The Growing Role Of Drones In The Real Estate Industry

The global drone market is expected to be worth over $43 billion in 2024, growing at a Compound Annual Growth Rate of 20.5 percent, according to a report by Research and Markets. This makes it one of the fastest-growing technologies of the 21st century, with the potential to impact multiple industries. One industry that has a lot to gain from drones is real estate. As drone technology advances, different players in the real estate industry are finding clever ways to use drones in their day to day business operations. 

Drone use during construction 

Property developers have a lot to gain by having an eye in the sky, particularly when working on big projects. For one, they can use drones to track the progress of their projects to ensure that everything is going according to plan, minimizing the need for costly reworks. Drones can also be used to monitor supply inventory on project sites. So that contractors can manage the delivery of construction materials more efficiently and prevent theft. After construction works are done, property developers can fly the drone one last time. Ensuring that everything looks perfect before the handover. 

Real estate marketing 

Drones are emerging as the ultimate marketing tool for realtors. Especially in the modern age of the internet and social media. With drones, realtors are making amazing advertisement videos that capture property and neighborhood details from angles that would have required a helicopter in the past. All without the need for hiring expensive camera crew. However, since recording real estate adverts mostly involved flying in public areas, realtors must ensure that they have the drone licenses and permits that are required under the applicable laws in their location to avoid getting into trouble. 

Conducting property inspections 

One of the key responsibilities that property owners and managers have is maintaining properties in tip-top condition. To do this, they need to conduct periodic inspections to identify issues and repair them in their early stages. Drone developments have made property inspections easier, faster, and cheaper, especially for buildings with hard-to-reach areas. For instance, when inspecting the exterior of a skyscraper. A property manager can fly a drone with high-quality cameras instead of risking someone’s safety by having them hanging dangerously on ropes hundreds of feet from the ground. 

Since drones became available to consumers, the real estate industry has changed drastically. And it will continue to do so as the technology keeps advancing. It is up to different players in the industry to find ways to use the unique features of drones to better their processes and soar above the competition.

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