You might have heard that 5G has come to Australia, but have you considered how it can help you sell a home? Understanding a bit more about 5G features can help you work out its potential in the real estate industry.
5G technology explained
Just as 4G replaced 3G, improvements have come along that will see our phones get faster, more reliable and more powerful. Both 5G and 4G will exist simultaneously but it’s expected that 4G will be phased out at some time in the future.
With 5G, real estate agents will be more mobile than ever before.
When you compare 5G versus 4G, these are the three key improvements:
- Improved speed: 5G companies in Australia say that, depending on your device and location, you'll receive between 100Mbps and 20Gpbs download speed. Even at the lower end, it's the same as the NBN at its peak.
- Improved latency: Latency refers to the time it takes for information to go from your phone to the cloud and back again. 5G should cut this from 60 milliseconds to 1 millisecond, a huge improvement that could see a technological boom in Australia.
- Improved connections: As smartphone usage increases, there's a higher demand on our networks and infrastructure. 5G has increased capabilities to cover these extra requests.
How 5G can be beneficial for real estate agents
More power in your hand, and in the hands of potential buyers will mean that you can offer better services and sell better features than ever before.
Virtual reality has long been talked about and we're slowly starting to see it creep into the mainstream. One of the biggest drawbacks has been the networks available, but with 5G's improved latency we will have a better foundation for VR.
Smart home technology
When you sell a home, you sell its potential. As 5G improves our communication possibilities, it also creates a better working environment for smart homes ‒ using Amazon Alexa or Google Home. By learning more about their capabilities (including playing music, controlling lights and locking doors) you can talk about a futuristic, security-focused home that's available right now.
The benefit of faster data itself shouldn't be overlooked. With secure technology, you'll be able to safely send contracts, transfer funds and share marketing material for properties more quickly than ever before.
It'll also be beneficial for people looking at your properties online. They'll be able to download higher-quality images and buffer videos more quickly, so you'll be able to present homes in a better light. It's been shown time and again that images and videos are great hooks for buyers, so investing in this kind of marketing will be more productive.
When will 5G roll out in Australia?
The amazing news is that the 5G rollout has already begun. Telstra is leading the way, with Optus expected to follow very shortly. Vodafone has announced that its customers will have to wait until 2020 before having 5G access.
To access 5G networks you'll need a phone with the right technology. At the moment you can get this through the Galaxy S10 (on Telstra), with others soon to be available from all major manufacturers. Apple's first 5G phone in Australia isn't expected to be available until 2020.
As well as improved connections for mobile phones, this technology will also be made available for homes. Optus is planning to roll out home (and office) wireless solutions that will be an upgrade on current NBN options.
Get ahead of the game
We at One Agency are excited about the prospects of 5G technology in Australia and we'll be keeping our members informed about how they’ll be more mobile than ever. To find out more about what we offer our members, message us using the form below.
About Paul Davies
As founder and CEO of the fastest growing real estate network across Australasia, I offer real estate professionals an opportunity to reap the financial rewards of going it alone with the security and clout of an established brand. Talk to me and my team about your options.
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