While estate agents increasingly adopt new technologies, the humble ‘for sale’ sign has remained constant.
Or it did, until now. US property company Compass has unveiled its smart sign – a digital display that provides an interactive experience for potential buyers.
The innovation was revealed at Inman Connect real estate conference in San Francisco, by Compass’ chief creative officer, Matt Spangler.
How does it work and what does it do?
The sign is designed to be both customisable and interactive. Agents can control the sign’s display from their smartphone, which displays the agent’s name, email and telephone number. The light display surrounding the screen can also be tailored.
When prospective buyers or interested parties with the Compass app draw within 20 feet of the sign, beacon technology will send a notification to their smart phone. From there, the potential client will be taken to the listing page in the Compass app.
For those without the app, they’ll be able to walk up and scan the QR code, which will take them to the online listing.
In future, Compass hopes to expand its signs capabilities to include virtual reality, where 3D projections of the house will be available, as well as providing the option for the potential buyer to ‘change’ the look of the property to suit their needs and taste.
How accessible is this technology?
The cost to purchase the new signs is around $1,000 each, which includes an advertising campaign with navigation app Waze. Waze will display the signs as pinpoints on its maps, which will also offer listing information.
The signs come with a rechargeable battery, which will last for approximately 25 days at 200 animations per day.
Compass launched in 2012, and acquired $450m in funding from Softbank last year – a large proportion of which has been spent acquiring rival estate agency companies in the US. The company is currently keeping the amount spent on research and the prototype under wraps.
The Compass smart sign is primarily designed for US markets and is available to preorder from 30 July 2018.