We investigate all sorts of real estate technologies here in CRT Labs, and recently we were able to stop by the Chicago offices of DIRTT Environmental Solutions. DIRTT, an acronym meaning “Doing It Right This Time,” is a company that is trying to revolutionize how we solve interior environmental solutions. DIRTT’s sophisticated technology turns 2D architectural drawings into 3D models as well as AR/VR landscapes, allowing clients to really visualize themselves in their newly designed spaces.
Before we check out DIRTT’s technology (presented in a Facebook Live Office Hours tour of their Chicago space), let’s talk a bit about AR, VR, and what they bring to the real estate field. First, we need to define the terms and talk about how they are the same – and how they are different. Augmented Reality (AR) is a live view (usually through a phone) of the world around you with overlays of digital information. This can take many forms, from the playful way Pokémon Go uses the phone camera to allow you to “catch” Pokémon in the real world, or in a more serious way through digital information displayed about a location while you’re there. Think of the second example as a digital visual version of the old school museum tour headsets you might rent while you’re at an art gallery. In real estate, AR can be used to not only enhance interior and exterior design choices in the building and remodeling process, but offers a fresh way to display listing information while at the home itself. There are dozens of applications for augmented real estate-specific apps (as showcased late last year in the New York Times), with more popping up every day. Augmented reality apps could become vital to the real estate market, especially as computer rendering techniques begin to get more sophisticated and start to look more like “real” furniture. Virtual reality (VR), unlike its augmented counterpart, creates (and/or recreates) entire environments with completely digital techniques. It often requires specialized hardware, which has grown and changed over the past two decades. Recently, a company called Oculus has become the frontrunner in the space, most notably due to their acquisition by Facebook. VR’s main output has been in the video gaming sphere, but just like augmented reality, the possibilities for real estate are currently endless, especially in the design/construction fields. Having a hard time envisioning a space after a remodel? Strap on an Oculus Rift and immerse yourself in the redesign.
VR and AR are very similar – and can even work together, as seen in our Facebook Live at DIRTT. Using augmented reality’s focus on overlapping information over real world images, and VR’s creation of entire environments, DIRTT is rethinking how we look at the built environment. To learn more about how AR/VR blend together at DIRTT, check out our Facebook Live Office Hours below.
CRT Labs Office Hours: DIRTT from CRTLabs on Vimeo.
To find out more about companies making waves in real estate technology, like our Facebook page and stay tuned for more Facebook Live Office Hours. Is there a tech company you’d be interested in learning more about? Contact us and let us know about them – and we might even feature them on a future Facebook Live!
The smart home market is an ever-evolving field, and part of our job at CRT Labs is to keep pace with technology in order to get REALTORS® and consumers up-to-date information about what’s latest, what’s greatest – and even what might be outdated. Two of our resources, a Smart Home Glossary and Smart Home/IoT FAQ, serve as one-stop shops with quick information about smart products, how they work, and some buzzwords you might hear in the industry. I recently updated the glossary to reflect the changing smart home market, adding entries for sensors (which are becoming ubiquitous in the field) and voice assistants.
With that in mind, I wanted to reach out to everyone when it comes to updating our Smart Home/IoT FAQ. This will be updated over the coming weeks, but I wanted to extend the opportunity for everyone to ask their burning smart home questions – some might even be included in the FAQ! What questions do you, or your clients, have about smart homes, and how can CRT Labs answer them for you? Comment on this post, shoot us an email, or tweet us with any of your smart home questions. And for lots more smart home information, check out our Smart Home Simplified series, which breaks down the different types of smart home devices you’re likely to encounter in the wild and discusses the pros and cons of each. You can even print out the Simplified pamphlets to use as educational handouts in your own business!
What lies ahead in 2018? The team takes our best guesses for the future in our second annual year-in-tech predictions post. As expected, we think blockchain is going to be the hot technology trend of 2018, but we also take a look at smart home tech, smart city (and smart farming) initiatives, and more.
In 2018, we’re going to see more things bought in online marketplaces than offline at retail establishments. More people will be ordering takeout on Grubhub than will be dining in at their favorite restaurants, and other traditional retail establishments will really need to start thinking about their online presence. We’ve been staring this shift in the face for a while, but with Amazon buying up Whole Foods, I think we’re about to see the scales tip in favor on online buying. What does this mean for real estate? I think big purchases are safe for now – nothing can replace the one-on-one service a REALTOR® gives to their clients – but I do expect there to be some larger attempts at “disruption” in that space, whether it be through an uptick in using Bitcoin to pay for a house, or apps connecting buyers and sellers, or something completely new (and no, not robots…I hope).
After the first few city-wide implementations of sensors to monitor weather, air quality and traffic (such as the Array of Things in Chicago), we may see similar implementations in various other cities. This may not have immediate impact on public transportation, awareness or health this year, but data collection and analysis may prove to be useful to build on services for the coming years. The housing market may have a steady growth, with more millennials now looking to buy homes, although in some larger cities, renting may prove to be more cost effective. In 2018, there will be a wider implementation of smart home devices as they get more popular, with voice assistants becoming almost human-like in responses, but not necessarily in understanding various dynamics and social constructs in language. More items in the household may have a “smart” feature, such as furniture, doors and appliances such as refrigerators and washers. With an increase in such devices, there will be a need for interoperability, and we may see a development of a standard protocol for most common smart home devices, so they can exchange data between each other. With the increase in devices connected to the internet, encryption and privacy will yet again be a concern. There may be a wide-scale attack on popular IoT devices, leading to a leak in personal lifestyle information, which can be more crucial than just a social security number. We may also see a series of small scale attacks with companies rushing to address bugs. Cryptocurrency can be completely overturned in 2018, with governments cracking down on mining operations and increasing amount of legislations in place to control it. The bitcoin bubble may finally burst, but it may lead to increased awareness of the technology itself. Blockchain applications can see a wider implementation, however, this largely depends on the understanding of the fundamentals of blockchain by individuals and corporations.
