3 Ways That Wearable Technology Can Be Utilized by Realtors & Homebuyers
Ronald Monte | May 3, 2018
The wearable technology industry has grown significantly in the past few years and is expected to continue streamlining and integrating into several more industries. The real estate sector is a shining example of an area that is seeing multiple uses and needs for wearable technology. In fact, it is revolutionizing the way in which real estate agents operate when working in the field and how potential homebuyers shop. Wearable technology is often associated with the millennial generation and data shows that they are becoming the largest group of homebuyers in the country. This is a result of higher rental prices and more millennials needing bigger spaces for their growing families. In addition, wearable technology is increasing in popularity by the baby boomer and Gen X age groups. This indicates that it will be popular for them in utilizing wearable technologies as either realtors or homebuyers.
In this article, we will address three ways in which wearable technology is benefitting the real estate industry for both the agents and the buyers. The experience can be done via devices, jewelry, and apps and this is still a long-term trend that is in its early stages.
1.) Wearable Tech Jewelry for Both Real Estate Agents and Homebuyers for Security
Putting a property on sale means that the real estate agent has to present it to large numbers of homebuyers that are complete strangers. Moreover, the homeowner must place a lot of trust in all parties involved to be responsible, respectful, and amicable within the confines of their property when it is being shown to the public. Unfortunately, this code of conduct is not always obeyed, which can create numerous problems that can result into safety and legal issues. Women make up 63% of realtors in the United States and safety is always an issue, which is why jewelry in the form of wearable technology can come in handy in case there is a safety issue or a hostile individual present at their property showing. A company like Ivy Smart Jewelry comes to mind as they create a series of wearable devices that can come in the form of necklaces, bracelets, and key rings. Their products can be used for sounding loud alarms, sending S.O.S. messages, contacting specific guardians, and alerting authorities through multiple means.
2.) Using Smart Glasses for Online Computer-less Field Work
Smart glasses in the form of augmented reality visors show great promise for real estate professional usage while working on the field with potential homebuyers. This wearable technology has many uses that can allow the real estate agent to work online while having their hands free from their smart phones in order to do multiple functions. The F4 augmented reality visor made by Italian company, GlassUp, can create several applicable functions for real estate agents and homebuyers. It can be used as a phone, video streaming camera, and indicators for new data and security alerts. The F4 also includes an optical display, voice control, Wi-Fi, Bluetooth, and numerous Apps developed for endless functions. This type of product can help realtors publish and promote live images of their listings as well as downloading data in real time without using their hands with smartphones. In addition, homebuyers can use this while looking at new properties, detecting any flaws in the property, and live streaming images to their friends or family members that cannot be at the property showing in real time.
3.) Smart Watch Technology for Realtors and Homebuyers
The use of smart watches is a wearable technology trend that is constantly increasing in size. The real estate agent and average homebuyer are no different, since smart watches can be used in endless circumstances from professional to casual situations. The Apple Watch has helped revolutionize this part of the wearable technology industry since it allows for the use of numerous Apps such as City Mapper (navigation) or Fantastical 2 (calendaring events and to-do organizer). In addition, the Apple iWatch enables the user to still access their iPhone features by making calls, and texting. Whether it is to download data, schedule appointments, or connect with colleagues and potential clients through voice or text message, the smart watch has become a home-away-from-home for those accustomed to using only their smart phones.
Wearable Technology is a Valuable Tool for Realtors and Homebuyers
These are only three ways in which wearable technology can benefit the real estate industry since it can be utilized by both the real estate agents and homebuyers. The usages of wearables are endless and this upward moving trend is still in its infancy states. As the wearable technology industry further develops, we will witness even more functions that can be used for buying and selling properties.