AI, Virtual Reality & Real Estate
The innovation, Opportunity and Investment (iOi) Summit, organized by the National Association of Realtors (NAR), occurs yearly. The annual event hosts professionals from around the country to discuss current ideas in PropTech.
The ideas range from affordable housing to non-fungible tokens and insurance. You will find top presenters like former Zillow CEO Spencer Rascoff, Realtor.com CEO Ryan O’Hara, and New York star Fredrik Eklund.
Real estate today also relies on artificial intelligence to gather and analyze data. Through the algorithms, developers can siphon through debt levels, home renovations, and property values. This helps in matching the buyer to the best mortgage.
The Real Estate Industry’s Use of 3D Laser Scanning Services
Through top platforms like Amazon’s Rekognition, it’s easier to retrieve and organize information about a property. You can easily determine the house’s features from the swimming pool, fireplace, pantry, or French doors.
Through 3D laser scanning services, you can also help determine unwanted content by providing a moderating tool. These tools are essential for real estate companies that feature user-generated content.
Most agents often lose potential clients once they want to see the property. Through 3D scanning services, they can showcase the potential property to buyers without them stepping through the front door. The onset of Covid 19 fueled the need for commercial and residential developers to look for alternatives to market their products.
This is why the popularity of a digital twin is soaring. The 3D laser scan model allows buyers to view the property they want to buy. They can also view property yet to be built through 3D laser scanning services.
Top companies like Matterport are entirely focused on introducing products to the market to allow brokerages to utilize the technology. The 3D scanning services and 360-degree cameras will enable 3D scanning using a mobile. Through digital twins, developers can work on projects effectively and efficiently.
Experts like Mike Shapiro argue that real estate shouldn’t be treated as a separate entity from other assets. Instead, he insists that understanding the correlation between the residential estate and other asset classes will be more accurate. You can also easily determine pricing and equities through the platform.
He pointed out the major similarities between publicly traded companies and real estate. The latter can be divided into prediction and investment. You can easily compare the Dow Jones Industrial Average, a prominent company, to Beverly Hills or Manhattan. Through this major correlation from 3D scanning, banks, real estate agents, and banks can have a deeper understanding of the pricing.