Author Archives: prosales_admin

The Sharing Economy & the impact on the Real Estate Sector.

The sharing economy (SE) is an umbrella term for a variety of goods and services exchanged between private individuals, usually facilitated through a company over a network. Driven by big data and the internet, the SE connects those who wish to utilize a service or a product, but not necessarily want to buy it.

https://www.landsterling.com/the-sharing-economy-the-real-estate-sector-whats-the-impact/

AirBnb

Example of company based on  SE – AirBnB, with the advantage of a low operating cost compared to traditional hotel chain offers its members more competitive accommodation rates, additional benefit like hosted tours of the local culture which are attractive to most modern tourist who are looking forward for real and learning experience and exposure.  To address this change in tastes of customers in the market, hospitality providers must counter it by providing more value instead of just banking on conventional star ranking marketing strategy.

The Shared Workplace

The shared workplace/Co-working provides many of the amenities of traditional serviced offices and places with greater emphasis on cost-effectiveness that is found to satisfy both management and employee needs. This model has proven to bring unique connectivity to the shared workplace that previously had not existed.  However, from the property valuation standpoint, “shorter-term leases and higher tenant improvement allowances could increase cash-flow concerns and create greater tenant turnover among traditional landlords impacted by this co-working trend. Nevertheless, others view the impact as longer term and often positive, because of the attraction of Millennials to shared work environments.

https://www.bankingexchange.com/commercial/item/7528-will-co-work-trend-impact-valuations https://www.reuters.com/brandfeatures/cbre/workplace

In an increasingly globalized and networked world, this real estate trend of SE holds a huge potential, but affects professions dealing with the construction or management of properties. Imagine that a decrease in demand for buildings may result in reduced demand for construction companies, architects or property owners. But, instead, the SE may bring many new technological opportunities that could encourage quicker communication between supply and demand in the real estate sector positively, ultimately.  And for sure, the future of the real estate sector remains an exciting one with -Sharing Economy.

Searching for PropTech solutions? ProSales, our highly performed mobile app digitize from the point of sales prospecting to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving. Contact us today for a Free Demo

Industrial Revolutions 4.0 & it’s impact on Real Estate.

Understanding of The Industrial Revolution (IR) from 1.0 to 4.0.

IR 1.0 (1800s) was the mechanization of the manufacturing and processing industry, utilizing water and steam power to aid workers.

IR 2.0 (beginning 20th century) saw the coming of the assembly line and electricity, making machines more portable, enabling mass production and Just-In-Time that improve quality and output.

IR 3.0 (last few decades of 20th century) then followed through the rise of automation, providing more efficient processes and manufacturing. The development of integrated systems has enabled humans to plan, schedule and track product flows throughout the factory.

IR 4.0 (21st century). Malaysia is now slowly moving past the 3rd industrial revolution and are advancing into Industry 4.0. It simply takes the automation and machinery from IR 3.0 and makes it better through smart system using data, machine learning, the Internet of Things (IoT) and Artificial Intelligence (AI).  The technology has allowed even more advanced automation, to the point where factories can run well without human – a smart factory, essentially.  Industry 4.0 is a “smart” industry that can operate efficiently with less human-error by being connected with superior efficiency and low wastage through Big Data, robots and cyber-physical systems.

https://www.comparehero.my/technology/articles/what-is-industry-4

http://www.apics.org/apics-for-individuals/apics-magazine-home/magazine-detail-page/2017/09/20/industry-1.0-to-4.0-the-evolution-of-smart-factories

“Malaysia is currently between the second and third industrial revolution, with the exception of its electrical and electronics, aerospace and automotive sectors that are more advanced in terms of the adoption of Industry 4.0. However, there has been a shift whereby some manufacturers are beginning to comply with Industry 4.0, which will bring in high technology, innovative and high value-added industries and a highly skilled talent pool, which will eventually lead to the economic prosperity of the country,” says Saleha Yusoff, executive director and regional head for research and consulting at Nawawi Tie Leung Property Consultants Sdn. Bhd.

(19 July, 2019, Rachel Lee, The Edge)

https://www.theedgemarkets.com/article/property-and-industry-40

Impact of Industry 4.0 on real estate

The new age technology, Industry 4.0  mainly engages in inter-connectivity of systems automation, machine learning and real time data. With technology set in our daily lives, the impact is all over the place including the real estate sector:

Online Property Listing and Digital Trading

Simply, digital marketplaces started off as a platform for listing whether it is for residential, commercial or retail properties. Some opined that those platforms which facilitate online trading and transactions for property listing have significantly reduced the role of brokers and physical real estate agents as such services were offered at a nominal fee instead of relatively high charges by traditional brokers/agents.  However, others thought that an agent’s work should not be underestimated as good and professional agents will discuss options and offers with buyers and sellers and for such an intimate decision for sales /purchases to be made, human touch is still required.

