Real estate is the second largest industry for drone use, after aerial photography, which is easy to understand when looking at the attractive aerial photos and videos used by many real estate agents today. Drones are technically known as UAVs “Unmanned Aerial Vehicles” or when referring to the drone and ground control unit, an “Unmanned Aircraft System” (UAS). UAVs today are very affordable, easy to operate, and highly manoeuvrable. Although a pilot’s license was once required for the use of commercial drones, the FAA now allows operation with a remote pilot certificate (FAA Section 107 regulations).
How and why drones benefit the real estate industry
Differentiating property listings by offering high-quality aerial photography and video is a hot topic for real estate agents today. Statistics show that aerial imaged homes sell 68 percent faster than homes marketed with standard photography. Here are 9 ways real estate agents and brokers are benefiting from drones:
1. Drone photography offers dramatic and captivating images.
The use of modern drone technology allows real estate professionals to create exceptional shots with ease. The use of GPS programmed flight paths combined with automatic camera aiming at points of interest results in professional and attractive views.
2. Drones can take attractive virtual tours.
A camera drone can fly around a home or office building and travel through each room, creating a detailed virtual tour that stationary photography cannot capture. Today’s video editing software makes it easy for agents to create a professional voiceover soundtrack, giving the potential buyer a rich and compelling visual story.
3. Drone photography can show enhanced property features.
Aerial photography can capture landscape shots, outdoor seating areas, swimming pools, hot tubs, walking trails, nearby parks, local schools, and other interesting features potential buyers will want to see.
4. Drone photography is attractive to sellers and will generate new business for the real estate agent.
Using drone photography and video to market properties is a great selling point for prospective sellers, who want their property to be presented in the best possible light.
5. Drones give real estate agents a competitive advantage.
Real estate listings with drone-produced images and videos outperform listings that only offer traditional photos, resulting in higher sales for the agent.
6. Drones are a cost-effective alternative.
Drones are cheap to buy and use. Or real estate agents can profitably outsource aerial photography to professional drone operators.
7. Drones offer a high-level impact for luxury homes.
Drone photography can highlight an oceanfront view, highlight a beautiful garden, expansive grounds, unique pools, or water features. Drone aerial photography is capable of capturing the elegance of a high-end property in a way that no other photography method can.
8. Drones offer advantages for commercial real estate and property development.
Drones are used to plan high-rise apartments and other multi-unit residential projects. They are used to survey, appraise, and market the property to potential buyers, and for aerial overviews of the land to be developed and surrounding neighborhoods.
9. Drones help with roof and home inspections.
A drone allows inspectors to identify roofing and other issues in ways a ladder never would. Beyond offering a safer inspection solution, they can easily identify issues related to raised shingles, bent flashing, or chimneys.
Current FAA Regulations
All drones weighing more than half a pound (0.55 pounds) must be registered with the FAA. The cost of registering drones is only $5, but the penalty for using an unregistered drone can be as much as $25,000 per UAV. Current FAA guidelines include:
• No drones may be flown within 5 miles of an airport or terminal.
• Written permission is required from each person before drones can fly over or photograph them.
• Commercial drones are limited to an altitude of 400 feet.
• Drone pilots must remain in the line of sight of the drone they are operating at all times.
• All operators must obtain an FAA drone/UAV operator’s license.
Risk protection for real estate agents
While the risk of damage and injury is very low when it comes to drone photography, there are some risks involved. All drone operators must have commercial drone insurance. Most drone operators should consider accident and liability insurance. Many real estate companies require a minimum liability limit of $1 million for third party operators. There are several types of coverage applicable to drones, including:
• Civil liability insurance for drones
• Hull insurance (damage to the actual drone)
• Drone payload insurance
• Ground equipment insurance
Drone liability insurance protects the operator and the company from third party claims or property damage. Some policies may extend your insurance coverage to protection against financial loss associated with negligence and invasion of privacy. All real estate agents using drones should review their coverage to ensure they are protected when using this growing technology.