THE FUTURE OF PLOT SELLING: INDUSTRY TRENDS & INSIGHTS

Lately, technology’s impact has been moving forward rapidly. This also applies to real estate, where technology is used to keep up with the competition and make processes smoother.

In 2024, there are some interesting trends in real estate technology used by leading developers, especially the top 10. These include artificial intelligence, augmented reality, the Internet of Things, and blockchain. These innovations are reshaping how real estate is handled – from construction and management to marketing and sales.

Understanding these trends and leveraging them for the benefit of their businesses is essential. Staying updated with the most recent technology can provide them with a competitive advantage in this rapidly evolving industry.

AI-powered analytics:

AI algorithms may execute things that humans cannot, such as evaluating large amounts of data quickly. In real estate, this data can include property location, previous price patterns, socioeconomic statistics, environmental conditions, and other information.

AI systems use this data to identify market trends such as plots for sale in Hyderabad, HMDA-approved plots for sale in Hyderabad, etc, and property behaviors. This enables real estate specialists and investors to accurately anticipate property valuations, rental income, and ROI. Many businesses increasingly use AI-powered analytics for real estate data management. Cloud systems provide insights to brokers, lenders, and investors, allowing them to make better decisions. Even top Indian real estate organizations are adopting AI analytics to improve market understanding.

VR vs AR:

Real estate agents are increasingly embracing Virtual Reality (VR) and Augmented Reality (AR) property tours, which provide a more immersive experience for remote viewings.

These tours are efficient for both buyers and sellers, as they allow clients to virtually explore properties through smartphone apps. As consumer demand for this technology grows, VR and AR capabilities are expected to advance and provide more accurate representations of real estate.

In Chile, Hyperreality Technologies is a startup that offers highly immersive VR solutions tailored for the real estate industry. Similarly, leading real estate companies in India are now incorporating similar VR solutions.

The use of drones and Building Information Modeling (BIM):

Some property technology innovations benefit more real estate brokers and managers, but one stands out for building specialists and is extensively used by top real estate builders. Building Information Modeling (BIM) and drones transform real estate by ensuring accurate construction, property evaluation, and maintenance.

BIM generates comprehensive 3D models and organizes data to assist architects, engineers, contractors, and managers with property construction and upkeep. Drones make inspections and surveys more efficient by providing low-cost airborne data. This innovation not only reduces costs but also improves property standards.

Smart house with Internet of Things (IoT) integration:

Even in India, there is a growing demand for easier living, energy efficiency, and a sense of safety. That is why the top property developers are incorporating smart home and IoT technology into their developments. Unsurprisingly, smart house technology is becoming a significant selling feature in the real estate industry, particularly in India.

Smart home technology allows homeowners to easily regulate lighting and temperature. It also saves energy and provides valuable information about property conditions. Cameras and motion sensors protect structures from burglars. These features make everyone's house more efficient, safe, and comfortable.

Eco-friendly and long-lasting property:

When it comes to real estate, people nowadays prioritize eco-friendliness. Real estate developers understand that simply owning a great property is not enough. People demand energy-efficient buildings and sustainable construction methods. Green communities are particularly appealing, attracting ecologically aware buyers.