Internet of Things (IoT) solutions such as access controls, device management and safety and security measures all have complicated capabilities and limitations of various integration platforms, devices and protocols that are within the real estate industry.
Many real estate professionals seeking to implement IoT solutions do not share a common understanding of these capabilities and limitations which has previously had a negative impact on the adoption of new business capabilities and processes due to longer time-to-market, increased complexity and additional associated risks. Since IoT solutions represent significant potential value and savings for real estate, multi-family and other property types, buyers need to educate themselves prior to generating a thoughtful IoT strategy for their business.
The RETA IoT Workgroup recently created a framework to assist in the evaluation of IoT solutions, particularly those targeting major real estate technology use cases. These deliverables define common requirements, capabilities and limitations of various categories of IoT systems, ensuring that buyers will have the information they need to evaluate potential solutions and select the best option to suit their needs.
These published materials include:
A self-assessment checklist and vendor questionnaire to use while evaluating different IoT solutions
Several key considerations that property owners and managers need to include in their IoT strategy
Documented use cases which indicate how specific IoT systems may benefit the multi-unit industry
RETA IoT Workgroup Chairs
|Sean Miller, President|
|Felicite Moorman, Co-founder & CEO|
|Tom Spahn, Vice President|
RETA IoT Workgroup Deliverables
|This recording is an overview of the launch of the RETA IoT Workgroup which occurred on September 23, 2019. Over 30 companies who are RETA members have put in a tremendous amount of work to better clarify and address these technology needs in the real estate industry.||Workgroup Chairs Sean Miller (PointCentral), Felicite Moorman (STRATIS IOT) and Tom Spahn (Camber Creek) came together in this educational session to discuss their views on certain IoT topics as well as address what information is incorporated in the workgroup’s white paper.|