Analysis: The Impact of Machine Vision on the Real Estate Industry

This report explores the significant impact of machine vision technology on the real estate industry. It defines machine vision and its components, detailing its application in areas such as property valuation, sales, and monitoring of internal and external stakeholders. The report examines how machine vision can improve various aspects of the real estate business, including staffing, regulatory compliance, and ethical considerations. It also provides a brainstorming section, regulatory framework analysis, and a disruption analysis, highlighting the benefits and potential challenges of implementing machine vision. The report discusses the impact on decision-making processes, components affected by the change, and the overall transformation of the real estate industry through the use of machine vision, supported by figures and references.

Running head: IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
Impact of Machine Vision on the Real Estate Industry
Name of the Student
Name of the University
Author Note

1IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
Table of Contents
Part 1: Research...............................................................................................................................2
Part 2: Brainstorming.......................................................................................................................3
Part 3: Regulation and Ethics..........................................................................................................3
Part 4: Disruption.............................................................................................................................4
Description of the process...........................................................................................................5
Components would be affected by the change............................................................................6
Reference.........................................................................................................................................0

2IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
Part 1: Research
The main objective of this proposal is to identify the impact of using machine vision technology
on the real estate industry.
Machine Vision: It can be defined as the type of technology or ability of computer
systems to provide image-based analysis and inspection of different products and services. This
technology is increasingly used in different categories of industry such as the manufacturing
industry and the real estate industry. Robotic guidance along with the process control are the two
prime specifications of this technology (You et al., 2017). There are numerous critical
components of this technology such as the processing engine, sensors, and communication
facilities. Analog to digital conversions can be easily done by this technology, at the any time it
can also be said that this technology is very much helpful in the Digital Signal Processing (DSP).
The two prime aspects of this technology is the sensitivity and resolution. Sensitivity is the
ability of this technology to see objects in darkness or detect weak impulses at invisible
wavelengths, and Resolution can be defined as the ability of machine vision to differentiate
between objects.
Real Estate Industry: It can be defined as the type of industry which deals with renting,
selling and buying of property and natural resources such as minerals, water and crops. Both the
movable along with the immovable objects are considered in the real estate industry. Legal
jurisdictions as well as the government protocols are the prime features of this industry. Real
estate industry is mostly present in Asian countries such as Pakistan and India. Countries like
Wales, England, Northern Ireland, United States of America, New Zealand and Australia also

3IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
have significant amount of real estate industry (Syam & Sharma, 2018). The different categories
of real estate industry are apartments, multi-purpose houses, terraced houses, multiunit housing
complex, condominium, semi-detached dwellings, detached dwellings, and portable dwellings.
The total geographical area of the real estate industry are measured in terms of Square yards.
Dedicated sales and marketing teams are required in the real estate industry, at the same time, it
can also be said that the use of the emerging technologies such as the robotics technology,
artificial intelligence and machine vision is increasing in the real estate industry
Part 2: Brainstorming
Most of the monitoring activities of the internal stakeholders of this organization can be
enhanced using the advanced surveillance capabilities of machine vision technology. The use of
the machine vision helps the main stakeholders of the business to have an idea about the
performance of each of the stakeholders associated with the business.
The machine vision technology are increasingly used in the wide range of industries such
as the agricultural industry, research laboratories and the Information Technology industry.
The machine vision technology can be aligned with other technologies as well such as the
artificial intelligence as the combined effort of both of these technologies are very much useful
for the different types of industry to monitor the activities of the productions rooms.
Part 3: Regulation and Ethics
Staffing process of the real estate industry can be significantly improved using machine
vision technology. The four different factors which make this possible are listed as follows:

4IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
 Human efforts in the monitoring of the activities in the industry decrease with the use of
machine vision technology.
 The unethical practices of the employees of this industry can be identified using this
technology as well.
 The market reputation of other similar industries can also be understood using this
technology.
 Quality of the service required in this industry can be improved using this technology as
well.
Regulations of Lawrence Lessig
Regulations Explanation
Market The market position of this industry can be significantly enhanced using
this technology
Law The unethical practices of the consumers of this organization can be
identified using this technology as well.
Architecture Each of the components of this industry such as the electronic
components analysis and signature identification are enhanced using this
technology as well.
Norms Quality of Service (QoS) can be significantly improved in this industry
using machine vision technology.
Table 1: Framing of the identified factors with the regulation
(Source: Created by the author)
Part 4: Disruption
Staffing issues of the hospitality industry can be resolved using the machine vision
technology.

5IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
Categories of process Explanation
Events Monitoring of the events in the production rooms can be
monitored using the machine vision technology.
Activities The complexities of this industry can be resolved using this
technology as well.
Decision points The Consumer Decision Journey (CDJ) of any real estate industry
can be enhanced using this technology.
Actors The monitoring and evaluation of the workers of this industry can
be done using this technology.
Outcomes The net profitability of the real estate industry are increased due to
the use of the machine vision industry.
Table 2: Brief elucidation of the process
(Source: Created by the author)
Description of the process
There are lots of advantage as well as disadvantages associated with machine vision
technology which has to be understood by the top level management team of real-estate industry
so that the purpose of using this technology can be accomplished. All the electronic components
of the events of the real estate industry can be monitored using the machine vision technology
(Barkham, Bokhari & Saiz, 2018). The signature identification of the real estate industry can be
significantly impacted with the use of the machine vision technology as well. The different
objects of the real estate industry can also be significantly affected using this machine vision
technology. The quality of the services offered by this industry can be is hugely improved using
machine vision technology (Glaeser, Kincaid & Naik, 2018). Inspection of the materials used in
the real estate industry can be monitored and evaluated with this technology as well. Most of the
inspection procedure of all the activities of the real estate industry can be improved using the real
estate industry (Delgado Ramos, 2019). All the images which are collected by this technology
can be used for numerous strategic and business decisions in the real estate industry. Thus, it can

6IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
be said that the actors of the real estate industry can be very much improved due to the use of
machine vision technology.
Components would be affected by the change
Most of the major decision making activities of this real estate industry can also be
improved using the machine vision technology. Both the internal as well as the external
stakeholders of this industry cab be benefitted using this technology (Ramos, 2019). The
structural and the architectural difficulties and complexities of this industry can be very much
affected if machine vision technology is used in the working environment of this industry. The
relation between the units and common areas and concerns can be also affected using the
machine vision technology (Poursaeed, Matera & Belongie, 2018). The legal issues of this
industry in terms of the entry of the intruders in the private houses can be minimized with the
help of the image process capability of the machine vision technology. The specifications of the
buildings can also be managed in a professional manner using machine vision technology. It can
be said that the use of the machine vision technology can have huge impact in the business sales
of this industry as this technology can be successful used to understand and analyse the needs,
expectations and requirements of the consumers of this industry (Pitcher, 2017). Thus, it can be
said that the business process of this can be improved using machine vision technology.

7IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
Figure 1: Issues of real estate industry before using machine vision technology
(Source: Created by the author)
Figure 2: Issues addressed using machine vision technology
(Source: Created by the author)

Running head: IMPACT OF MACHINE VISION ON THE REAL ESTATE INDUSTRY
Reference
Barkham, R., Bokhari, S., & Saiz, A. (2018). Urban big data: city management and real estate
markets. GovLab Digest: New York, NY, USA.
Delgado Ramos, G. C. (2019). Real Estate Industry as an Urban Growth Machine: A Review of
the Political Economy and Political Ecology of Urban Space Production in Mexico City.
Sustainability, 11(7), 1980.
Glaeser, E. L., Kincaid, M. S., & Naik, N. (2018). Computer vision and real estate: Do looks
matter and do incentives determine looks (No. w25174). National Bureau of Economic Research.
Pitcher, P. P. M. (2017). Hit the deck: impacts of autonomous vehicle technology on parking and
commercial real estate (Doctoral dissertation, Massachusetts Institute of Technology).
Poursaeed, O., Matera, T., & Belongie, S. (2018). Vision-based real estate price estimation.
Machine Vision and Applications, 29(4), 667-676.
Ramos, G. C. D. (2019). Real Estate Industry as an Urban Growth Machine: A Review of the
Political Economy and Political Ecology of Urban Space Production in Mexico City.
Sustainability, 11(7), 1-24.
Syam, N., & Sharma, A. (2018). Waiting for a sales renaissance in the fourth industrial
revolution: Machine learning and artificial intelligence in sales research and practice. Industrial
Marketing Management, 69, 135-146.
You, Q., Pang, R., Cao, L., & Luo, J. (2017). Image-based appraisal of real estate properties.
IEEE Transactions on Multimedia, 19(12), 2751-2759.