Material tracking assists real
  estate companies in avoiding unnecessary material
  waste, thereby reducing unnecessary material
  costs and investing money wisely.

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IoT boosts house hunting experience

• Another advantage in the real estate industry is
  beacon technology.
• Beacons are Bluetooth devices that transmit
  information ranging from square footage to photos
  in order to provide prospective buyers with
  360-degree virtual tours of homes.
• It provides all of the necessary information to
  the buyer on their phone screens.
• Beacon technology enables realtors to provide
  customers with a personalized buying experience
  by displaying the information they want to see.

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Quicker and better decisions

• IoT devices provide valuable data that realtors
  can use to increase sales. An in-depth,
  predictive analysis of the property serves as a
  "report card" of its value. Prospective buyers
  can benefit from this information, which agents
  can provide.

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Wrapping Up

• IoT applications will continue to grow and shape
  the real estate industry in numerous ways. When
  selling a home, agents should consider whether or
  not the home is IoT-enabled for the offer. It
  will also be critical for agents to investigate
  how IoT innovation can help them expand their
  activity proficiency and generate leads. This
  Prescient technology will assist realtors and
  real estate owners in making their buildings
  stand out from the competition.

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