INTRODUCTION.
ICT in Real Estate refers to the devices, networking components, applications and systems that allow people and organizations to interact in the digital world through access, analysis, exchange and use data. Some of the ICT devices and applications include computers, networks, hardwares, softwares, satellite and so on. Valuation, Property Management and Estate Agency are some of the professions in built environment sector that requires application of ICT.

1. VALUATION.
Valuation may be defined as the professional assessment of the market value of an asset, property or land, taking several factors into account and maybe done for various purposes. Valuers often use ICT and its devices particularly in preparing valuations or market analysis reports. The following are some of the sections in the valuation process that involve use of ICT technology and devices.

Application of ICT technology during property inspections.

Property inspection is one of the steps of the valuation process and involves conducting a tour of the property being valued in order to bring out important features useful that aid to arrive at valuation values. Some of ICT tools that assist during property inspections are:

Video cameras and digital cameras-They aid to bring out an image of the property being valued and are usually attached to the final valuation report prepared.

Global Information Systems-Geographic Information System (GIS) is a computer based information system used to digitally represent and analyze the geographic features present on the Earth' surface and   the events (non-spatial attributes linked to the geography under study) that taking place on it. . In some cases the GIS may be defined by the type of data that the system is designed to handle. For example, the term "Land Information System" or "LIS" is often applied to a type of GIS used by counties, cities, and municipalities to manage land parcel information. Increasingly, the GIS is being used in several countries to inform real estate related decision making and to design development strategies at different levels of operation.

Application of ICT in preparing valuation reports.

The preparation of valuation reports is an important step that requires valuers to use ICT to come up with quality reports. Some of the ICT tools that assist during preparation of valuation reports are:

Computers, touch screens, tablets (Input devices)-These devices act as input devices whereby they assist valuers to key in information collected from the valuation process so that it may be in digital medium. Other input devices include; Scanners

Printers/ (Output devices)-They assist valuers to come up with hardcopy information in form of documents (that were initially in digital medium) and in this case the reports.

Flash disks/ magnetic disks/Hard disks-These are forms of external storage devices that assist to keep information via digital medium.

Application of ICT in document handling.

During the valuation process valuers often encounter a lot of documents thereby a challenge arises when it comes to handling them. ICT technology used to manage documents include;

Database Management Systems/ Electronic document handling system.

Creation of databases is one too that assists in handling documents especially in the digital medium. Information that is contained in databases is easy to manage, store and analyze thereby preventing the loss of documents through misplacements or damage. Information collected from valuation is kept and managed in databases.

System applications in preparation of valuation reports.

Operating system-Operating system is an application system that involves using windows thereby valuers use it to prepare valuation reports. An operating system is a software which form basic tasks like file management, memory management and controlling peripheral devices such as disk devices and printers by managing and processing information collected during valuation process.

Office productivity software-There has been an increase in office productivity software by valuers such as word processing, spreadsheets, email, power point document readers and web browsers which enable the process of preparing valuation reports easy and fast.

Internet-Use of the internet is an important ICT tool to valuers. They often engage in research in the event of looking for market comparables of properties to be valued. Research is carried out in property websites and journals posted via the internet.

2. PROPERTY MANAGEMENT.
It is the process that involves operation, control and maintenance of real and personal property. Consists of systems,   processes and   manpower required to manage life cycle of an acquired property. The following are some of the property management sections that ICT applies;

Application of ICT   in office paperwork.

Property Management involves keeping a lot of records concerning budget reports and other important records of the property. Some of the ICT tools useful in this are;

Computers/ printers-Computerization is key in preparing and completing office paper work whereby it assists in establishment of databases which help to manage records and documents. It is also important in preparing estate accounts and monitoring diary dates.

Application of ICT in property maintenance.

Property maintenance forms part of property management but separate in practice due to technical nature. Some of the ICT devices used in property maintenance are;

Computer   networks, database systems, digital photography-This form part of the technical elements needed to establish comprehensive management systems.


System applications in property management.

Building management system-It is a computer based control system   installed in buildings to control monitor the buildings mechanical, electrical equipment such as ventilation, lighting, power systems, fire and security systems. Its functions are;

To monitor building systems. It controls systems of lighting Heating Ventilation And Conditioning by bringing them to a computer schedule.

To enable temperature control BMS provides data on energy usage so that operators can pinpoint areas with problems and offer solutions.

To provide for safety incase of fire BMS is fixed with smoke evacuation systems which are vital for ones safety since the system identifies originality of smoke and controls movement so as not to reach exit areas

IOT Sensors ( Internet of things).

Is a network of interconnected devices such as occupancy sensors, room temperature monitors and consumer devices such as refrigerators. It supports real time monitoring of units and properties. They assist property managers through the property data provided from applications screen to oversee units and check occupancy and vacancy statuses without going to see for themselves.

Application f ICT in marketing.

Marketing of property is done to create awareness/ advertise the property which is about to be let in order to get a potential tenant. ICT technology applicable in this process are;

Use of digital television-This is a form of media that involves mass advertising. Property managers would often use it to advertise the properties to be let out.

3.    ESTATE AGENCY.
It is an activity/ profession of selling and renting out buildings and land for clients. ICT technology and devices have been applicable in estate agency which include;

Agency software-This is a software applicable in estate agency that provides databases structures for storing details about properties, companies, agents, applicants, clients, tenants and landlords. Its functions include the creation of requirement files, diary of events, mailing lists and storage of comparables.

Property websites-This is a technology that applies in estate agency where properties to be sold/ rented out area advertised. This allows potential customers/ tenants to search online and undertake virtual tour of properties.

BENEFITS THAT ACCRUE TO REAL ESTATE FIRMS THAT HAVE ADOPTED ICT

Staff relationship improved.

Communication is important in a real estate firm to ensure activities are done correctly hence ICT devices such as mobile phones have easened the communication between staff thereby improving relationship.

Sustain competitive advantage.

ICT has boosted productivity in real estate firms by enabling processes to be completed at a faster rate and at a cost effective price. It has also led to high quality of services bringing the firm at an advantage to the customers more than others

Better management of data.

ICT has benefitted real estate firms by bringing some of the best practices in managing data so that it may be useful when it comes to management of data.

Less time wasted.

ICT technology has led to reduction in time of doing office work especially in the different fields of real estate. This has led to increased production of services and at a high quality thereby attracting potential customers.

Projects are of high quality.

Real Estate involves large projects with massive funding therefore use of ICT technology has enabled projects to be of high quality at a cost effective price.

Conclusion

ICT systems are central to all sectors of the economy. IT is becoming a driving force necessitating change in the way real estate companies market to their clients. If a Real Estate company refuses to accept IT in its activities, it won’t be able to compete with others and therefore will loose clients and fail. The benefits lead to a successful, profitable business with satisfied clients and motivated staff.