• BBP Course Dates
  • Learning Hub Sign-in
  • 0Shopping Cart
Hillbreak
  • LinkedIn
  • Twitter
  • Home
  • About Us
    • Why Work With Us?
    • Our Mission & Values
    • Meet the Team
      • Miles Keeping
      • Jon Lovell
      • Timia Berthomé
      • Sophie Carruth
      • Craig Clark
      • Peonica Fernando
      • Heidi Kruitwagen
      • Alastair Mant
      • Caroline McGill
      • Jessica Moore
      • Lynn O’Halloran
      • Niall O’Shea
      • Sophie Overington
      • Amie Shuttleworth
      • Lisa Starr
      • Matthew Tippett
    • Industry Affiliations
  • What We Do
    • CONSULTANCY
      • ESG Consultancy
      • Strategic Foresight
      • Research & Advocacy
    • TRAINING
      • ESG Training
      • Real Estate Education
      • APC Success
      • BBP Training
  • Insights
  • News
  • Podcast
  • Contact Us
  • Menu Menu

iot ARCHIVE

Tag Archive for: iot

The Age of #PropTech Dawns!

June 13, 2017/in Insights/by John Ratcliffe

Contrary to ‘populist’ opinion, ‘globalisation’ has not stopped. Digital convergence, oblivious of boundaries, has moved it ascendantly to the clouds. Vast streams of information and data constantly wash around our communication systems connecting everything, everywhere to everyone. This onslaught of the ‘Internet of Things’ is transforming the very way we live, work and play. So much so, that ‘connectivity’ has become the 4th utility, just as vital for subsistence, productivity and pleasure as water, gas and electricity. Ahead – perhaps even already – artificial intelligence, digital disruption and cyber systems will reorder the world.

Such hyperbole has become almost hackneyed over the past few years, especially in the fields of finance and banking where ‘FinTech’ is now familiar lexicon. The new buzzword around the realm of real estate, however, is ‘PropTech’, and though some aficionados in the spheres of property technology and innovation are showing some signs of PropTech fatigue, it is becoming clear that the next few years will witness some of the most thrilling and radical transformations and transitions that the real estate industry has ever seen. Truly, it is the Dawn of PropTech.

What is PropTech?

Whether it is in finance, banking, health, tourism, travel, energy, transportation, or even education and leisure, the prime reasons for using technology platforms are to speed things up, make them cheaper and the process more efficient. Despite some emergent signs in the early 2000’s, when the residential property market started to recognise the potential of technology to deliver ubiquity, transparency and efficiency to sales and lettings search in the sector, the real estate industry has seemed relatively slow to innovate and adapt.

Beneath the surface, however, significant change has progressively been taking place, and the complex, multi-various, competitive and high-value world of real estate is swiftly emerging from its outmoded and maladroit slumber as one of the hottest and fiercest fields for innovation, investment and entrepreneurship. Thus the term ‘PropTech’ is now sweeping around the media, innovation and real estate circles, spawning a multitude of new proficiencies and specialist start-ups concerned with inventing, adapting, refining and enhancing the range of services provided by the property industry in finding, funding, buying, selling, renting, sharing, building, occupying, heating and managing residential and commercial property.

The Driving Forces

Alongside speed, cost and efficiency, some of the major drivers and manifestations of change caused by technology on commercial real estate can be summarised as follows:

  • Smarter, and more holistic, tools are increasingly available; simplifying, synchronising and streamlining various stages of enquiry, selection, negotiation, completion and occupation throughout the property disposition and delivery processes.
  • The self-service culture permeating so many business sectors is impacting more and more upon the real estate industry. First, with residential, and more recently, commercial.
  • There is a changing dynamic in the nature of work and the needs of the workplace. Flexibility, adaptability and connectivity are the modern maxims in terms of location, layout and leasing. Wellbeing at work a developing watchword. And the pursuit of common standards, shared data sources and transactional transparency is quickening.
  • Blockchain, as “a platform for truth and trust”, could be set to revolutionise the world economy. An immutable, distributed database of digital assets, it is already transforming the financial services industry, and seems certain to impact on the commercial real estate business. It will: verify data swiftly and efficiently between collaborating parties; accelerate and authenticate workflow throughout real estate transactions; and, generally add value to all concerned through a seamless centralised system.
  • The power of artificial intelligence (AI), together with virtual and augmented reality (VR & AR), already familiar in the design and construction processes, is now spreading to sales, lettings and management functions across the real estate sectors. Cutting-edge and compatible user-interface  (UI) technology, in the form of apps and chatbots, is speeding-up enquiry and decision-making procedures. And, AI will assimilate ‘players’, preferences and performance to predict demand and supply, as well as pricing, probability and priorities.

