Market Overview

Driverless Cars, Virtual Tours for Real Estate Prospecting


Technology has long been changing how people live and how trade and commerce works. Of the many industries in the U.S., however, the real estate market remains backward.


On the other hand, as mobile gadgets and smartphone usage continue to drive the utilization of innovative applications, many companies are looking into creating special gadgets and programs that would allow buyers and agents alike to easily survey properties and find leads.’s Mike Wheatley recently listed down “4 Tech Trends Set to Transform Real Estate.” While mostly forward looking, the suggestions are quite in tune with the current trends in digital consumption.


Among the gadgets he listed down is wearable technology, which is believed to generate a lot of sales this year. He said the market research firm Berg Insight projects that smartwatch shipments will increase from only 400,000 this year to 35 million in 2017.


“The technology may serve as a discreet way to keep an eye on your business,” he said.


Wheatley paints a scenario where the agent is able to work while on a driverless car, using wearable technology to call clients while browsing his tablet for specs and home listings.


Although not mentioned in the article, Google Glass may well be included in the list. It can help agents and clients navigate while looking for a property, as well as access applications related to real estate.


Of course drones are becoming a big thing lately when it comes to real estate. Although the Federal Aviation Administration is tightening use to ensure safety and privacy of people, drones have so far helped real estates take good photos and videos instead of spending on a helicopter ride.


The other two items on Wheatley’s list are smart homes, which have actually been in place for the past years though not that widely popular, and driverless cars that will allow people to safely get to their destination.


He said this will allow agents to save up on hiring a driver and be able to present to clients while the car drives itself to the venue.


But do you really need a driverless car when your clients can just browse through a video library of the homes you are selling?


One upcoming real estate trend that Wheatley missed is the availability of 3D virtual tools that allows buyers from abroad or other states to check out homes through a website or a mobile application.


RealBiz Media Group (OTC: RBIZ) has its own proprietary video processing technology that creates home video tours for real estate companies and brokers. It already has 60,000 real estate agents and brokers using the service, making it one of the leaders in the market.


Instead of flying to the area, spending money and time to see a property that may or may not be bought, prospective buyers can instead use the virtual tour to give them an accurate representation of the property.


“The real estate agent has been tech starved up to this point in time and we have developed a system that we call microvideo app,” Bill Kerby, chairman and CEO of RealBiz, said in a recent interview.


The microsite program allows clients allows automatic video creation through listing data and photos. A microsite is also made with a unique web address.


Recently, RealBiz Media also launched the Nestbuilder Agent and MVA video platforms that has seen steady growth more than a month since it was launched this year.


The Nestbuilder website allows agents to create and send home listings to clients, create video tours and track online marketing.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


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