Top 10 uses of digital twins in the real estate industry
Exploring how real estate professionals benefit from digital twins
As new technologies emerge, the way we approach property development, management, and transactions is changing. From architects to real estate agents, city planners to environmental scientists, the use of digital twins is revolutionizing the way professionals in the real estate industry work.
We will explore the top 10 uses of digital twins in the real estate industry, and how this cutting-edge technology benefits the professionals in the field.
What are digital twins in real estate?
A digital twin is a digital replica of a physical asset, such as a building or a whole neighborhood, that can be used to simulate and analyze its performance and behavior. This technology can be used by a variety of professionals.
Which professional sectors benefit from Digital Twins?
Architecture
Architects can leverage digital twins as a powerful tool to visualize and simulate their projects. They can gain the ability to display them in three dimensions, allowing a better understanding of the design and an accurate visualization of the outcome. Additionally, they can experiment with different configurations, spot potential problems early on, highlight specific features, and refine their designs in almost real-time.
Digital twins also enable architects to collaborate more effectively with clients, engineers and contractors, and to secure approvals and support for their projects.
City and urban planning
Digital twins can provide significant benefits for city and urban planners by giving them a comprehensive, data-driven representation of an urban area. Highly detailed and accurate visualizations enable more informed decisions, the early identification of potential issues, a better understanding of urban dynamics, and reduced appeals.
Digital twins facilitate collaboration among stakeholders, including architects, contractors, engineers, developers, governments officials and the community. They insure that everyone is on the same page, reducing the risk of misunderstanding and miscommunication, increasing transparency and reducing confusion, which also leads to improved engagement and support from the public.
Engineering
Digital twins provide a detailed and accurate representation of the building and its surroundings, which allows engineers to simulate the impact of various design choices, identify potential structural issues, and discover opportunities for improvements and further expansion.
Engineers can also analyze the impact of weather conditions, such as snow and rain, on a building’s exterior and roof. This information allows them to test and optimize designs before construction begins, which leads to cost savings and improved safety. Finally, digital twins encourage collaboration between engineers and other stakeholders, ensuring that the construction of the project is aligned with the intended design.
Environmental science
By using digital twins, environmental scientists can simulate how the building interacts with its surrounding environment, such as the effects of shading and wind patterns, or verify the footprint of the project with regards to protected areas. With these insights, improvements can be identified, and data-driven decisions can be made, helping to reduce the environmental impact of the building.
Additionally, digital twins help research the impact of existing buildings on the environment and create detailed documentation that can be used for future reference and planning. This documentation can help in ensuring that future real estate developments are designed and built with minimal impact to the environment.
Real estate development
Digital twins provide real estate developers with an accurate and comprehensive 360° visualization of the project, including its surroundings, which helps them make better-informed decisions regarding the development of the project and investment. They can identify potential issues, streamline approvals and permitting, and perform adjustments before construction begins, which leads to cost savings and reduced project timelines.
Additionally, digital twins can be used to effectively communicate project plans with stakeholders by enabling real-time access to project data and improving transparency. All stakeholders have access to the same set of information, allowing them to make informed decisions, collaborate more effectively, and build trust and support.
Real estate marketing
Digital twins allow real estate agencies to benefit from an immersive and interactive way to present properties to potential clients. By presenting 3D environmental models, clients can obtain a detailed 360° view of the asset before physically visiting it, leading to a better understanding of the property, saving time and money.
Real estate agents can use the detailed 3D model to evaluate the design, layout, and environment of a property in an interactive way and identify its features, amenities, and unique characteristics. This enables them to assess the potential value of a property more accurately, and provide better services to their clients, such as accurate pricing estimates and highlighting unique features that may appeal to potential buyers or renters.
Real estate law
Digital twins can prove to be a valuable asset for real estate lawyers, as they provide them with an accurate and up-to-date representation of physical properties. They can be leveraged to resolve disputes, streamline legal proceedings, create insurance policies and speed-up workflows.
The 3D models can easily be shared with all parties involved in a legal transaction, improving communication, collaboration, and transparency, while reducing the risk of misunderstandings. Finally, digital twins can be used to create virtual walkthroughs of buildings and neighborhoods, providing all parties with a realistic perspective of new construction projects.
Municipalities, governments
Using digital twins, municipalities and governments can analyze the current city landscape, and visualize the impact of potential projects. Government officials gain a better understanding of the impact of new developments on the city’s infrastructure, transportation, and other urban systems. This information can be used to enhance space utilization, identify potential issues, and make more informed decisions when designing and situating new buildings.
In real estate development projects, communication and collaboration between government agencies and stakeholders, such as community groups and industry partners, are critical to ensuring project success. By providing a shared, up-to-date platform, all parties can access and analyze the same data and information. The establishment of trust and credibility among stakeholders and the public can mitigate potential legal challenges and opposition to development projects.
Cultural heritage
Cultural heritage aims at preserving and restoring of historic assets, including historical buildings. Digital twins can be used to create accurate, detailed, and up-to-date virtual models of historical buildings and landscapes, helping professionals to analyze and document them for historical records.
Digital twins can also assist in creating simulations of how the buildings may have looked in their original form, providing historical context and aiding in educational efforts, and ultimately increasing public appreciation and awareness about historical structures.
Digitizing real estate with Nomoko
With our 3D services, we deliver accurate and detailed representations of properties, neighborhoods, and cities to any real estate professionals. Our 3D drone technology creates highly detailed 3D models of entire cities, which can assist in the planning and design of urban spaces and transportation networks. These models also serve as a record of historical buildings and landmarks for preservation purposes. By offering comprehensive 3D modeling services, we are contributing to the future of real estate, providing tools and information that support informed decision-making and innovative solutions for a range of applications.
Want to know how our services can help your business?
Originally published at https://nomoko.world on February 20, 2023.
