{"id":5773,"date":"2022-03-12T19:07:54","date_gmt":"2022-03-12T19:07:54","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=5773"},"modified":"2022-03-14T09:56:35","modified_gmt":"2022-03-14T09:56:35","slug":"real-estate-builders-transforming-themselves-with-the-use-of-technology","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/real-estate-builders-transforming-themselves-with-the-use-of-technology\/","title":{"rendered":"Real Estate Builders Transforming Themselves With The Use Of Technology"},"content":{"rendered":"\n<p><em>New generation technology is disrupting the <a href=\"https:\/\/www.propertypistol.com\/\" data-type=\"URL\" data-id=\"https:\/\/www.propertypistol.com\/\">real estate sector<\/a> as builders use virtual walkthroughs and online bookings to boost sales, 3D printing, artificial intelligence, etc., to improve construction quality and save resources.<\/em> <\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The industry is estimated to reach $1 trillion by 2030. Primarily driven by uphill demand and several reforms during the past decade, the real estate industry was severely impacted like most other sectors by the pandemic. Technology has taken the forefront &amp; is playing a vital role in optimizing workforce efficiency within the real estate and construction sectors.<\/p>\n\n\n\n<p>Real estate developers often face critical problems such as remote communication, unorganized work breakdown structures, site budget control, HR management, etc. Project deliverables also get delayed due to these challenges faced by the construction workforce. In this article, we\u2019ll discuss how real estate builders are transforming themselves by finding smart solutions using new &amp; emerging technology.&nbsp;&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/real-estate-builders-transforming-themselves-with-the-use-of-technology\/#The_emerging_role_of_automation_for_workforce_efficiency\" title=\"The emerging role of automation for workforce efficiency\">The emerging role of automation for workforce efficiency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/real-estate-builders-transforming-themselves-with-the-use-of-technology\/#Increasing_reliance_on_digitalization\" title=\"Increasing reliance on digitalization\">Increasing reliance on digitalization<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.propertypistol.com\/blog\/real-estate-builders-transforming-themselves-with-the-use-of-technology\/#Flexible_healthy_workspaces\" title=\"Flexible &amp; healthy workspaces\">Flexible &amp; healthy workspaces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.propertypistol.com\/blog\/real-estate-builders-transforming-themselves-with-the-use-of-technology\/#Virtual_reality_VR_and_3D_mapping\" title=\"Virtual reality (VR) and 3D mapping\">Virtual reality (VR) and 3D mapping<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.propertypistol.com\/blog\/real-estate-builders-transforming-themselves-with-the-use-of-technology\/#Lastly\" title=\"Lastly!\">Lastly!<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_emerging_role_of_automation_for_workforce_efficiency\"><\/span><strong>The emerging role of automation for workforce efficiency<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Automation plays a vital role in enhancing workforce efficiency, as it can seamlessly streamline manually intensive tasks within a shorter span of time. This ensures that the human resources can be allocated to innovative and timely processes, driving excellent output quality. Teams can improve site execution when key areas such as indent management, multi-site material transfer, and scheduling are automated through a centralized technology.<\/p>\n\n\n\n<p>Further, this increase in workforce efficiency directly translates into more significant cost savings for projects that may already be experiencing some form of delays and over-expenditure. Developers can also track employee activities through progress reports, updates, and mapping technologies. All team members can seamlessly comply with given objectives with automated processes at large. This exponentially boosts transparency and employee output throughout the lifespan of the project.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Increasing_reliance_on_digitalization\"><\/span><strong>Increasing reliance on digitalization<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Digital communication is becoming the norm, and efficiency, safety, and hygiene are paramount. With the technology of newly emerging startups &amp; other platforms, buyers and sellers of real estate can access information and consult online. Online catalogs, real-time video\/virtual tours of the property, and online communication are some parameters that the real estate industry has begun adopting, using technology to make processes swifter and more user-friendly.<\/p>\n\n\n\n<p>The real estate industry has begun adopting innovative processes that digitize traditional ones, enabling the realtor to analyze more data be accessible in real-time. At the same time, in this context, the Government extended the Digital India Land Records Modernisation Programme (DILRMP) for building upon the standard features existing in land records in different States and developing an Integrated Land Information Management System (ILIMS), enabling States to add their State-specific requirements.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Flexible_healthy_workspaces\"><\/span><strong>Flexible &amp; healthy workspaces<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>With the advent of \u2018anywhere\u2019 workplaces, real estate developers require flexibility in time, location, &amp; environment for leasing commercial properties. The industry is hiring data scientists to procure information from building management systems, tenant feedback, and swipe cards to assess and introduce flexible operational models into their portfolios to ensure optimal commercial properties use. Further, the pandemic has completely altered how we think about our health and safety in public spaces. Density ratios, touch-less technology &amp; sensors to monitor air pollutants, automated cleaning in post-pandemic workplaces can enable a healthy work environment.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Virtual_reality_VR_and_3D_mapping\"><\/span><strong>Virtual reality (VR) and 3D mapping<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>These technologies replicate an environment using technological simulation. Drone technology allows users to create an alternative reality like building modeling. Adoption of VR or 3D mapping technology for providing digital walkthrough allows potential tenants, buyers, or managers to undertake property inspections through their devices. The technology merges images and videos of the property and forms a digital space that is identical to the real property. This potentially provides exclusive experiences for investors and, therefore, the chance to be ahead of competitors. Pre-construction architectures can also be viewed with a few clicks.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Lastly\"><\/span><strong>Lastly!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Developers leverage robotics, IoT, and other advanced technologies to translate designs to real-time execution effectively. They also assist in site inspection, safety quality, visual reporting, etc. They are also helping construction workers scientifically derive unique insights for improving project outcomes. The adoption of new technology has opened a pandora box in the real estate industry, which doesn&#8217;t seem to be closing at any time in the future.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New generation technology is disrupting the real estate sector as builders use virtual walkthroughs and online bookings to boost sales, 3D printing, artificial intelligence, etc., to improve construction quality and save resources.<\/p>\n","protected":false},"author":2,"featured_media":1150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[65],"class_list":["post-5773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-technology-in-real-estate","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Real Estate Builders Transforming Themselves With The Use Of Technology - Real Estate Sector Latest News, Updates &amp; 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