A digital revolution expert believes the rapid growth of the Internet of Things will change the way that people buy and sell property in the near future.
Speaking to hundreds of real estate agents at REB’s REinnovate event, a tech-enriched conference that took place at The Star in Sydney on the 5 April, Steve Sammartino declared that “science fact is outpacing science fiction”, especially in people’s homes.
Mr Sammartino explained that “the best technology happens in the home before it happens in the company”.
Soon most products will be attached to radio frequency identifiers that will allow houses to know and communicate with the items they contain, he said.
“The Internet of Things is going to change everything – smart homes, smart things, smart people,” he said, adding that “the self-drive car is already here”.
In light of these developments, Mr Sammartino encouraged agents to think about the future of marketing property.
“Are you going to be the first real estate agent to show the property prices of the suburb on the screen in their car while they’re cruising through?”
He also explained that on the back of these technological developments, people are rapidly becoming “pro-sumers”.
“We’ve entered the age of the pro-sumer,” he said. “Half producer, half consumer.”
He explained: “Have you ever let your customer do some of the copywriting for the house? Have you ever thought of that? What about taking the photos?
“What about people doing valuations for you? What about people doing door-knocking for you? What about young people doing marketing and entrepreneurship degrees, getting involved?”
Mr Sammartino said technology is “not just a little piece on the side”.
“It affects the entire thing,” he said.
[Related: Agents urged to join industry revolution]