Renewables will continue to heat up as it was recently announced that it is now cheaper to produce energy using solar, wind, hydrothermal and geothermal than fossil fuels. This return to using nature for us to thrive will manifest itself in another way as well. We will see a large growth of biophilic architecture (plants incorporated into building design) as well as urban agriculture. Companies, like Plenty, are receiving large rounds of funding and cities are starting to wise up to the benefits of locally produced food. From more community gardens to the use of hydroculture for indoor growing year round, cities will begin investing this and seeing it as a crucial part of their smart city missions. This will also mean the boon of microfarmers as part of the gig economy. They will be key in this movement.
I believe 2018 will be another breakout year for blockchain and digital currencies. More enterprises will enter the pilot stage as others move into production. The number of active blockchain related projects went from 26,000 in 2016 to over 86,000 in 2017*. We should start seeing more of these projects reach maturity. Specifically, in real estate, we will see escrow and title companies leveraging blockchain to help improve the real estate transfer process. *From analysis of public code repositories on Github, an annual report by Deloitte.
I have two predictions for 2018.
2017 was the year net neutrality was repealed; 2018 will be the year in which we feel the effects. And sadly, we’ll feel them sooner than a lot of people think. Some internet service providers have pledged not to throttle or block sites, and not to set up fast lanes. Those pledges will prove to be meaningless, especially as more consumers become cable TV cord cutters. Paid prioritization of web content will be how ISPs try to reclaim the money they’re losing, and it’s going to get very ugly very fast.
Unrelated: Twitter co-founder and CEO Jack Dorsey will leave his perch by the end of Q2.
2017 was a great year for CRT Labs and especially for the projects we’ve been cultivating. From meeting thousands of REALTORS® at various conferences, to publishing our first book, to winning awards, CRT Labs really was on a roll this year, and I’ve been really excited to write this wrap-up and see everything collected together.
We hit up a lot of conferences and other speaking events this year, including visiting dozens of associations, reaching out to REALTORS® all over the country and showing off our hardware and software projects. We continued our sponsorship of TechEdge, a series of one-day conferences designed to keep REALTORS® up-to-date with exciting technology trends in the real estate industry. We managed to speak at every TechEdge in 2017, talking about smart home trends, smart city initiatives, and the impact of blockchain on real estate.
Speaking of blockchain, Dave dove into the blockchain arena head first this year, and has been leading the way investigating the technology’s impact on the real estate industry. This impact goes beyond just simply using Bitcoin for transactions, and has potential to service multiple areas in the real estate world. Dave has been working on a prototype application of blockchain for associations which would help consolidate and streamline member information. Chris has also been hard at work on our Rosetta Home software, which has been showcased (and won a grant!) for its public data visualization. To go along with Rosetta Home, Akram has been finalizing our Touchstone indoor environmental quality sensor, and we had a small production run of boards in December and have begun testing them here in the labs. Together, these projects will work together to monitor and control the environment inside your home, and will make a great closing gift to give to clients.
Joe and Adrienne focused a lot on education this year, starting with the Smart Home Simplified series. These easy-to-read pamphlets tell you everything you need to know about a variety of smart home products. To supplement the Smart Home Simplified series, we also created display information for any association who is looking to set up smart home demo stations and needs placards and other information displayed for their members during demos. Chad and Adrienne will be speaking about these demo stations, along with Abby Creitz of NAR’s Information Services, at the Association Executives Institute in Charlotte in March 2018. Adrienne and Akram teamed up with the Library here at NAR to create a video display system using Raspberry Pi, and Dave and Adrienne helped the Library set up an iPad kiosk for members visiting the Library and Archives.
We also published our first book! A Pocket Guide to Cleaner Air: Plants for Commercial Spaces debuted in the summer and is the first in a series of small-scale books about indoor air quality and ways you can make the air you breathe cleaner and healthier. Adrienne wrote the book, along with Abby Creitz from Information Services, and Donna McCormick and Debbie Dell-Mayer in Information Technology. Joe designed the book, including one of the coolest book covers ever (in this writer’s completely biased opinion).
Chad, our fearless leader, was up front advocating for the team all year, speaking to everyone he could about all the great stuff happening inside the labs. He also had the wacky (at the time) idea to create a Plant Globe to display at the NAR Annual Convention in November. Chad also did a great deal of research into smart city and smart community issues, and is currently starting a project to revitalize his hometown in Iowa by helping turn their nearly-vacant shopping mall into a makerspace.
The Plant Globe installed at the Commercial Pavilion at the NAR Annual Convention in 2017 in Chicago.
It was a great year at CRT Labs, and 2018 is already shaping up the same way. We hope to see you at a conference, or to join us on a Facebook Live in the future. To get up to the minute details of the projects we’re working on, follow us on Facebook or Twitter.