How is proptech disrupting and reshaping real estate?

There are just under two weeks to go until the Real Estate Innovation Festival in Sydney, which is shaping up to be the biggest gathering of tech decision makers from across the real estate spectrum here in Australia. In fact, this is the event the Australian proptech market has long needed, a place where all players in the ecosystem technology providers, buyers, investors and intermediaries can come together to learn and do business.

Why now?

Real estate is considered the largest and most important asset class in the world, but it is known for its resistance to change and is still in the early stages of technology adoption, especially compared to other industries. However, a combination of global megatrends driven by demographic preferences and buying behaviors present myriad opportunities for real estate and proptech companies to facilitate change for the better.

How are progressive real estate companies using proptech today?

Proptech can be operated by all kinds of cross-industry parties, be they developers, investors, landowners or tenants. It can help them better manage their assets by simplifying the wide range of processes involved in real estate. It can be as simple as reducing paperwork for property management or streamlining transactions. In fact, proptech is already having a major impact in the industry due to the many problems it solves for customers. Proptech intersects with many other related sectors, from fintech (financial transactions, loans, mortgages, etc.); smart real estate (emerging technologies and systems that make it possible to manage smart homes, buildings and cities); and even contech (technology that changes the way buildings are designed and manufactured).

Post COVID, an ESG-centric world

Broadening the spectrum encourages even more companies and start-ups to find different pain points and gaps in the market. Co-working has become the new buzzword shaking up office space, co-living is doing the same in residential real estate, and crowdfunding is reshaping the construction industry and real estate investment processes. . And we can’t forget commitments to net zero and the need to create and manage buildings that are good for the environment and their occupants.

What can proptech do for you?

The reasons for adopting proptech will be different for different parties, but the outcome will always be the same: saving time, money and the planet. For brokers, it can be easier to collect data and market the data to simplify the process of investing, renting, buying and selling; or perhaps automating paperwork and streamlining back-office systems, leaving more time for direct customer contact, market research and deal-making; or, especially in a post-COVID world, promoting digital engagement and reducing physical contact while keeping processes running smoothly. For property investors, proptech offers many promising features, for example, enhanced and data-driven search that will better illuminate development, rental, purchase, sale and investment opportunities.

That being said, it is important to note that proptech, although a growing sector, is still relatively new and will evolve as new needs and audiences continue to surface.

Where can you get all the proptech knowledge you need?

With the growing impact of technology on real estate, there are more and more new technologies and companies that you need to be aware of. That’s why hundreds of leading real estate companies from across Australia are taking part in the Real Estate Innovation Festival in Sydney on November 9-10. The Real Estate Innovation Festival has so much to offer executives like you. From the myriad of cutting-edge technologies on the show floor to the ideas showcased in the seminar rooms, this year’s event is not to be missed.

Interested in participating? Visit the event website at realestateinnovationsummit.com/expo/ for more details.

John Pozoglou is the founder and CEO of FuturePlace.


Source link

Comments are closed.