Digital transformation in the real estate sector

Digital transformation in the real estate sector

The digital transformation, protagonist of the IV industrial revolution, is taking hold in all industrial and manufacturing sectors. Among the sectors leading this important change is the real estate sector.

What we could previously define REAL ESTATE, today we can certainly define it, given the strong contribution of digital, DIGITAL ESTATE, accompanied by the enormous contribution of BIG DATA.

It is therefore a question of trying to make the most of digital in the most technical aspects, those where the machines are unbeatable, transforming them into a tool available to improve the quality of work. The industry 4.0 revolution has already shown the extraordinary potential of introducing technology into the production of goods and I believe that the challenge for the next few years is to move towards services 4.0. It is on the basis of these reflections that the permanent observatory on proptech was born, to identify innovative solutions in the real estate services sector, without forgetting that quality such as intuition, the ability to develop strategies, creativity and flexibility are so deeply human that even the technology of the field cannot replace them”.

How does digital transformation work in real estate?

Digital transformation is taking place in the real estate and construction sector through the establishment of the “Digital Twin”, or a “digital twin”, the exact equivalent of physical elements, processes, places, objects, elements, systems, fundamental in predictive maintenance and useful for radically changing the paradigm of design, sales and production. Related to the digital twin, there are IoT (Internet of Things) systems, which allow a continuous connection with all industrial systems, thanks to a complete connection of these.

The real estate sector is about to be revolutionized with the birth of “PropTech” (Property plus Technology), among which we find real estate crowdfunding startups, nicknamed the new “Fintech”.

With innovation and digitalization, guaranteed by the birth of PropTechs (new companies and start-ups in the real estate sector), a mechanism for research and accumulation of data has been generated, facilitating the work of the property manager and guaranteeing an approach increasingly human and experiential for the same and for customers, transposition also of the birth of the intelligent building, of which there is a complete digital perception and knowledge.

Among the most used enabling technologies in the sector is BIM (Building Information Modeling) which contains all the specific information of an asset or building. Other digital services include the creation of websites, mobile applications, virtual tours and other tools. All this has led to a marked improvement in the user experience. To do this, consider contacting the Swiss agency edana.ch.

BIM is defined by the NIBS (National Institutes of Building Science) as the “digital representation of the physical and functional characteristics of an object”, i.e. the technological tool that leads to the creation of a twin of the built building.

The implementation of technologies such as BIM creates difficulties for small technical studies, given the high costs and high training for the acquisition of skills to administer to personnel, but they are in the structuring and implementation phase. implemented for large companies who likewise are seeing guaranteed excellent results and benefits in terms of effectiveness and efficiency.

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So, is this disruptive revolution an opportunity or a threat for the real estate sector?

Success is increasingly tied to innovation, including digital innovation, in a sector like the real estate market that has traditionally been resistant to change. The fear of traditional companies is great and it is not easy to encounter innovation, to know how to manage it. As such, if you fail to meet it, it overwhelms and annihilates you. The world has seen incredible changes in recent years, the last 10 have been more revolutionary than the previous 100, creating inconvenience but at the same time opening up huge opportunities. We are experiencing changes and we must consciously prepare for them by using the right enabling technologies, essential tools for digital transformation.

The real estate sector is at the heart of the IVth industrial revolution and is ready to be completely transformed.

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