Instructor: Aleksi Aaltonen, Section 002

Automation is Humanizing Property Management Experience

Related image The Real Estate industry is not the first thought of when it comes to technological advancements. However, that has changed over the last years. Real Estate tech investments have ballooned from $33M to $5B since 2010, mainly focusing in the property management. Perhaps this has been the topic for many Real Estate agents as they are fearing that it would replace high-value and negatively impact face-to-face interaction, technology and automation, when used thoughtfully, humanize the customer experience.

There are different ways we could look at the benefits of this market-industry integration. For example, real estate tech investments may provide solutions that systematize how properties and tenants are managed, while others contribute to the data insights that is being provided to landlords and tenants. From a data visualization perspective, the amount of information retrieved can be overwhelming, but it also led firms to focus on how to best visualize all kinds of constant streams of information. Leverton, in one hand, applies AI / Deep Learning technology to extract data from real estate firms and create data visualizations and analytics from unstructured data and converted into meaningful insights. Another emerging product that promises help visualize data is called Matterport, which allows people to virtually walk around the interior of an existing space using 3-D renderings.

2 Responses to Automation is Humanizing Property Management Experience

  • I think it’s very interesting how much the investments have grown in such a small amount of time. There always seems to be a fear of technology negatively impacting face-to-face interaction, but I think that it will improve the data tracking and show different ways to interact that just a f2f interaction cannot do. It’s also interesting how certain real estate companies will use this type of technology, since it is still very new to the industry. Like we mentioned in class, it could either end up being worthwhile, or the technology could all be there but it can still fail, if people in the Real Estate sector choose to keep doing things the old fashioned way, which seems unlikely.

    • I think there are many situations in which you specifically want to avoid F2F interaction. It is simply often unnecessary, inefficient and require you to travel – e.g. I have properties in the UK and Finland but take care of letting them etc. through digital tools. Also, a house or a flat is often the most valuable asset people have so it makes a lot of sense that the management of this type of asset is becoming more digital. There is a lot of business interest in this space but somehow the industry is developing slower than it was expected, e.g. innovative companies like Nest have not yet become such a big hits it looked like some years ago.

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