The Best Commercial Real Estate Technology of 2019 | Akular

The Best Commercial Real Estate Technology of 2019

The Best Commercial Real Estate Technology of 2019

Within the past two decades, technology has drastically changed the way we go about our daily lives. For instance, think about all the things we use our mobile devices for. We use it for driving directions, communication, a way to find new information on the internet, pay our bills, and so much more. Technology has also changed just about every industry. You see new technology in medical offices, restaurants, business offices, construction sites, and now commercial real estate. Augmented reality is what is changing the commercial real estate industry and it all started with a popular game.

Augmented Reality Surfaced by Pokemon Go

Augmented reality has been around for years, but it wasn’t until the popular game Pokemon Go, until it surfaced. The game presented digital imagery on a person’s view of the real world by using a smartphone screen or headset. In the game, players pass through the physical world as they followed a digital map to search for cartoon creatures that surfaced as they went along. People used their smartphone cameras to find these creatures. Once a creature appeared, the players would throw Pokeballs at it until it was captured.

Augmented Reality in Other Industries

This game went viral overnight, millions of people around the world were using augmented reality to capture the Pokemon creatures. Pokemon Go was just the start of a new technology for industries today. Architects began to use Augmented reality to visualize finish projects in real life. Retail stores such as IKEA, the popular furniture store, uses augmented reality to allow buyers to picture items in real life before they purchase the product. The automotive industry has also caught onto the augmented reality trend. BMW, the German motor for example, uses Augmented reality to display speed and navigation to prevent the driver from becoming distracted. The speed and navigation system are displayed to them onto the glass of the windshield so only the driver can see.

Augmented Reality Making Its Way Into The Commercial Real Estate Industry

Augmented reality has been successful in other industries. So, how can augmented reality be used in commercial real estate? As you can imagine, helping residents to see and feel a space that is not yet created is huge for the industry. With this new technology, you can create an experience that will instantly spark a connection for the future resident to see the potential for their business.

AKULAR is an app you can install on your mobile device which will allow you to experience your development in 3D before its built. AKULAR is changing the way you do business in the commercial real estate industry. Selling a big development is tough but selling a development that is not yet built is even tougher. When you use the AKULAR app, the presentation is just about done for you. Before AKULAR and augmented reality, it was so important to catch the attention of stakeholders. If they lose interest, the deal is pretty much over with. With AKULAR, you no longer have to worry about capturing interest. Your audience will be blown away by the fact that they no longer have to imagine the building in real life because its already there for them.

Not only is augmented reality great for changing the way you present your developments but is will save you time and money. You can upload as many plans as you desire into AKULAR, all for free. If you have any changes that need to be made to the plan you can do so and then share with your customers or collaborators. This will save you and your audience time and money because you no longer have to set a time to meet (unless you wish to) every time there is a change to the development. You can make the changes, share them, and the others can then access the development in their AKULAR app.

When you use technology like AKULAR, you reduce the chances of encountering any complications during building and as a result, can speed up the building process. This is a huge advantage for the commercial real estate development industry because retailers that go into this space encounter their own issues when the completion date is delayed. This will change the way you do business in the future and help to enhance your reputation.

How does AKULAR work?

Working with AKULAR is easy. The first step is downloading the app, which could be found here. You then upload a plan (or as many as you would like,) and plug in the GPS coordinates of your development so you can then experience your project in the actual surroundings. Once the plan is uploaded at the location, you walk with your headset or tablet to walk in and around your 100% scale model as if the project was already built. You can get an idea for how high the ceilings are, how large a room is and an understanding for the lighting in the rooms. Once you’re done presenting or exploring the development, you can save your plans and share them with your audience.

Augmented Reality: The Future of Real Estate Development

It`s no surprise that augmented reality is the future for the commercial real estate industry. It has been predicted that there will be 3.5 billion AR-Enabled devices by 2022, and the industry will then be worth nearly $85 billion . The truth is, not only to those in the commercial real estate industry need augmented reality technologies, but your buyers and property owners need it to. With augmented reality, everyone can save time and money as you and your team serve the needs of the occupants. While this new technology has great potential, it`s important to note the challenges. Perhaps the biggest challenge with augmented reality technologies emerging the industry is that your competitors are catching on. If you’re not getting on board with the trend, you are missing out on business and maybe even jeopardizing the success of your business in the future. Want to learn more about augmented reality and how it’s changing the commercial real estate industry? Check out a few of our success stories.

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JBG Smith
Smart City Works
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