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Property Development still brick and mortar business

Property Development in the 21st Century: still advocate the “brick and mortar” business model?

Author Dr Daniele Gambero Propenomist Posted on Tags , , , , , ,

It was only a few years ago, three or four, when a property developer, at a conference, clearly stated that, no matter what, property development was and still is a brick and mortar business.

Since then, plenty of innovative solutions for property development have been introduced in the market and many developers have started reviewing their “brick and mortar” style towards a more suitable and definitely sustainable digitally transformed world, the Proptech world.

Nowadays, everybody is talking about affordable housing and, for sure, digital transformation in property development is bringing a highly disruptive but positive impact in the property industry. The great thing is, properties shall cost less and consequently become more affordable! The how is not too complicated.

Below, I’m just giving a few examples of positive impact on property development from a costing point of view.

Proptech Positive Impact on Property Development

1) Pre-construction

Using big data and Ai is nowadays possible to understand clearly what the public is demanding in a certain area, what purchasing power do they have and which type of property they are looking for.

Valuers and professionals are preparing quite accurate feasibility studies using all the information as above and everything is there to give a clear direction to future property development.

2) During construction

We all have heard about BIM (Building information Modelling) which, though a precise integration of architect drawings with C&S (Civil and Structural) and M&E (mechanical and electrical) data allows to find and resolve beforehand all possible construction issues.

In this way the construction period will be shorter, easier and definitely less expensive.

IBS (Industrialized Building Systems) has been also widely adopted in property development. Its impact has reduced construction times and allowed better quality. Again, we talk about cost reductions.

3) After construction

Property defect animated picture from property development

Delivery of Vacant Possession, resolving construction defects and building communities have been mostly digitalized, as an example have a look at what ProFix can offer to both property developers and purchasers, and the outcome is once more cost efficiency and better relationships between all players.

4) Sales and Marketing

The day in which we will no longer need to visit a sales gallery of property development to discuss with an agent and to visit the show units is almost here! Nowadays, above all with the impact of Covid-19 pandemic and the forced social distancing, many developers have already adopted digital tools such as:

  • AR (Augmented Reality) and VR (Virtual Reality) to allow the public to visit their sales gallery and “virtually walk through” the proposed property.
  • Once the decision is made, on-line booking kicks in and,
  • in a few minutes since when the transaction has been completed, bankers have already received the loan application (pending documents),
  • the appointed lawyer is already preparing the Sale and Purchase Agreement and the sales staff can already see the new booking appearing on their digital sale charts.

You can see good examples of all the above visiting the few links below: for the Virtual Reality, for the virtual booking / sales admin and finally for the legal part. Another good example of how fast digital transformation is changing the property industry can be found in the website of the Malaysia Proptech Association.

malaysia proptech vertical 2020
http://www.proptech.org.my

ProSales has been at the frontline of real estate disruption since several years and helped developers in serving their purchasers in a seamless way. Are you ready for a future which is already happening in ours present?

Leave your comment below as we, at ProSales, would love to hear from you!

Stay safe and see you soon!

About the author

Dr Daniele Gambero Propenomist

The opinions expressed in this article are solely of the author, Dr Daniele Gambero. 

Dr Gambero has been an expatriate to Malaysia from Italy, since 1998 and has more than 35 years of real estate experience. He is the co-founder and group CEO of REI Group of Companies, the Co-founder of Propenomy.com and the deputy president of the Malaysia Proptech Association. 

In the past 10 years Daniele, as international and TEDX speaker, has engaged several hundreds thousand people talking about Property, Economy, Propenomy, Digital Marketing and Motivation. He is also a bestselling author and columnist on several magazines and main stream media.

5G 151019

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

Author prosales_admin Posted on Tags , ,

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 performing 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

IoT26sept19

What is Internet of Things (IoT)?

Author prosales_admin Posted on Tags , , , ,

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 performing 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.