There have been many advancements over the past 20 years in commercial real estate technology that have changed the way I work. We are able to provide our clients with relevant data which allows them to make better informed business decisions whether they are buying, selling or leasing. We are going to see over the next 5 years, a giant leap forward in the way we do business with the potential for all parties to benefit if we stay open and adapt to these new opportunities.
Mixed reality technology for design and construction
We’ve heard about virtual reality which can be defined as computer simulated reality. DIRTT Environmental Solutions has just taken this one step further. Their new program called ICEreality was showcased in this video.
This is a game changer for the interior design of all commercial real estate sectors once this technology is implemented by other companies. Rather than viewing a 3D model of your new office, retail, hotel or apartment design on a computer, you can literally walk through a simulated version before final approval of the blueprint.
We have seen how the internet of information has impacted every area of our lives. The second generation of the digital revolution will be powered by Blockchain technology. I highly recommend you read the book titled “Blockchain Revolution” by Dan Tapscott and Alex Tapscott.
Forty-two of the world’s biggest financial players including the NYSE, NASDAQ, Goldman Sachs, Deloitte, RBC, Barclays have taken a serious interest in this technology. This distributed platform will help us transform the old order of human affairs for the better. The Blockchain will create winners and losers; and real estate will be no exception.
To represent that we are number one in the market no longer carries relevance to our clients. We establish market presence by demonstrating expertise. Market share is earned by adding value to the deals we facilitate and communicating relevant information that matters to those we serve.
We will either embrace smart technology or get out of the business. Discerning where we invest our resources can at times be daunting, however we will continue to lead the way.
For those of us who embrace change, there are some exciting times just around the corner!
Posted by Barry Stuart