What Next?

Apart from a hope and expectation that people will stop talking and writing about the ‘Uberization’ of the workplace, and a welcome inevitability that the very term ‘PropTech’ itself will start to disappear from the professional lexicon as technology oriented property usage becomes the norm, there are a number of issues and trends worthy of mention. Here are our top 10:

  1. First, and perhaps foremost, the promotion and implementation of ‘sustainable development’ in all its forms across the built environment will be fostered and furthered (e.g. location, transport, design, funding, energy, materials, space efficiency, and the like).
  2. Locational choice will be broadened, and split operations facilitated, with prospective occupiers able to site much, or even all, of their business operations in fringe central city areas or smaller towns.
  3. Adopting flexible work solutions such as co-working, live-and-work and serviced spaces, occupiers can adjust size, tenure and situation to meet their specific business development needs and generally use their property assets more efficiently.
  4. Smarter energy systems regarding both use and storage will give building owners and occupiers greater and greater control over costs and contingency.
  5. Advanced management frameworks and platforms will assist landlords in two ways: locally, by providing feedback from both the building services dashboard systems, as well as the more personalised tenants experience about the working environment (e.g. WeWork); and, universally, by reference to common platforms providing comparative evidence (e.g. Infabode).
  6. Whilst the world of work is succumbing to successive bouts of technological progress, corporations across the globe are having to compete in the ever-intensifying ‘war for talent’. Smarter spaces are also having to be made healthier, collegial and more convivial — humanised! Millennials, who will make up three-quarters of the workforce by 2025, constantly seek a more civilised as well as connected workplace. Again, however, the boundaries are blurred, for much of their desired cultural ambience has a technological source.
  7. The concept and practice of ‘crowdfunding’ for property investment and development has already commenced, initially in the residential sector (e.g. Property Partner), but there is likely to be massive growth across all sectors of the real estate industry over the next few years, especially in the commercial field (e.g. Transcendent Real Estate). The lending market, moreover, is already seeing the emergence of ‘frictionless’ mortgages, where digital technology has completely streamlined the process of house purchase through the use of online portals, easily accessible property data and electronic contracts.
  8. The title, role and function of “controllership” will burgeon. Not only will controllership be responsible for overseeing the integrity of an organisation’s financial processes, systems and delivery models; but, as a leading management consultancy avers: “increasingly world-class controllership functions will strategically leverage technology to improve the efficiency and effectiveness of operations, manage risk and control costs to help drive enterprise performance through value-added capabilities.” (Deloitte Tech Trends, 2016).
  9. Unquestionably, as the impact of technology on property expands and develops, so too will the need for appropriate legislation and regulation. Money laundering, fraud, market manipulation, burglary and invasion of privacy, with a direct link to PropTech, have all been witnessed over the past few years. Collaboration and transparency between all parties within the real estate milieu must surely be the keywords for a sensible and secure framework to be devised and governed.
  10. The debate will continue to rage over whether AI is going to create or destroy jobs for humans!

The next few years will almost certainly witness a storm of start-ups, a deluge of data and digitisation, torrents of technological innovation, a maelstrom of mergers and a positive plethora of platforms. Above all, most assuredly, ‘agility’ will be the hallmark of successful property professionals over the period, combined with a mindset of collective endeavour and mutual enterprise. PropTech is, at heart, a collaborative community, and a new connected age has dawned for all.


