What is PropTech ?

What is PropTech ?

James Dearsley is well known as one of the leading thought leaders on the future of the real estate market. As the Co-Founder of Unissu and the global leader of PropTech data, information and resources, he has an un-excelled view on global PropTech trends that makes him a popular speaker on the future of the property industry both in terms of how people and companies in the sector should adapt to facilitate change. Where-else, Andrew Baum is Professor of Practice at Saïd Business School, University of Oxford, where he leads the Future of Real Estate Initiative,  a four-year industry-supported research programme focused on the 2025-2030 impact of innovation and technology on the global real estate industry.

In 2017, both of them, James and Andrew Baum collaborated to carve out the following definition of PropTech :

PropTech is one small part of a wider digital transformation in the property industry.  It considers both the technological and mentality change of the real estate industry, and it’s consumers to our attitudes, movements and transactions involving both buildings and cities.

https://medium.com/@vincentlecamus/proptech-what-is-it-and-how-to-address-the-new-wave-of-real-estate-startups-ae9bb52fb128

While others defined it as below:

PropTech (Property Technology) is the use of information technology (IT) to help individuals and companies research, buy, sell and manage real estate.

https://whatis.techtarget.com/definition/PropTech-property-tech

What PropTech Meant for People and Companies – technological and mentality change?

We have experienced and will see more disruptive forces in how we live, communicate, work, play, and most of all, the way of communication. This means, everyone have to adapt to new trends like:

  1. To do selling, checking on properties availability, people need to have the ability to access information remotely and instantly. Both people and companies can search, obtain, compare and respond to enquiries on 24/7/365 basis, without having to be in the office physically or making a phone call personally.   Direct communication on a highly performed mobile app is the key.
  2. To attract prospective buyers, companies have to spend more time and money in building an online presence, otherwise, they will be left behind.  The next thing in line is to build conversion goals, funnels and events, tracking online ads and split testing the landing pages and sales pages to discover more ways to increase conversion, those action plans are the key to success in terms of sales growth.

For sure that by spending time and money for more (business) visibility on mobile apps and social media will create branding opportunity and selling success.

ProSales, our highly performed mobile app digitize from the point of sales prospecting to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving.  Contact us today for a Free Demo.

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