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12/07/2021

Real estate moves 4.0 to adapt during the pandemic

The technologies of the 4.0 revolution such as virtual reality, augmented reality, AI, Blockchain, 3D printing… are changing the face and the way the real estate, construction, and industry operate. Under the impact of Covid-19 and breakthrough solutions from startups and big companies, this field is changing very quickly. 

Livestream to sell real estate

The 4.0 industrial revolution with the great advancement in technology based on the Internet of Things, artificial intelligence (AI), and Big Data has had a strong impact on the world in almost all fields and industries, including real estate.

Covid-19 has created something that no one expected. One day, what people Livestream to sell is not clothes, necessities,… but real estate. 

When society restricts travel, Livestream becomes a channel to help real estate brokers reach customers, and help them get a rough picture of a plot of land or an apartment or house. 

“This is a new channel to help us provide information to customers. Over the past 2 years, the real estate industry has had to change to survive, including the introduction and sale of real estate via Livestream” – Mr. Minh – said a real estate broker. 

Virtual reality trading platform

Not only sellers, thanks to 4.0 technology, but real estate buyers also benefit quite a lot from this 4.0 revolution. Smart products tied to virtual reality technology allow realtors to bring real images of homes to buyers. From there, customers can set individual requirements for the design and selection of equipment for their home, making the choice more optimal. 

Ms. Mai – a customer said: “The picture is so real that I feel like I can touch it. Moreover, I can look at the apartment from different angles carefully, which even when viewed live I’m not sure I can do it. That helps me make decisions easier.” 

It is known that in the market, one of the leading companies in the implementation of this form is Cenhomes. Thanks to the implementation of these technologies, in 2020, the Cenhomes. vn online sales application of Cen Land reached about 14,000 transactions, an increase of 5 times compared to 2019. 

In addition to Cenhomes, a series of real estate businesses have also applied 4.0 technology to business and sales. These can be mentioned as Sunshine Group with Sunshine App, Vinhomes with an online trading platform, Danh Khoi with an online sales app, and a series of other real estate businesses. 

Blockchain connects, manages the transaction process

While technologies are focusing on enhancing experiences and driving sales, the construction and industrial sectors are still open. The management and connection of components such as contractors, construction units, material suppliers, architects, construction supervision units, banks, insurance, valuation organizations, legal procedures … are being used in blockchain technology by many companies to manage. 

Recently, XIXO – a startup in the construction field, has also pioneered blockchain technology to simplify the seemingly complex processes of this field with a common transaction platform. Users of XIXO are not only individuals but also contractors and construction units. Blockchain technology will create smart contracts that guarantee the interests of all parties. Money is paid on a drip basis according to the contractor’s completion schedule according to the designs of the smart contract. If the schedule is slow or the quality is not guaranteed, the contractor will be fined according to regulations. 

Mr. Truong Thanh – CEO and founder of XIXO said that “When a person wants to build a house, instead of making dozens of phone calls to survey and consult, from materials to design and construction, users just need to visit the website or application XIXO, give requirements and estimated budget, XIXO will give suggestions on design, construction unit, material supplier, even suggest service provider insurance, guarantee, or bank loan. At the maintenance stage, the artificial intelligence system will analyze and give warnings about the maintenance time of the equipment in the house, avoiding the situation of “knowing to fix it”.

AI to support decision making, real estate management

It is known that technology 4.0 has had a significant impact on the real estate market. Many of the world’s leading real estate companies “predict” this as AI algorithms become more and more intelligent. Not long ago, Skyline AI company based in Tel Aviv, Israel listened to the advice of an AI system they developed to invest 26 million dollar in two residential real estate projects in Philadelphia, USA after the system determined that the two projects were underinvested. 

In addition, the brokerage has also become easier as analytical algorithms will make it easier for buyers to find what they want – something that previously required a lot of brokers to do. This technology will also be included in the exchanges to analyze and score the best service providers and recommend to customers. 

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