Lucille Wood
- estate
- technology
- July 29, 2022
- 0 Comments
Technology in Real Estate – Out With the Old
It’s time to take legacy solutions like BacNet, Modbus, LonTalk, etc… out of base buildings…forever. While every other industry on the planet has standardized around Internet Protocol (IP), and gained the benefits of open communication, information exchange, and technology that gets more functional as it becomes less expensive, the real estate development and property management industries have standardized around antiquated, limited technologies that are only utilized in their vertical.
Walk into the headquarters of every manufacture of legacy base building solutions and you will find that 100% of them run their mission critical business systems on an IP network with current web enabled applications. Why, because there are no Modbus phones, no LonTalk high density storage devices, no BacNet computers etc… These solutions are based on technologies (ARCnet, Token Ring, RS-232 etc…) that have long been abandoned by mainstream global communications. They were abandoned because they are too slow and too limited in their interoperability to be practical.
That is why in today’s “speed of business” & “on demand” world… property management is still reactive, driven by individuals utilizing “paper in binders” to get the job done. They don’t have the tools that every other industry has.
The returns in construction costs and long term operational & energy savings are available today. The IP solutions for base buildings have been around for years, tenants are demanding more, it’s now time for owners to get involved and challenge the construction industry to stop building and retrofitting facilities with technologies that were obsolete before they were installed.…
Real estate has been one of the most profitable and sustainable business. People have become very rich through real estate dealing. Real estate agents use a lot of ways to ensure that they succeed in increase their business. Large businesses with a lot of real estate agents also use different tactics to improve their sales. Large property dealers often spend a fortunate of their earnings on training their sales staff for increase in business. They often however, overlook the fact that technology has been making a greater impact on our lives. This underestimation in role of technology brings a lot of problems for the old style real estate business people. First of all people have started using technology to locate the properties in any country of the world. Secondly, people use internet more then the physical resources to gather information and intelligence.
