Commercial real estate

Author: candi

real estate

What Is The Future Of Digitization In Real Estate?

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Digitization is taking the world by storm and real estate is also feeling the impact. Rapidly transforming technology is changing transactions, search and inspection of homes before making a purchase. The future of digitization in real estate still looks bright with many innovations expected to be employed in the industry. Here is how the future looks.

Augmented Reality

In the future, the real estate industry is expected to apply the augmented reality technology and allow their clients to tour their properties at the comfort of their homes. This can be done through electronic devices without having to physically visit the properties.

Augmented reality may become the most popular and most preferred method of viewing properties as it offers a better view than normal photos. Besides, with the world still battling with the pandemic, most people still fear to travel, while there are also travel restrictions in some places. Despite this, businesses still want to do the steps and close deals without wasting too much time.

Internet Of Things

What about opening your door just by the press of a button? The IoT enables the interconnection of appliances around your home and lets you easily operate them. The real estate industry is soon shifting in this direction as buyers now demand to link together, for instance, the electrical panes, doors, and cooking, creating a synchronized home system where anything can be controlled through the internet and just a button.

Cloud Transactions

Blockchain and cryptocurrency have had great impacts in recent years. Cryptocurrency is rapidly gaining momentum and some major companies are already accepting it as a mode of payment. The first house to be sold in cryptocurrency was in Britain. Even with this idea still new in real estate, the rapid growth and popularity of cryptocurrency will soon be normalized in real estate transactions.

Investment Without Buying

Also, a popular trend that is slowly getting in the industry. The future will see more investors putting their money in real estate focused companies, or even purchase stocks from real estate companies. This means you do not need to necessarily buy a property to invest in real estate.

iBuyer

This is a new trend that is still developing in real estate. “iBuyer” can be a company or an individual who uses algorithms to buy and sell properties in just a few days.

They buy a property at a low rate and sell it at a higher price in the open market.

This trend has picked up due to some reasons like property owners wanting to sell their property fast without delay.

Property Estimates

Apps and programs are developing to help realtors easily access relevant information in the industry. For instance, apps like Redfin and Trulia are already taking the industry by storm by offering statistical valuations of properties.

The prices form the base for negotiations and price setting. These apps give buyers an insight into what they may pay for the property.

Conclusion

Technology is changing every field of our lives. Real estate is also keeping up with the latest trends in technology. The future still holds a lot for the industry.

Future homes
Wood house

Eco-friendly Home Building

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Eco-friendly houses are made from materials that are not harmful to the environment. Building such houses is a great plus for our environment. It involves using natural products that sustain energy, air thus being environmentally friendlier.

Materials Used in Building Eco-friendly Homes

Choosing materials for building sustainable homes could be overwhelming. Building homes that are not harmful to the environment may require recycling used materials, using sustainable materials, and low carbon-emitting materials. Here are the commonly used materials.

Strawbale

Straw bales can be made from rice, oats, wheat, or barley. It acts as an excellent insulator and is placed on walls for cooler temperatures. Straw also makes the house walls completely soundproof and is also easy to grow.

Strawbale

Sheep wool

Clothing industries use sheep wool to make cozy sweaters since they act as an insulator. Wool can also be incorporated into the construction industry for a similar reason. It can make energy-efficient walls and is eco-friendly.

Bamboo

Bamboo is quickly grown and produces much less carbon compared to many trees. Also, it is very durable and looks great.

Concrete/stone

Precast concrete is very friendly to the environment and can also be reused since it is highly durable. Natural stone products such as sandstone, marble, limestone, and granite extracted from the earth can be used for decoration purposes.

Recycled/Reclaimed Wood

Recycled wood has a much less environmental impact as opposed to harvesting new wood. These wood products can be used to make floors.

Earthen Materials

Earth materials have been used for construction over time. Adobe bricks are made from earth, majorly clay and straw. Rammed earth is also a popular material formed by a mixture of dirt, sand, gravel, clay, and silt compacted together.

Why Build an Eco-friendly Home?

Building eco-friendly has many benefits both to the environment and to human life.

Conserve the environment

The use of recycled and energy-efficient products results in less environmental impact on pollution and resource use. If many people take this step of building sustainable houses, they will be less environmental pollution.

Save money

Using locally available and reusing materials saves you a lot of money that you would use buying materials. Also, most materials are cheaper compared to their counterparts.

Protect your health

Most traditional building materials contain volatile organic compounds. These compounds are not optimal for people living in the house. Other materials also encourage the build-up of moisture, which causes mold and mildew. Using materials that are non VOC and moisture resistant helps in building your health and enhancing the environment.

Home Repair Services

Flex Drywall repair service is a company that deals in all essential home repair and fixing. They provide services around Northern Virginia ad Maryland. They deal in drywall repair, house painting, soundproofing, ceiling repair, mold removal and remediation, and drywall installation.

