Real Estate technology is developing faster than ever. Whether it's tech developed specifically for the industry or broader tools being used for Real Estate purposes, it's important for those in the business to stay on top of these trends. One with possible implications is the use of beacon technology, which Inman News expects to become better known this year.
Beacons are small sensors you can place in a location to send personalized location-based information to a user's mobile device. Hobbyists have been using these devices for awhile. Geocachers use them to communicate between a hidden cache and a user's GPS to provide the cacher with more specific location information than the GPS alone is able to provide. The Garmin Chirp can also store numbers of visitors and send hints to players.
Think about the implications this has in Real Estate. Someone looking for new living arrangements is passing by a house on the market or an apartment complex with available apartments. The beacon sends information to their mobile device: Everything a renter or buyer might want to know, from cost to square-footage, to nearby amenities. It saves location data and sends contact information for the Realtor to the phone.
On the other end, the beacon records the number of visitors to see the house, including information provided by the phone. These numbers can be used to analyze data to help agents be more effective. As the technology develops, it will become more diverse and other uses will become apparent. Beacon technology was recently demonstrated at MIPIM, where it was used as part of the show to pinpoint user locations within the hall and as an itinerary scheduler.