How Proptech is Revolutionising the Real Estate Sector
The global real estate industry is constantly being enhanced through the introduction of property technology, or proptech.
While technology has been utilized in many ways for years, over the past few years — and especially during the pandemic — adoption of digital transformation has increased rapidly. At a time when face-to-face contact was at best discouraged and at times outright banned in many areas of the world, industries everywhere were forced to adopt new ways of working that relied more on technology than in-person experience. The real estate industry is no exception. As the pandemic comes to an end, the newest challenge for real estate agents is in blending traditional service with new technologies.
As an entrepreneur in the property field, Ryan Mahoney of Dubai, UAE, maintains a close watch on all new developments in proptech that could change the way the real estate markets work forever.
Joining People with Technology
Research shows that around 85% of adults will research online before making any purchasing decisions. When it comes to buying property, which is often the most expensive purchase any individual will make, people are naturally going to want to perform extensive research. However, many consumers are also looking for the personal touch that comes with face-to-face service, and the knowledge and expertise of an individual with experience in the market.
Real estate agents who want to stand out from the crowd are therefore seeking new ways of combining people skills and experience with technologies that can streamline purchasing processes and drive new marketing and revenue opportunities.
You can see some of the leading proptech companies of 2022 in the infographic attachment to this post.
Implementing New Proptech
While new technologies have the potential to improve real estate services, there are further challenges within companies in terms of implementing these new technologies and all employees need to be trained and familiarized with the tech before it can be put into widespread use.
One approach is to designate a primary employee to take responsibility for any new system that is put in place. This way, all leads can be funneled through an expert without causing too much disruption to the business. Other employees can then be trained as back-up with that support in place.
The PDF attachment looks at some of the most disruptive proptech that is changing the real estate market in 2022.