 

Conclusion

Our prime duty is to conserve the environment so that even our future generations find a better environment. Environmental conservation begins right from home, by building eco-friendly houses that are highly sustainable.

home

Changes in Real Estate Market After Redfin Corporate Agents

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Technology-enabled companies such as Redfin have brought about changes in the operation of the real estate market. They have negatively impacted traditional realtors since they aim to redefine real estate to favor consumers.

The following are changes in the real estate market that have resulted from Redfin corporate agents.

Dying of Standalone Realtors

While some people still prefer having people who can take their time in making these important financial decisions, their need is slowly becoming obsolete. Redfin has had an immense impact on the selling and buying process. Nowadays, people are using online services to make their purchases without the need to visit realtors physically. 

Cheaper Home Selling/Buying

Additionally, Redfin agents connect with a buyer or seller quickly, making the process faster and even less expensive than traditional agents.

People who have been previously skeptical of online real estate services are now considering such services. Within a short period, you can get your dream house also at affordable rates instead of a real agent’s services. 

Use of Technology in Real Estates

Another tremendous change Redfin has come up with is the 3D walkthroughs or homes. In real estate, seeing is a critical step in home buying. The technology enables a customer to see through a home before visiting. It provides a high resolution, an interactive view that is powered by 3D technology. This technology has brought better convenience throughout the process.

Redfin brings about a better experience with its continuing investment in technology. With different technologies at hand, they have ensured home buying or selling is convenient. Virtual reality enables one to view a house in the comfort of their homes and get a real impression of the house.

Real Estate Processes Across Boundaries

A traditional realtor is only able to perform processes to locations around them. The virtual technologies allow Redfin to penetrate a more extensive market throughout different areas. This real estate agent allows one to search for houses in different cities at a click of a button.

Home Purchases Without Agents

Redfin brought a new venture that enables house buyers and sellers to buy properties without an actual representation. It, therefore, saves on the commissions they would have to pay.

With the new growing generation, there is a different set of consumers coming up. Most people are now more confident in technology. Buyers would prefer information based on facts rather than the contemporary use of agents.

Conclusion

In the past, the physical and online worlds were seeming different. With the current use of technology in almost all industries, the real estate industry didn’t need much technology. People are skeptical about closing big deals online; however, Redfin and several iBuyer platforms have seen the change of these perspectives. The inclusion of high-end technologies and efficiency in processes has towards growth. They have hence changed how people viewed the real estate market.

Commercial real estate

Commercial Real Estate After Pandemic

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What will commercial real estate (CRE) be like after the pandemic? In a matter of very few weeks, the pandemic has generally affected all sectors. People have had to adapt to physical distancing, which is probably the first time a global crisis has been experienced in the modern world.

Commercial real estate has seen impacts from the ongoing pandemic. Companies are now reviewing their need for office space since employees are working from home. However, the sector still has great hopes for reviving and becoming better in a post-covid era. Here is an overview of the commercial real estate industry after the pandemic.

The Physical Office Space

Is the office disappearing? During the early days of the pandemic, the need for physical office space was envisioned to decline. According to research by CBRE on 126 real estate executives, 41% of the executives said the demand for a physical office would decrease, while 38% said that it would still be necessary.

The demand for high-quality and spacious office space may increase due to the pandemic’s long-termed office densification effect. For instance, a company occupying two floors may see the need for using three floors to keep up with physical distancing.

Companies are likely to incorporate a hybrid working model. Employees can choose to work from home or in the office. Some people may have seen the importance of remote working since they do not commute. While others like the social interactions from a physical office. On the other hand, companies believe that optimum performance is achievable from the same physical place. Thus the possibility of retaining or even acquiring bigger spaces is a positive side for commercial real estate.

Technology Trends and Commercial Real Estate

Before the pandemic, CRE  was working towards digitizing processes and providing technology-enabled services for their tenants. The crisis has brought about a greater need to digitize operations.

After the pandemic, CRE designs will incorporate high technologies like; 5G, teleworking, artificial intelligence, voice recognition & automation, and augmented reality.

Suburban Move

The need to cut down on the company’s costs will need office space in the suburbs. Micro mobility will hence reduce the concentration of office spaces that are near public transport hubs.

Health-Focused Commercial Real Estate Designs 

The design and construction of buildings will be more centered on the well-being of its occupants. Contactless appliances such as doors, windows, and lifts are expected to increase. The designs will also focus on high ventilation for the health and well being of the people.

Centralizing Real Estate Cash Management

Real Estate has always been decentralized, with many decisions being made at the property level. Given the uncertainty of the covid crisis, the management is providing more centralized cash management. The pandemic has led to the change of CRE cash handling and control.

Conclusion

The Covid-19 pandemic did not leave behind the commercial real estate. However, the sector is eyeing significant aspects such as technology and high office space need towards re-emergence after the pandemic.  Despite the possibilities of people remaining as remote workers, CRE is looking forward to the need for improved spacious spaces by companies.

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