The real estate and property industry has resisted change for a long time but is now being disrupted by some major technology trends, including big data, artificial intelligence, augmented reality, blockchain, and IoT. Here we look at each of these key trends and how they are reshaping the industry.

1. The Top PropTech Trends:
6 Technologies Disrupting
The Property And
Real Estate Industry

2. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
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IntroductionIntroduction
No industry is immune to technological advances, but real estate is one niche that has
been traditionally slower to adopt new trends. Not any longer! PropTech is booming
and changing the way we buy, sell, and interact with our properties. I have recently been
to ProbTech events to deliver keynotes, and more and more companies in the industry
are asking for my advice on tech transformation. So, with this post, I would like to share
the key trends every real estate professional and property manager needs to be aware
of.
Here are my top six PropTech trends that are happening now:
The Top PropTech Trends:
6 Technologies Disrupting The Property
And Real Estate Industry

3. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Big Data
The real estate and property management industries are uniquely positioned to benefit
from big data. The more data we have, the more data-driven decisions we can make.
Websites like Zillow, Trulia, and Redfin have disrupted the real estate industry using the
power of big data. These companies are able to compile and sometimes collect data on
buying and selling trends in a specific area, traffic, demographic information, consumer
survey results, and more and then analyze and collate that data to offer insights on
pricing, home-value trends, and potential value in
certain neighborhoods.
For owners and property managers, big data is about gathering realtime and historical
information about all kinds of building systems — like electrical, HVAC, fire/life safety,
utilities, telecommunications, and others — and translating that into proactive
maintenance. In some cases, it may even alert a property manager to an equipment failure
before it happens, allowing them to perform maintenance or source a replacement with
minimal downtime. That keeps tenants and property managers happy.

4. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
AI and machine learning
While the real estate and property industries may have been slower to adapt to changing
technologies, they are catching up, and AI and machine learning will help make the data
they are already collecting more actionable.
For example, right now, property search sites rely on simple preferences like location and
size to display properties for sale; in the near future, however, AI may enable these sites to
recommend properties based on preferences, personality traits, and values.
Chatbots on these search sites may be able to answer consumer questions quickly and
easily, and they might even accompany buyers to showings. Several companies are
working on technology that would allow a real estate agent to conduct showings via a
tablet or with a chatbot, allowing one agent to do more showings in a day.

5. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
AI and machine learning
AI will also be able to help predict pricing trends more accurately. This type
of technology would look at historical trends in the market for an area, but
might also take into account area crime, schools, transportation, and marketplace activity.
It may also make the buying experience faster and easier. Startups are already creating
ways to digitize the entire homebuying experience — no more reams of paper to read and
sign at closing.

6. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Virtual and augmented reality
According to a survey by the National Association of Realtors, nearly half of all potential
homebuyers search for properties on the internet first. Virtual reality and augmented
reality will make the online search and home buying experience even more exciting and
accessible.
Realtors can create virtual reality tours of properties that potential buyers can experience
from the comfort of their own homes — or to help long-distance buyers virtually tour
properties they can't physically visit.
Staging is a great way to increase the perceived value of a property, but it can be a heavy
expense. Companies like roOomy are enhancing the online buying experience by allowing
realtors to virtually stage a property by digitally adding furniture and accessories to
interior photos.

7. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Virtual and augmented reality
For new builds, virtual reality can create realistic architectural images and walkthroughs to
help buyers understand and experience the property — even before construction begins.
And for property managers, creating a virtual reality tour of the space might help new
tenants get acquainted with their space. Instead of lengthy written instructions on how to
use the thermostat or environmental controls, for example, a virtual tour could quite
literally walk the tenant through the process, demonstrating each step along the way.

8. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Internet of Things
The Internet of Things (IoT) refers to “smart” devices and appliances that are digitally
connected to the cloud, constantly sending and receiving information.
As mentioned above, machines that include smart sensors can alert owners or property
managers to potential problems and even allow for predictive maintenance. But in the
future, homebuyers may be able to download a comprehensive history of a home’s
maintenance and upkeep through its smart devices connected to the electrical, HVAC, and
plumbing. No more guessing or paying for costly inspections to understand the condition
of a house.
These sorts of devices also help with energy efficiency and can create real cost savings for
the homebuyer or property owner.
As the IoT grows, we’ll go beyond individual smart devices and start seeing entire smart
buildings — even smart cities — that are constantly connected, sending, and receiving
data. That will pave the way for big data and AI and machine learning to create even more
insights and improvements we may not even be able to predict yet.

9. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
5G
The promise of 5G is key to a lot of these transformations. 5G will provide more
bandwidth that will allow more smart devices and sensors to connect to the internet. The
higher bandwidth will create truly wireless workplaces and potentially allow more workers
to telecommute.
One example of how 5G may affect the real estate industry is through home security. With
5G, it will be easier (and less expensive) to connect many sensors and cameras around a
property. These devices will be able to capture higher definition images and transmit them
almost instantaneously anywhere.
But to accomplish all this, we need considerably more 5G base stations than for current
technologies, and they need to be placed much closer together. This could have impacts
for commercial property owners who may be able to lease space for telecom providers to
install base stations or even install their own base stations and provide power and fiber
connections.

10. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Drones
Drones might seem like a gimmick in real estate, but they aren’t going anywhere and have
the potential to change the market.
Digital, multi-perspective site visits are now possible, creating emotional storytelling
around a particular property. They provide relatively easy and budget-friendly aerial
photography that would have been prohibitively expensive just a few years ago. They’re
especially useful for displaying bigger homes and properties, giving a real feel for the size
of a place.
Drones can also be used to provide a tour of the area. For new builds, a drone might
capture the feel of a new neighborhood. It could also help people considering a move to a
new town or neighborhood get a feel for the place before visiting.

11. © 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Drones
And drones can also be used to spot potential risks or maintenance problems, which could
lower the price of a property or be used in negotiations.
At some point, drones may even be used to tour a property remotely. Right now, it's
difficult to navigate a drone through a small, enclosed space like a typical home. But for
large commercial or industrial sites, the potential already exists. Drones can also be useful
when surveying properties or creating drawings of as-built properties.
As you can see, property and real estate professionals should ignore technological
innovations at their own peril. These PropTech trends are just the beginning of the wave
of improvements and changes to come.

12. © 2017 Bernard Marr , Bernard Marr & Co. All rights reserved
© 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a
strategic business & technology advisor to governments and companies. He helps
organisations improve their business performance, use data more intelligently, and
understand the implications of new technologies such as artificial intelligence, big data,
blockchains, and the Internet of Things.
LinkedIn has ranked Bernard as one of the world’s top 5 business influencers. He is a frequent
contributor to the World Economic Forum and writes a regular column for Forbes. Every day
Bernard actively engages his 1.5 million social media followers and shares content that
reaches millions of readers.
Visit The
Website
© 2017 Bernard Marr , Bernard Marr & Co. All rights reserved
© 2019 Bernard Marr, Bernard Marr & Co. All rights reserved
Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a
strategic business & technology advisor to governments and companies. He helps
organisations improve their business performance, use data more intelligently, and
understand the implications of new technologies such as artificial intelligence, big data,
blockchains, and the Internet of Things.
LinkedIn has ranked Bernard as one of the world’s top 5 business influencers. He is a frequent
contributor to the World Economic Forum and writes a regular column for Forbes. Every day
Bernard actively engages his 1.5 million social media followers and shares content that
reaches millions of readers.
Visit The
Website

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