Technology is on a consistent move forward as it continues to automate services and manual work across various industries. One such industry which is observing this change will be that of property agencies.
These agencies have recently been implementing mobile applications to be used by property agents.
Technology together with big data analysis has allowed agents to serve their clients more efficiently. Some of these include significantly shortening the time needed for agents to do back end work for retrieving a log of transaction history of a property.
Examples would include ERA Realty Network incorporating a new element to their application, iERA, which will allow agents to better identify and narrow down on potential property sellers.
These sellers can include owners of HDB Build-to-Order projects and executive condominium owners, who are nearing their minimum occupation period (MOP) or who have hit their temporary occupation period.
This new feature will provide a more focused list of targeted groups of property sellers who will contribute to more business growth and opportunities. This is done using data classified by the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB).
This mobile application is only used within the organisation by agents. They will also be able to create lists of previous profitable transactions by using filtration features on the application which narrows searches down according to date of transaction, district, types of development and the minimum profit percentage.
Marketing costs are also reduced with ERA agents being able to target advertisements towards specific sellers via Facebook marketing or direct mail.
Other property agencies have incorporated technology in their ways such as for a free and automatic website generator for their potential buyers.
These websites provide a range of important information such as the amount of capital outlay, the affordability of property and the best purchase that they can make based on the amount of cash and funds from their Central Provident Fund (CPF) that they have.
A related industry which also employs technology into its services and processes will be public housing. We previously reported that the HDB has come up with initiatives surrounding it.
Some of these include:
- HDB Integrated Building Information System(IBIS) – The core of the SICS, this central digital database serves as a collaborative workspace. Using 3-dimensional modelling of HDB projects as a common platform, industry partners in the entire construction supply chain can log in real-time information and progress updates on the project from their dispersed locations. This streamlines information and speeds up data-sharing amongst the different partners, including architects, contractors, pre-casters and construction material suppliers, enabling them to better keep track of budgets and timelines.
- Smart Tracking System– Supporting the IBIS, the smart tracking system will virtually manage the logistics of construction inventory as they move from various suppliers to the construction site. Smart sensors with geo-tagging capabilities will be attached to building components to help contractors manage the flow of construction materials into the work site, and swiftly identify and correct lapses such as wrong deliveries. This will minimise disruptions to the construction process and enable it to progress smoothly.
- Smart Crane System– This will automate the manual hoisting process of building components on-site. Through smart sensors embedded in the precast components and a network of sensors placed around the construction site, the Smart Crane System will be able to calculate and determine the quickest and safest hoisting path to mitigate potential collisions and swaying, thereby reducing construction time and improving safety.
