The Role of Technology in modern Property Development

Technology in 2024 has become a part of our everyday life and there is no surprise it has also changed the way we operate at Oviss Group.

The role of technology in modern property development has dramatically evolved driven by the wave of technology innovations. Whether you’re a developer, investor, first home buyer, or you’ve landed on this blog in your search, here are a few technology advancements which are enhancing the property development industry. 

VR.
Virtual Reality (VR) has become a game-changer with inspecting a property. Potential buyers can now take virtual tours of properties from anywhere in the world, any time of the day. These VR experiences are not only convenient but also allow for a more interactive and detailed view of the property than photos or videos can provide, you can step into your future living room and sit on your couch and see the level of detail the property has to offer. For property developers, you have an ability to impress clients with cutting-edge VR technology—making it a super powerful tool in converting leads to sales.

DATA.
Market Analytics and Data has evolved significantly in the last decade. Property developers now have access to various tools which provide so much intel and knowledge at a click of a button. Some of the insights the property developer can review are market trends, what is the property value, assess any potential risks and identify opportunities.

CRM.
Customer Relationship Management (CRM) has never been more advanced than today. The CRM can track leads, follow-up after inspections, send targeted eDMs to databases and assist property developer’s to never miss a lead. The CRMs role is to assist property developers with reducing admin time and allowing them to focus on the day-to-day. 

DRONES.
How many times have you heard a drone or looked up in the sky and seen one flying around? Drones play a critical role in modern property development. Some property developers use drones to see a bird’s-eye view of the site and some use them for aerial site surveys to reach the hard places you are unable to see. Additionally, property developers use drones for marketing photography and videos, which adds another view for potential buyers.  

SOCIAL MEDIA.
Year-after-year social media plays a more important role than the year before in modern property development. Through social media, the property developer can create engaging content, target ads, and manage social media campaigns which can ultimately reach a broader audience and generate new leads and/or potential buyers or sellers. Investing in social media will allow you to create a community or audience who you talk to in a personalised way. 

Technology is not just a trend but a fundamental driver of change in the property development industry. It plays a really important role in modern property development and an opportunity for those who adapt and leverage the new technologies available in the industry.