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New tech product set to shake property industry

16 August 2016 Tim Neary

A technological disruption player has introduced a cutting-edge property inspection service that could change the way PMs and agencies interact with their clients. 

Inspect Anytime launched the innovative virtual reality experience which uses high-resolution 360° camera technology.

Inspect Anytime’s Wade Short said the new product gives people the opportunity to view a property in its entirety.

“The property is shot floor-to-ceiling, back-to-front, meaning they see exactly what interests them, whether it’s the living room, the backyard or any other room they choose to inspect, including the neighbour’s front yard,” Mr Short said.

“Renters will no longer be restricted by limited 15-minute inspections as they can access the property anytime, anywhere and from any device they choose to use.”

Mr Short said the new service could change the way property managers conduct business.

“Property managers looking after investment properties most likely will consolidate into a role that is more maintenance-related rather than leasing properties, which makes sense particularly with residential real estate when the 20-somethings begrudgingly open properties on weekends for all of 15 minutes, simply handing out an application at the door that could be downloaded in a PDF,” he said.

Real estate agencies could also benefit from its use, by saving money through employing fewer agents.

“There will be a shift in the industry, [and] the poor performers and personal assistants will disappear. The property professionals will complete more transactions as they will deal with people when they are interested rather than trying to entice interest from the masses,” Mr Short said.

He added that with prospective tenants or buyers being able to view a property at their leisure, real estate agents will need to consider how they can value add to the experience.

“That will be the challenge going forward.”

[Related: New digital disruptor takes on PM sector]

New tech product set to shake property industry
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