Monthly Archives: April 2018

How will 5G affect the real estate industry?

5G is coming, and when it arrives life is going to be a little different; for everyone.

5G is the next major step which will advance the mobile and internet networks to a place we have never seen before. Our current 4G mobile capacity and networking speeds are somewhat limited, and the 5G network will have capabilities 1000 times what we have now. To put this into perspective, the maximum download speed on Australia’s somewhat dismal NBN network is 100Mbps. This means a file of 100 megabytes can currently be downloaded in a second, but these speeds are on a high tier payment price and limited to the area you live in. 5G is expected to make available a gigabyte per second, which is the size of a movie, downloadable in an instant. Although most services have adapted to streaming services to combat movie and TV show pirating, something is about to change again with 5G. We have already had a trial in Australia of 5G for the Gold Coast areas around the commonwealth games precincts, and it’s expected to be available commercially in just a year.

Why is it necessary?

The key reasoning for 5G is to advance current technologies to the next level and beyond. The most important technology at this stage that will rely solely on the stability and reliability of a super internet is automation in vehicles. Automated trucks are already in use in mining, automated cars are already being tested on our streets, but the problems with current network capabilities is they are not reliable or quick enough to cope with millions of cars driving by themselves. 5G will undoubtedly change this. 5G will offer improved GPS capabilities with instantaneous traffic and map updates globally, meaning you will know exactly to the second when you will arrive to a destination.

How will it affect the everyday person?

When it comes to the average Joe, there are many ways it will be innovative, and there will be many ways it will change the way we work, rest and play. Some of the most important innovations currently being tested is the way we use energy, and the capabilities 5G will have to automate personal household energy use. The Finnish government is currently testing ways to automate lights, security cameras, windows, refrigerators, door locks, heating systems, and other electrical household items to find ways to use them only when needed. Especially when it comes to apartment blocks and large hotels, it means that lighting could be sensor based, electronic door locks will be automated by Wi-Fi and energy savings will be massive.

How will it affect the residential real estate industry?

Technology that we already use in the real estate industry will all advance beyond current recognition. There is no doubt there is undiscovered tech that will produce itself, and this industry has a lot to look forward to. Virtual reality tours are widely being used in real estate, in the way of virtual tours, and in the future, virtual reality will consume massive bandwidth with the advances currently being tested in tech companies across the globe. Mobile phone technology will be incredibly fast and reliable, and it’s almost unfathomable how much change will come in even the next five years.

One of the biggest changes in real estate, will relate to the property itself. Aerials for the 5G network will be tiny in comparison to current mobile networks and will be able to be mounted onto homes rather than up high on large plots of land. This will mean your residential property could be used as aerial space.

5th generation mobile networks will advance smart home technology and real estate agents will need to know more about how these things work. Human-machine communication will advance beyond anything we have ever seen before, with the possibility of virtually anything you can imagine becoming automated.

Data will be able to be transported immediately, and when it comes to things like contracts, and funds for the sale of homes this will change the industry for good. Current smart contracts used on blockchain technology make smart contracts very quick, and this technology will soon be available to your smartphone. This could mean big changes in the industry, including quicker settlements and immediate money transfers.

There are many reasons why businesses are excited about 5G, and of course, one of those reasons is the cost. Connecting 5G to homes and businesses will be far less expensive than standard connections.

Time will tell what other types of innovative changes will take place in real estate, and innovative thinkers will definitely come out on top in the next ten years. The world is about to change, and there is no telling what will be discovered. It is certain however that it WILL generate new revenue, it WILL generate new growth in every sector, and it will accelerate innovation to a place that no one can imagine.

Property Investment Checklist

Property is one of the best possible investments you can make if you know what you are doing, and with the market as it is right now, it’s a great time to be spending money on investment properties. So how do you know if you’re in a financial position to invest in property?

To begin your investment property journey, you need to do a number of things:

  • You need to first work out how much combined debt you have, how much you will need to borrow and how much you can budget for your new investment property.
  • You should have around 20% of the property value ready as a deposit, plus at least 5% for stamp duty and legal costs as well as a bit of a buffer on top. It’s important to allow for at least $50,000 for future cash-flow in case things turn bad with your income.
  • Property investment entails some serious research time and a solid financial commitment, so you must be completely thorough in your research and even more so in your investment preparation.
  • You need to treat a property investment like a business. Buying a home is one thing, buying investment property needs to be bought like you would buy a business, with everything in place to make you profit on your investment.  
  • Make sure you have a quality team around you for advice. This should include mortgage broker or a banker, financial planner, property valuation expert, an accountant, and a builder.

 A lot of potential investors sit around and wait for the market to be right for their terms, however if you wait too long, the market can change that dramatically that you might miss out on some really good investments while you wait. Don’t wait for the market, if you are ready, you are ready.

Always be prepared for the unexpected. This means your backup cash should be safely tucked away, and it also means you should never expect interest rates to stay low. This is the biggest mistake you can make. Budget your property with a very high interest rate in mind, and you’ll almost always come out on top.

Always prepare for the worst-case scenario, and when things go smoothly you’ll get further in front than you imagined.

 

 

Should you be using YouTube as a real estate agent?

As with any other social media channel as a real estate agent, you should be utilising everything there is about YouTube. Actually, you should be using YouTube as the basis of your content for every other channel of social media you use. Real estate is a communication business, and the best way to communicate in 2018 is with engaging content. The world has changed severely in the last 10 years, and it is proven that video engages like no other content.

Having quality videos on your YouTube channel is of vital importance, and in this modern age there really isn’t much that can stop you from achieving great videos to share on Facebook, Instagram and twitter.

With affordability always being an issue in the past, it is now incredibly cheap to create amazing videos, and when it comes to real estate, the options are endless

For instance, you can purchase a high definition video drone for under $100, and when it comes to value for money – you simply cannot beat the visual appeal these types of videos can give to potential buyers.

High quality photos are also very simple to create in 2018, with the easy access to high quality cameras, and for a relatively cheap price. Using a camera like a GoPro is one of the cheapest and easiest ways to create high quality digital visual campaign material.

Once you have photos and video in your possession, there are so many amazing free programs available that can have professional looking videos uploaded to your YouTube in a matter of hours.

There truly is no better way to represent your great content for your social channels to get leads and sales than YouTube.

The best part about YouTube, is that once you have created your great content and uploaded it, you can then share to virtually any social channel almost immediately, and you can create paid campaigns using it as well.