What is gamification?
Gamification, defined as the mechanical application of video gaming outside of the usual gaming sphere, is a topic which has become increasingly spoken about, especially within the realms of the real estate sector.
Mixing the concept of gaming with real life not only allows for a more interactive experience, but it also means that the end user is more likely to engage and retain information learnt through the process (an increase of 10 per cent according to the University of Colorado). Coupled with other benefits such as being able to interact with buildings and land plots from a distance and using virtual reality (VR) to experience properties that have yet to be built, it’s clear that the prowess of this trend is benefiting and enhancing the real estate as we know it.
How gamification and property can work together
Having defined what the concept of gamification is, how exactly is the property sector going about implementing it and ensuring they are making the most of the plethora of technology available to them?
In a world where tech-savvy millennials are expected to make up 75 per cent of the global workforce by 2025 (according to the US Bureau of Labour Statistics), technology has become an intrinsic part of our day-to-day lives. This omnipresent force has meant that each and every part of the real estate sector has had to adapt from traditional ways of working. Looking at the specifics of the gamification trend, it is clear that advances in things such as VR, augmented reality and data analytics are allowing us to push boundaries whilst streamlining processes and bringing down costs whether they be relating to construction or on a more corporate level.
Global real estate companies across the board are using gamification to engage with their own teams and also clients for the means of realising key strategic goals whilst harnessing existing technology and increasing profitability. Savills itself has already invested in a number of platforms related to gamification – the most significant to date being VU.CITY, a digital modelling platform which optimises development and planning applications. The investment arm is looking to further this as technology becomes an undeniable force in driving forward the future of the sector.
What's next for gamification?
Can we expect gamification to develop further? In a word, yes, however the challenge will be ensuring that it remains relevant and allows the real estate sector to retain the ever-important element of humanity for which it is so well known.