Jon Lovell, co-founder of Hillbreak, will be moderating a panel at the ULI UK Tech Conference on 20 June, exploring the impacts of the tech revolution on the urban realm and ways in which cities, property organisations and government can harness the potential benefits.  

https://www.hillbreak.com/wp-content/uploads/2017/06/board-453758_1280.jpg 577 850 John Ratcliffe https://www.hillbreak.com/wp-content/uploads/2021/02/hillbreak-green.png John Ratcliffe2017-06-13 12:13:072017-06-13 12:13:07The Age of #PropTech Dawns!
Circuit Board

Smart buildings: How IoT technology aims to add value for real estate companies

April 21, 2016/in Insights/by Jon Lovell

We’ve recently been working with the Deloitte Centre for Financial Services on this new piece of research to show how technology – and specifically the Internet of Things – can have a role in shifting the value paradigm for commercial real estate.

Published today by Deloitte University Press, the report articulates how information-based applications have the potential to add new ways for the commercial real estate sector to create value for customers, differentiate from competitors, and to find new sources of revenue.

It shows how IoT can help to improve building performance and support portfolio risk management and liquidity by focus on employee and occupant health and productivity, enabling service innovation to tenants, and delivering sustainability benefits to wider urban systems.

http://dupress.com/…/internet-of-things-iot-commercial-re…/…

https://www.hillbreak.com/wp-content/uploads/2016/04/circuit-board.jpg 533 800 Jon Lovell https://www.hillbreak.com/wp-content/uploads/2021/02/hillbreak-green.png Jon Lovell2016-04-21 11:02:062016-05-06 11:22:56Smart buildings: How IoT technology aims to add value for real estate companies

Keep up to date with Hillbreak

To stay up to date with our news, insights, announcements and events, sign up for our newsletter.

We maintain separate mailing lists.

Hillbreak
APC Success

Latest News

  • Job Listing Deisgn Content LeadNOW FILLED Job Vacancy – Design and Content LeadJanuary 11, 2023
  • Bbp Elective Modules PrBetter Buildings Partnership Expands ESG Training Course with Launch of New Elective ModulesNovember 17, 2022
  • Esg Learning AssistantNOW FILLED Job vacancy – ESG Learning AssistantSeptember 30, 2022
  • Sophie Carruth Alastair Mant Sophie Overington Join HillbreakHillbreak strengthens team with trio of new associatesSeptember 7, 2022
  • Bbp Esg PathwaysBBP launches ESG Training Course for Real Estate AdvisorsMay 18, 2022

Latest Insights

  • Talkin’ ’bout a revolution: greenwash in the firing lineSeptember 7, 2021
  • FloodIPCC 6AR Report: Our AnalysisAugust 10, 2021
  • Empty BusPost-COVID Futures (Real Estate)September 1, 2020
  • The FutureIMPACT FINANCE SERIES: Part IV – The FutureJune 2, 2020
  • The AssetsIMPACT FINANCE SERIES: Part III – The AssetsMay 31, 2020

Press Enquiries

Jon Lovell | Managing Director

jon@hillbreak.com
@lovell_jon
+44 (0)7825 531031

ENQUIRIES


Hillbreak Ltd

enquiries@hillbreak.com

Privacy Policy
Website Terms of Use
Anti-Bribery Statement
Modern Slavery Statement
Complaints Handling Procedure Learning Hub Terms of Use

Menu

  • Home
  • About Us
  • What We Do
  • APC Success
  • Training Diary
  • Insights
  • News
  • Contact Us

What We Do

  • APC Training
  • BBP Training
  • ESG Training
  • ESG Consultancy
  • Real Estate Education
  • Strategic Foresight
  • Research & Advocacy

RICS - Royal Institute of Chartered Surveyors logo

UK Green Building Council Member logo

This website is hosted Green - checked by thegreenwebfoundation.org

Scroll to top

This site uses cookies. You can choose whether or not to accept them here. View settings for specific details about the cookies we use.

Accept all CookiesNo ThanksSettings

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visit to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Other cookies

The following cookies are also needed - You can choose if you want to allow them:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Statement
Accept settingsHide notification only