Smart Homes and Automation

With the IoT, homes now have gadgets which can be remotely controlled via the internet or through Wi-Fi connectivity. Research reckoned that, millennial are willing to spend more on technology-ready real estate / smart home tech like smart thermostats, leak detection sensors, and home security. These techs are making houses more convenient and much more attractive to both new and future/sub-sales potential buyers – basically, future ready.

https://www.futurereadyedu.com/powerful-technological-disruptions-in-the-real-estate-sector/

It is clear that the Fourth Industrial Revolution will have more positive impact on real estate sector and leads to good life as home-buyers can complete property purchases virtually, saving on fees and eliminates the risks involved with paper records. For the realtors, it accelerates sales closings. Important of all, all parties have access to the same information and it instills and promotes transparency.

ProSales, our all rounded and ready Mobile App digitizes from the point of sales prospecting, whole sales process to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving. Contact us today for a Free Demo

The Generation of Wireless Phone Technology, 5G and its impact on Real Estate.

The Generation of Wireless Phone Technology

“G” stands for “GENERATION”, it refers to what generation of the wireless phone technology is. For the non-tech savvy, a simple comparison of the “G” is as below:

  1. Zero generation (0G) referred to as pre-cellular systems.
  2. Year 1980-1990 (Michael Jackson Time!), 1G refers to the first generation of cellphone connection, capable of voice and it was an analog connection.
  3. Year 1990-2000 (The Flip Phone Era!), 2G provides benefits such as phone conversations that are digitally converted and introduced data services for mobile, starting with SMS, plain text-based messages, picture messages and MMS (Multimedia Message Service).
  4. Year 2000-2010 (Obama as president/Smart Phone Age!), 3G technology provides an information transfer rate of at least 200 kbit/s and provide mobile broadband access to smartphones and mobile modems in laptop computers, thus applicable to wireless voice telephony, mobile Internet access (data), fixed wireless Internet access (web browsing), video calls and mobile TV technologies.
  5. Year 2010-2020, (Mobile App Era) 4G is often up to 10x faster than 3G in real-world use, faster speeds will be most noticeable for high intensity use like large downloads. There are only 2 real possible downsides to using 4G, i.e. It drains more of your battery than 3G does and may use more data due to the higher speeds, especially if the 4G connection in your home is faster than your internet.
  6. Now-5G denotes the next major phase of mobile telecommunications standards particularly in terms of speed, enhance connectivity (multiple devices) and more efficient (lower latency). These are especially important as the number of Internet of Things (IoT) devices rises, along with the amount of data they generate. It will allow IoT to become a reality- a world in which connect to each other and everything else.

Source of information:

http://net-information.com/q/diff/generations.html

https://gorillagadgets.com/pages/tech-terms-explained-in-ways-we-all-can-understand

https://www.google.com/amp/s/www.forbes.com/sites/moneyshow/2019/09/12/5g-reits-where-tech-meets-real-estate/amp/

5G and its impact on Real Estate.

There is a big change coming with 5G that will impact real estate in a number of ways :

The demand for homes with “connected” fixtures, appliances and even building materials will be far more sought after than those that are not. Roofs soon will be connected and automatically report roof damage or if the gutters is blocked and need to be cleaned. Refrigerators will have sensors that send owner reminders when fruits/vegies are running low or order them automatically when finished.

With everything in a premise connected to the internet and collecting data, property managers and real estate owners will have unmatched access to usage analytics. Real estate agents will also be able to provide more engaging virtual reality (VR) tours better than before.

Real Estate Agents/housing developer could even begin offering virtual home tours via mobile apps and prospects could use VR to view several show units without having to step outside their homes/premises. It’s truly the next edge!

Searching for PropTech solutions? ProSales, our highly performed mobile app digitize from the point of sales prospecting to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving. Contact us today for a Free Demo

What is Internet of Things (IoT)?

What is Internet of Things (IoT)?

The Internet of Things (IoT) is becoming an increasingly important part of the technology industry, the simplest and most straightforward explanation on IoT is:

Andy Griffiths, president at Samsung Electronics UK and Ireland

“Imagine walking into a house where everything is controlled by your mobile phone – you can switch the lights off before you get into bed, turn the heating up if it gets chilly or even make sure that all your dirty clothes are washed in the washing machine, all from the touch of a button on your mobile phone.

