Advanced technology continues to expedite transformation in every industry, including construction in real estate. Through the use of improved mechanization and equipment in real estate, construction managers can now deliver high-quality projects.
Adoption of the latest technologies in the construction sector has brought a significant change in the real estate industry. Such advancements attribute to improved efficiency in construction and project management, and timely completion of development projects.
In this article, we explore how the construction technology has brought positive changes in the real estate industry. You will get to understand why it is vital to embrace technology in every construction project.
1. Improved Management of Construction Projects
Several technologies are used today to manage construction projects in real estate. Such techniques include augmented reality, drones, building information modeling, project management software, and robotics.
Project Management Software (PMS)
PMS is one of the latest technologies used to improve efficiency in a construction project. The software defines the roles and responsibilities of every worker, making all stakeholders more accountable.
Besides improving communication between workers, the PMS can also keep track of all records like project budgets and schedules. This feature of PMS is deemed to be extremely useful in aiding the management of construction payments, considering that keeping track of expenses will grow in complexity at the same rate as the size of the construction project grows. Read more about construction payments in this extensive blog post by Procore.
Building Information Modeling (BIM)
With the BIM 3D model technology, construction managers can get a clear insight into a building’s plan and design. Besides providing a digital presentation of a building, BIM can also evaluate the construction costs, maintenance, and project duration. In other words, the BIM improves the efficiency of a construction project.
Augmented Reality (AR)
The AR technology provides an insight into what the building or site will look like when its construction is complete. It uses computer-generated models and images. Contractors can use the technology to make changes in a building design before construction begins.
Contractors and construction managers use drones to monitor every operation in a site. Drones provide real-time data by capturing the images and videos of an ongoing project. With the help of drones, project managers can supervise the project remotely. The drones are also a useful technology to manage risks involved in construction.
2. Promotes Sales and Marketing in Real Estate
Real estate dealers use technology to create brand awareness and improve customer relations. A good example is the use of Virtual Reality.
Virtual Reality (VR)
With the help of VR technology, prospective clients can visualize what an apartment will look like before its construction is complete. The VR allows clients to view the interior and exterior designs of a house still under construction.
Developers can use the VR technology to market and sell apartments before completion of the projects. Real estate investors can use the VR data to make an informed decision without necessarily going to the construction sites.
3. Enhanced Facility Management
Real estate investors use technology such as robotics and project management software to manage their property.
Homeowners use robots to automate tasks such as cleaning. One beautiful thing about this technology is that one can remotely control the robots using an app installed on a mobile device. Most buildings today use robots as receptionists rather than humans.
Robotics is also widely used during the construction of apartments. For instance, contractors use exoskeletons to improve efficiency. Construction workers strap the exoskeletons on their bodies, allowing to lift and move heavy objects
Project Management Software (PMS)
Besides improving the management of a project during construction, the PMS can still be used to manage facilities after installation. The PMS can be used to control a building’s daily maintenance activities.
The software can also provide helpdesk services in an apartment, rendering a property’s management system more efficient. Some PMS software can help facility managers and property owners keep track of rental payments.
4. Improved Data Handling
Real estate investors collect and handle vast amounts of data, justifying the need for a robust data management system. With construction technologies like project management software, real estate businesses can store apartment data in a single place for easy retrieval.
Top real estate companies harness big data to improve customer experience. To reach the target market, the real estate investors must find out who their potential clients are, what they like, when they will buy apartments, and how to reach them. Using construction technologies can help them to collect such data.
5. Improved Safety of Workers and Tenants
With the help of technology, contractors will deliver high-quality projects that will promote not only the safety of workers but also the tenants of the apartments.
Also, the use of advanced technology, such as wearables and drones, during construction reduces the rate of onsite injuries and fatalities.
The wearables include high-tech devices such as vests, hard helmets, and wristbands, which reduces the risk of injury during an accident. Some wearables have sensors that alert the construction workers when moving into potentially dangerous zones.
Specialized wearables have emergency alert buttons that workers can press when in need of help, especially during an accident. The supervisor will receive the signal and respond promptly to the situation.
When it comes to the safety of workers, drones can inspect the construction areas considered risky to human workers. The devices can collect and record data in hard-to-reach regions in a construction site, saving time and money.
Construction technology and real estate are two whole areas that construction firms and real estate companies should work jointly to improve. Adopting relevant technologies in construction can boost the productivity of a real estate company.
The project management software allows contractors to organize and supervise every operation in a construction site.