Why Use Drones for Real Estate and Property Management
In every aspect of the business, technology has opened new opportunities for enhancement. The real estate and property management fields have kept up-to-date and now that means embracing drone technology. Drone usage has opened up new profitable methods for attracting buyers and renters for the high-end market. In a 2017 broker report, homes with drone photography sold almost 70% faster.
Drones now provide stunning visual presentations of properties, mostly outside, but some, called Quadcopters are used inside. In addition, as the technology is somewhat new, savvy real estate and property management professionals who use it, put themselves at a great advantage and can attract more traffic to their properties.
So can drones increase your bottom line? Yes! There are, however, legal requirements, costs, and some factors to consider when using drones for your marketing.
Here are some of the positives and negatives of drone usage for your real estate and property management businesses.
The Legal Requirements for Using Drone Technology
In Canada, any drone being used for non-recreational purposes is called – An Unmanned Air Vehicle, or UAV. Transport Canada decides all the rules and regulations you require for flying commercial drones and the information can be found here: https://www.tc.gc.ca/eng/civilaviation/opssvs/flying-drone-safely-legally.html
If you are new to drone technology and want to use it for supporting your real estate, or property management business, consider hiring a Professional Drone Operator. This way, you can learn from their expertise. A professional drone video company in the Toronto area for real estate brokers and the Toronto Residential Property Management can cost about $1500 for four hours and over $2000 for an eight-hour day. Attempting to have your drone shots done by a non-professional, is a dangerous option that can cost you a large amount in fines and poor workmanship.
If you use a professional drone company, it gives you time to take all the required courses and buy your own equipment. If you want to buy your own drone, a full drone package can run from $3000 to $6000.
The Benefits of Drones for Toronto Residential Property Management
In a major city like Toronto, using drone technology can significantly enhance your bottom line. For anyone in the Toronto Residential Property Management business, your high-end rental offerings will garner more excitement and views. The aerial views that a drone can provide allow you to show off your property in full panorama. It can also be a money-saving tool for your buildings’ security, as well as its general wear and tear.
Positive Reasons for Your Using Drone Technology in Property Management
- It is a new and exciting way to showcase and monitor your property.
- Great way to show off the entire area, or community, point out the close-by amenities, point out how good a walk score the building has, and size of the entire property.
- Can help with viewing the security needs of your buildings and any potential problems around them.
- Can use the views from the drone to monitor the roofs of your managed properties.
- Some drones, many called Quadcopters can be used inside a large rental unit for eye-catching videos and photographs.
The Benefits for Real Estate Sales
In the current real estate market, any technology that can get you more traffic is great. Drone technology can certainly help achieve your goals for online views. It can also enhance your print material by including a panoramic shot of the estate taken by a drone.
Positive Reasons for Using Drones in Your Real Estate Marketing
- It is a new and exciting way to show off your property.
- The drone views can cause more people to look at your listing both locally and internationally.
- Clients from Europe have been seeing drone photography as early as 2005, so they would expect and appreciate seeing the Toronto and Canadian markets that way.
- It offers the buyer a view of not only the entire property but also the area around it.
- At the present time, not everyone is taking advantage of this technology, so if you are, you have the advantage.
- In a 2017 broker report, almost 75% of potential clients, will not list with anyone who does not offer drone technology in their listings.
- Drones are much cheaper than the helicopter, or airplane shoots. They are also much clearer than satellite views.
The Potential Drawbacks in Drone Usage
There are many positives to using drones, but there are also some negatives. We live in a time where privacy and security issues are very important to most people. Even before you do a drone event for your property, you need to notify the neighbors about what is going to happen. They usually really appreciate the notice, so they can make sure they are not outside when it is being done. Often, they will clean up their own properties, so they too look great if captured in a shot.
Another major issue is the amount of liability insurance you have as the real estate broker, or property management company. Drones have been known to crash out of the skies into people, other properties, live wires and more. You have to ensure you have insurance that covers UAVs. If you get a professional drone photographer, you must verify they are also insured. The recommended amount of insurance coverage for the real estate broker, or property management is $1,000,000.
It will definitely be to your marketing benefit to use drone technology. There is solid evidence that using drones will increase the profits of any real estate, or Toronto Residential Property Management professional.
Take the time to weigh the pros and cons of your business. Research what will work best for your needs and make sure you have all the insurance and information you require. Once you thoroughly investigate this technology for your marketing, you will be delighted and impressed by your bottom line, as well as satisfied clients and renters.