The Internet of Things – The next revolution in the real estate industryLeitura de min
As in all areas of life and in business, the digital revolution is transforming the global real estate markets. The industry is increasingly investing in the use of new technologies to facilitate the sale or leasing and the management of properties.
To win business, serve clients successfully and manage our own operations effectively, JLL is investing heavily in technology, data and information management capabilities,” says Poliana Brandão, Technology Manager for Latin America.
According to her, the digitization of data, workflows and business applications will allow JLL to optimize business functions, gain a new understanding of processes and improve the way of conducting business. The firm is also preparing to incorporate the capabilities of the Internet of Things into property transaction and management practices.
Two innovations adopted by JLL in the U.S. in 2015 will be launched in Brazil in 2017. One of them is the RED data platform.
This platform will have an impact on the productivity of corporate real estate management. It will bring a revolutionary business view, as it reveals client-specific real estate data from multiple dimensions, opening the way to superior strategy development, optimized decision-making and efficient real estate operations,” says Poliana.
According to her, the RED platform assimilates real estate data and integrates it with business and market data through a platform that plugs directly into a client’s existing system. It offers clients a full range of tools to uncover areas for improved productivity, with customizable dashboards and detailed analytical models.
The second innovation to arrive soon to Brazil is Corrigo, a pioneer in cloud-based facility management solutions acquired by JLL late in 2015. Through its comprehensive suite of software and mobile apps, the platform automates virtually the entire maintenance management process.
Corrigo allows the easy management of engineering services in general and to take greater control of maintenance and spending on repairs while gaining better understanding of vendor performance. The platform has a strong network of over 1 million users managing more than 10 million work orders per year across more than 180,000 sites,” says Poliana.
Originally developed for facility management clients, the Corrigo platform will be adapted to serve Retail and Property Management clients as well.
In this interview to Panorama, Poliana Brandão discusses the trends and changes that technology evolution has brought to the real estate industry and its benefits to the business and to clients.
What are the technology trends in the real estate market?
The Internet of Things (IoT) is the technology that will gain the most strength in the coming years, bringing more innovation. IoT refers to networks of Internet-enabled devices or systems that communicate and share data with other smart devices. It is a simple concept with complex implications for the real estate industry. IoT turns buildings into ‘smart’ buildings by creating centralized networks that integrate building systems so they can share data and operate more efficiently. This transforms the way buildings respond to the real-time needs of occupants.
How technology can facilitate the real estate industry operations and how it can benefit clients?
Through technology, we seek to optimize our ability to connect clients with opportunities and to connect our own people with their colleagues around the world, and we seek also to improve our ability to serve clients. Technology helps us continue to grow our business through cross-selling, knowledge sharing and improved productivity. To do both, we have committed to develop a technology platform that no competitor can duplicate. These new technologies add value and more visibility to properties, making them more attractive. They turn them into smart buildings, with their operations driven and managed by the Internet of Things.
How does JLL stand as regards IoT?
JLL is focused on developing smart building solutions that take an integrated approach to incorporate multiple technologies, systems and strategies to deliver the greatest return on client investments. Our custom solutions help improve workplaces, enhance the employee experience and ultimately increase employee productivity, engagement and satisfaction. We have a real-world case in our firm. As we planned the renovation of our corporate headquarters in Chicago, a survey revealed that employees were mobile 30 percent of the time. But when seat-sensor data showed that they actually spent nearly half their days away from their desks, we factored that information into our layout plans.
How can IoT benefit clients?
IoT allows facility management to integrate all building systems and connect them to the Internet to create operating efficiencies, reduce energy consumption, improve the occupant experience in safety, meet sustainability targets and actually optimize financial performance. When you consider the various [systems,] pieces of equipment and devices found in a building, the list is overwhelming: air conditioning, lighting, security, elevators, parking garage, utility meters, vending machines, energy management, water management, landscape and garden irrigation, digital and voice and data signaling are the major categories. IoT for properties is really the next generation technology to improve and facilitate high-performance service delivery, to be more sustainable and efficient in energy and water use and in the management of facilities. This technology can surely make occupants feel happier and safer and, ultimately, make companies more profitable.
How does this technology change the way things are done today?
It means a new way of thinking about the real estate industry by adding a technology network that integrates formerly separate assets and tracks their operations and data. It allows for [consistent] analysis and control of business processes (integration with other systems, such as ERP) without much human intervention.
Could you give us some examples of IoT uses in the real estate industry? Is IoT already in use in Brazil?
In Brazil, North America and Europe, we are already using drones to inspect building sites. In properties under management in North America in Europe, we are making buildings smarter by using sensors to collect data and improve the efficiency of operations. We’ve also developed systems for virtual real estate tours using Oculus Rift and HTC Vive. As for Brazil, we are working to have these innovations available here by 2017.