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As published in PlaceTech on 12 April 2022

Tom Willcock, Director of Innovation at Hollis, joins PlaceTech editor Paul Unger for a quick-fire walkthrough of some of the biggest trends in real estate innovation.

In this episode of the PlaceTech Podcast, Willcock discusses potential game-changers and the impact they will have on the industry.

Key takeaways:

  • Visualisations – 3D models of buildings and 360 tours – were accepted out of necessity during Covid, but the benefits have proven to be immense: from making investment decisions from the other side of the world to quickly solving unexpected issues in the underwriting process.
  • Building information management (BIM) is the “ideal place” to store data about buildings as codes and regulations tighten. Uptake of the technology has been limited, but that could soon change.
  • Not only is 5G faster, its latency is low enough to open up the potential for augmented reality and much more comprehensive IoT in buildings. Meanwhile, 6G is likely less than a decade away. What changes will that bring?
  • We’re on the cusp of drones that can operate “beyond the line of sight”, which could be revolutionary for understanding, monitoring and inspecting buildings. Soon, we could see drones interacting with the built environment as well.
  • Be careful adopting technology. Don’t spend an “awful lot” of money putting in solutions that could become very quickly redundant. Be curious and ensure you’re asking what problems you’re solving before committing to anything.