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Ravi Bhushan

Ravi Bhushan, Group Chief Product and Technology Officer of PropTiger.com, Housing.com and Makaan.com, is an industry expert with close to 12 years of experience in technology and digital domains. He came onboard PropTiger.com as a Vice President with key focus on enhancing product and technology functions. In his current role, Ravi spearheads new-age technology innovations to strengthen the ground product, design and engineering aspects.

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Technologies that will Shape the Future of How Content is Served in Real Estate

Digitizing client meetings using this technology can not only standardize real estate sales and provide an awe experience for the clients but also generate necessary big data to benefit the industry as a whole.

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Technology certainly has got a Midas touch! Everything it touches turns into gold, well, almost! Today, there is hardly any aspect of our life that remains technologically untouched. You want to talk to a friend? WhatsApp them. The moment those tick marks turn blue, you know you have your friend’s attention who might be sitting miles away from you. From being a simple communication device earlier, now a smartphone is your single-biggest source of entertainment. Be it music or video or games, you can pick your favourite source of entertainment at that moment. Technology comes to your rescue at so many levels in your everyday life. But what happens if you want to buy a home? Finding a good home is not equal to finding a good food joint that would quickly deliver your food soon after you place an online order, or, is it?

Positive, certainly!

We are living in an age where gadgets, which were once seen only in sci-fi movies, are suddenly getting developed by startups, big and small. At first, we tend to look at them with a feeling of disbelief, but eventually, we adopt them as part of our daily lives. Products like a self-drive car or hyper loops that faced much heat from critics all around are going to get shipped at the next crossroad.

Real estate is no exception to the technology-driven growth that every sector is experiencing. On one hand, we are witnessing the emergence of construction techniques that facilitate fast project execution; on the other hand, we are developing immersive visualisation techniques for project planning and customer experience. Using products like Virtual Reality and Holographics, a user can experience a future project which is probably in its concept phase. Some of the most prominent visualisation technologies that will shape the future of real estate across the globe are:

1.    Holographic projections: Those of us who love science fiction and admire video games, grew up watching the magic created by holographic projections. But, if someone told us this is also the technology that would assist you in buying your dream home, we would find the idea a little stretched. Prepare yourself to believe. When projecting images, videos, and intractable 3D models float like a dream sequence mid-air, it lets you imagine how exactly your future home is going to look. Homebuyers will be able to walk into the living room virtually even before the construction starts. This is quite doable—ultra-bright projection systems can create a 3D scene afloat in the air. Combined with gesture control, holographics can take us to a new reality altogether. The future of Holographics lies in the creation of high frame-rate visualisation realised using voxels created in space. Like virtual lego, each voxel will be layered beside others to create a lifelike scene. Holographics is currently a developmental and expensive technology, which may penetrate our daily lives and who knows, may be in future we will be attending meetings or chatting with friends using this technology. Soon after, we would be picking our homes with the help of this technology. Some real estate players are already making use of this technology in the West.

2.    Virtual & Augmented Reality: Virtual reality (VR) may be in its nascent stage, but the buzz it is creating is echoing loud and far. We can forecast that it is just the initial manifestation of the new world in the making. Virtual reality is going to sit at the core of all the activity we perform daily. Be it communication, entertainment or creativity; we will use virtual reality tools everywhere. If we try to define VR in simple terms, it’s a computer-generated 3D environment that is so real that when interacted with, it confuses our senses and erases the thin line between what is real and virtual. While watching a film using this technology, your senses are often led to believe you are in the middle of it all, losing all consciousness about the movie hall. This very same technology will let you see how the kitchen in your under-construction property would look after the work is complete. You would be able to see the view from your balcony. Soon we will see the advent of technologies like hepatic touch where a user will be able to perceive the sense of touching articles in virtual reality. We have already seen Apple replacing clickable buttons with hepatic touch-based experience where we can have algorithm-based feedback and similar is the case of pressure sensitive digital pens. In coming years, we will be able to touch or smell virtual objects giving an edge to the VR technology.

Unlike holographics, VR has already started positively impacting real estate. Most projects use VR for marketing, planning and monitoring purposes. VR & AR, using head-mounted displays and the concepts of mixed reality, has the power to teleport users to project far away in space or to be built in future.

3.    Gesture & Touch displays: Gesture-and touch-empowered large displays allow multiple users to create and discuss a common project. This technology was pioneered by Microsoft in early years of the first decade and has taken various avatars since then. Currently, under the brand name of PixelSense, it has capabilities of communicating with multiple devices in the vicinity, using gesture controls. A table-top touch display has the capability of integrating all or device to form a unified user experience for people. The technology can make paper-based discussion obsolete which is predominant in real estate. Seeing the pace of developments in the field of touch hardware and projection based displays, any visionary can predict that we will carry foldable surfaces devices in our pockets. The current large displays will shrink down to small foldable screens, allowing a sales person to carry them in their pocket.

Digitizing client meetings using this technology can not only standardize real estate sales and provide an awe experience for the clients but also generate necessary big data to benefit the industry as a whole. These products will soon be a part of every meeting in various industries.

Coming of age

Forced by the characteristic, real estate is generally a late adopter to innovations. The present-day smartphone and internet penetration have increased acceptability to a great extent. Adding to it, progressive technology-led real estate companies such as Makaan.com and Housing.com have accepted the challenge, and are committed to their vision of revolutionising real estate across borders. Technology is the key to solving most of the problems we face daily. The above three technologies will certainly change how we buy or sell our apartments in the near future.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house


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