Drones for Real Estate Appraisals
Drones for Real Estate Appraisals
By Erik Till
2017 saw a considerable increase in the use of drones for commercial purposes, and that momentum is only expected to continue.
According to Statista, the total commercial drone revenue is expected to reach roughly 13 billion dollars by 2025! This huge revenue projection means one thing for certain: commercial opportunities will pop up in industries beyond the ones drones are currently servicing. One of the newer commercial applications gaining popularity? Real estate appraisals.
In fact, The National Association of Realtors cited drones as "the next great tool" for professional appraisers, thanks to the ease and efficiency UAVs bring to the appraisal process. The value of using drones for home appraisals is similar to the value drones bring to insurance inspections: UAVs provide a time-efficient, budget-friendly way to capture a birds-eye view of a given location, and the high-quality aerial imagery provides appraisers with a 360 degree view of the entire property in context.
Appraisers have already been leveraging many different applications for drones. DW Slater, a Real Estate Appraisal company, broke down the most popular use cases they've come across:
Commercial Appraisal Use: Many appraisers could see how a drone would provide a better inspection of larger commercial properties that might be difficult to view from the ground.
Large Acreage Tracts: Some appraisers believe that a drone could assist them in viewing large tracts of land such as 100 acres or more. The ability to fly over and get a closer view of the land is valuable.
Rural Properties: Some appraisers could see using a drone on rural properties that may be on large acreage with many other buildings or structures such as barns, workshops, guest houses, stables, ponds, etc. If you are appraising a farm with Brahma Bulls on the acreage, a drone would be a great way to safely inspect the land.
We're excited to see which new industries drones will permeate next. If you’re interested in pursuing DroneBase for your commercial or residential real estate appraisals and/or marketing efforts, contact us to get started!