The real estate industry stands on the brink of a technological transformation that will fundamentally change how properties are evaluated and presented, according to one industry expert.
“We’re now seeing a transition…there’s a technology shift that everyone is aware of, and we’re now just trying to figure out how this applies in the real estate market,” says Shon Wedde, Head of Partnerships at Land ID, pointing to emerging technologies like LiDAR as game-changers for property analysis.
According to Wedde, traditional photography and video are being supplemented by more sophisticated forms of digital data capture. “LiDAR is not a picture…you’ve got a point cloud out there with all this great data in it that’s very granular,” he explains, describing how new technology can provide unprecedented detail about property characteristics.
This shift enables precise measurement and analysis of property features that were previously difficult to quantify:
The impact of these new technologies extends far beyond simple property visualization. Wedde suggests that digital data capture will enable entirely new ways of analyzing and experiencing properties.
“The ability to go to your computer or your phone and interact with that property in an immersive experience, absolutely, that is going to happen,” Wedde says. “It’s just a matter of cost and timing.”
While Wedde remains skeptical about some proposed applications (“It’s not likely that we’re going to be putting on VR or AR headsets and walking around in our house…probably not in the next 10 years”), he sees immediate practical applications for the technology.
Land ID is already working with partners to integrate these new capabilities into practical solutions. The company recently announced a partnership with media services provider Listo to combine mapping capabilities with advanced property visualization tools.
“We want to be able to work with Listo and other media services companies who have made a decision to invest in this technology, and then look at how that applies over top of a map,” Wedde explains.
Looking ahead, Wedde sees the technology enabling new forms of property monitoring and analysis. “Maybe you’re going to fly that drone over every day and track every change that happens and then analyze that later after your project,” he suggests, pointing to potential applications in development and property management.
The company is focusing on making these advanced capabilities accessible to real estate professionals while continuing to enhance its core mapping platform. “We made a focused effort on building out a partner program,” Wedde notes, describing how Land ID is working to create an ecosystem of complementary solutions.
As these technologies become more affordable and accessible, Wedde believes they will fundamentally change how properties are evaluated, marketed, and sold in the real estate industry.
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