Technology Is Essential For The Real Estate Industry

Technology has become essential for the real estate industry to operate and maintain resiliency, particularly during these unprecedented times.

Anshuman Magazine, Chairman & CEO of CBRE India, South East Asia, Middle East & Africa, describes how the company has been utilizing digital solutions to enhance efficiency.

“Data-driven property management, predictive algorithms for property sales, real-time occupancy and utilisation, predictive maintenance, labour and location analytics, site selection and yield optimisation are a few areas where CBRE has showcased its expertise by developing solutions for the industry,” said Magazine.

Magazine added that the use of such tools has allowed the company to evolve its offices so that they are technology-fueled, while being more cost and time effective. For instance, ‘plans’ technology helps its developers and investors to use immersive 3D tours of its spaces that allows them to experience the property by offering a panoramic view. Other technologies like Spacer also provide clients with tools to analyze and administer data digitally.

Augmented and virtual reality have also played a huge role in transforming how CBRE operates. Now, with interactive 3D imaging, sensors and analytics, the company can have a better understanding of what their members need and how they interact with the space.

Digitalization is vital for the real estate industry as having a great customer experience leads to customer satisfaction, which allows companies within the industry to provide optimal, seamless services.