There’s a movement afoot in the commercial real estate industry toward the expectation of real-time data and analytics from any player who wants to stay at the top of the game. Many see wearable technologies as the next phase, and as a development that is ideally suited to the real estate industry. It’s already hard to imagine going out into the field without your phone or tablet; some wearable devices are available now that perform the same functions.
A major advantage of wearables is the mobility they provide, along with hands-free operation. They’re tremendously useful to anyone who needs instant access to data in the field. This includes real estate professionals as well as lawyers, sales teams, emergency personnel and others.
The wearable technology currently available falls into 3 main categories:
These not only provide instant access anywhere, they also enhance your personal security, because they can call 911 for you and track your location. Information can be synced automatically with your other devices. Some brands to check out are Pebble, Android Wear and the Apple Watch, coming in April 2015.
Some of the features of a smartwatch can be enjoyed with the even smaller technology offered by companies like the makers of Cuff. This “smart jewelry” provides the safety features mentioned above, and also alerts the user to calls.
Eyeglasses with a built-in computer, products like GlassUp and Optinvent are completely hands-free for easy use in the field. They’re more affordable than earlier efforts, like Google Glass, and have great potential for professionals on the move.
Wearables are one way to increase your efficiency and responsiveness, improving customer satisfaction. The days are long gone when we were tied to our office. Smartphones and tablets let us take everything along with us into the field, and wearables are just the logical next step. With wearable technology we can perform all of the same tasks without tying up our hands.
We can use wearables for communication, document sharing, and photography. Provide a remote client with live video of an interior, for example. Or send specifications or contract information to multiple parties, without carrying around a device. The possibilities for enhanced service and efficiency are very exciting. Whatever you do with your phone or tablet now can likely be done on a smartwatch.
No worries about forgetting to take along your device or not having it when an unexpected opportunity arises.
What will they think of next? The question is certainly apropos with regard to this rapidly developing type of technology. A recent article in Wired predicts that wearables will get more accurate and smaller. They’ll become integrated into other things that we wear, so that they may be practically invisible. It also suggests that wearables will use efficient and alternative power sources (like body heat!), and will be seamlessly integrated with other systems –your smart house, for example.
With instant access an indisputable edge for commercial real estate, we see no obstacles for the adoption of wearable technology. It seems custom made for real estate, and more innovations and applications are just around the corner.
Are you jumping on the wearable technology bandwagon? Let’s continue the conversation on our Facebook page!