The Internet of Things is when all of the electrical items in your house, like your fridge, oven, TV, microwave, washing machine and mobile phone are all connected to each other over the Internet so that you can control them from one another – almost like they are talking to each other!

All of these electrical items are really clever and can collect information about when and how you use them. They can then use this information to help make your life easier, so there’s more time to do fun things and less time to do things like household chores!”

https://silicon.co.uk/workspace/internet-of-things-explainer-161602

IoT is producing powerful changes in the real estate sector!

First of  all,  IoT enhances the connectivity of our physical world, for instants, sensors and systems are installed to collect large amounts of data from both inside and outside of the buildings.  The collected data can be analyzed and then used in a bid to optimize the manner of occupation and operation of a premise and its entire infrastructure. 

Systems, as well as buildings and to the extent of individual rooms, can learn and react to the occupants’ behavior. For example, HVAC systems now have the capability of adjusting the heat, air conditioning and lighting, responding to the presence/absence of occupants, rather than being controlled manually. Having used of these systems over time, by learning the usage of its patterns, will result in finding the best way to maximize performance and cut down energy costs.

Further, when security systems are linked to smartphones or security passes, it will allow property managers to identify emergency services, such as whether a building is clear or determining areas and find anyone that is in danger/trapped.

The IoT is producing revolutionary changes in the real estate industry and has the potential to provide great benefits to all including the realtors and purchasers. It should be noted that anyone who does not embrace modern technology and adapt appropriately will definitely faces the risk of being left behind, losing new purchasers, and, thus, suffering a slowdown in revenue streams.

https://www.influencive.com/how-the-internet-of-things-is-changing-real-estate/

Therefore, let’s stay connected by adapting to the modern technology, connect the real estate agents/sales representative to potential purchasers, help home owners and your business to carry out a range of smart activities with ease. ProSales, our highly performed mobile app digitize from the point of sales prospecting to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving. Contact us today for a Free Demo.

What is “Big Data” Technology ?

What is “Big Data” Technology ?

Big Data is going to control the businesses all over the world.  It is impacting our lives in so many ways, we see schools and universities introducing the subject to its students and making it part of main stream education. So, all of us, in business, really, need to understand what Big Data is and how it is changing our lives.

Here is one of the Big Data definitions that most of us could understand:

“Can you write down your name and your age? I am sure you can. Can you write it down for everyone in your class? Or for everyone in your school? Or everyone in your town? Everyone in the country? Everyone in the world? And then write down their age, their favorite color, their favorite animal, their favorite TV programs, almost anything you can think of … for millions and millions of people.

That’s too much, isn’t it? You can’t do it, and I can’t do it. But some computers can do this, and we call it ‘big data’. Data is all the stuff we are writing down and you can imagine, for millions, billions, gazillions of people it is really BIG.

What can we do with all this data? We can find patterns. For example, people making television programs may discover that children who like music really like drawing too, so they could make a new program about music and art. Or hospitals could discover that people who like different foods may get sick in different ways as they get older. That could help families and doctors look after our grandparents better.”

Donald Farmer, Qlik’s VP of product management https://analyticstraining.com/explaining-big-data-to-kids/

The Importance of Big Data Technology to The Real Estate Industry

With the understanding of the simple definition of “Big Data”, let’s see how it has impacted the real estate industry. Data allow the real estate experts to spot trends (or patterns as mentioned above) and are in better position to predict, analyze, also to anticipate the effects of the relevant trends, which allows them to be better prepared if they come into sight. For example, what will be the most popular and demanded number of rooms in a condo / landed property in a specific location.

Big data makes the sales and purchase processes smoother and simpler so that both sellers and buyers will be well-informed.  Sellers/housing developer will use the collected data to make better decisions, for instant, the selection of location for new project development.  Where-else, buyers will have a better understanding of the environment and local community of their dreamed properties.

Businessman/ people will be provided with detailed property information regarding latest surveys, full lists of properties for sale/rent, maps with regions where properties can be filtered by its value and so on. The main idea is to give people clear and true information, encourage transparency and decrease fraudulent.

The future of Big Data Technology is very optimistic and NO one can afford to take no notice of it.  So, let’s think about the development of your own data-driven software, you may need a mobile app to start with that works with Big Data. ProSales, our highly performed mobile app digitize from the point of sales prospecting to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving.  Contact us today for a Free Demo.