In 1999, the Disney Channel released a movie called Smart House. I was seven years old at the time and thought the idea of a house that could think for itself was incredible. But by the end of the movie, the house has turned evil and tries to hold the family hostage. As long as I’ve been alive, and well before, we’ve had movies warning us about the dangers of technology — and it never ends well for the humans.
Apparently, scientists and tech gurus didn’t heed the warnings of the Disney Channel or the numerous other science fiction movies out there because now we have the Internet of Things.
If you haven’t heard of the Internet of Things yet, it’s actually pretty cool. The idea is that eventually everyone and everything will somehow be connected to the Internet. Early stages of this technology include products such as the Nest thermostat, which can be controlled from your smartphone but also learns your household habits and adjusts itself accordingly. A recent article on the “intelligent edifice” explored some of the commercial applications.
Beacon technology is another example, and one that could revolutionize the residential real estate industry. Beacons transmit a signal via Bluetooth that allows home buyers to view real-time property listings. Rather than seeing a for-sale or for-lease sign, if a buyer is anywhere near a property, a notification will pop up on their smartphone. Beacons can also take potential buyers on real-time virtual tours of a property right on their mobile devices, making business faster and easier.
This is just the beginning, and the possibilities of where this technology could take the real estate industry are endless. Products such as the Nest will help keep properties functioning at peak energy levels, so waste will no longer be a concern. Beacons will make purchasing properties a task that can be done from your office. Research data will be easier to compile, as properties will eventually be able to collect it themselves.
The only thing we have to remember is that one day the robots may take over.
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Zoë Wolff is a reporter with Institutional Real Estate, Inc.
