Building IoT is a specific embodiment of industrial IoT under the influence of the Internet of Things. It takes buildings as the main body, and through the use of a building IoT platform, enables information interaction between buildings and components, between people and objects, and between objects, so as to achieve precise management, low carbon and energy saving while improving people's quality of life.
The principle of building IoT is to build an 'Internet of Things' covering tens of thousands of buildings worldwide, using RFID, wireless data communication and other technologies on the basis of the computer Internet. In this network, buildings (items) can 'communicate' with each other. Its essence is to use radio frequency identification (RFID) technology to realize automatic identification of items and interconnection and sharing of information through the computer Internet.
The biggest impact of building IoT on the real estate industry is: reducing the marginal cost of the entire development process for development enterprises. This includes land costs, construction costs, and capital costs for market research and planning, land acquisition, planning and design, procurement, project construction, sales, and property management.

    Through IoT, it can also bring significant changes to the management methods of all parties:

First, the government side. Currently, various competent departments have their own information management systems, and these systems have not achieved good integration and connection. Through IoT, multi-department information management on the same platform will be realized, achieving full-process information management from bidding, auction, and listing to comprehensive inspection and delivery, greatly reducing the communication time between development enterprises and the government, and improving development efficiency.

Second, the enterprise side. Current development enterprises need to allocate resources in various aspects such as development, marketing, design, engineering management, and property management. Through IoT, it helps development enterprises free themselves from heavy engineering management and allocate more resources to market research, product R&D, capital allocation, production organization and other fields, making industry division of labor clearer, and also enabling development enterprises to achieve visual real-time control of the entire construction process.

Third, post-operation management. Current post-operation managers often pass the buck when encountering problems, resulting in low efficiency in solving problems. Through the IoT platform, it is possible to understand the truthfulness of property company responses, distinguish responsibilities, and improve the efficiency of problem solving.

In addition, IoT has brought significant changes to other aspects of the construction industry. For example, traditional supply chain procurement has become e-commerce procurement; phased settlement has become floor-by-floor settlement, convenient and fast for small amounts; development loans will become new financial products, reducing capital costs.