The adaptation of proptech and digital technologies among various industries has accelerated through Covid-19. The property and real estate industries are no exception. In fact, a survey of 1148 Australian businesses on roymorgan.com shows that 60% of businesses and 74% of property service businesses showed signs of struggle through the COVID-19 pandemic, be it financially, managerially or holistically.

As you know, the world has now well and truly changed. However, it’s time to adapt, or you could face losing market share to your competitors. This is the reason a lot of property developers and real estate managers have turned to proptech.

What is Proptech?

Proptech is a commonly used phrase in the real estate industry and describes property-specific technology. It has become essential across the Australian real estate market as not only has it helped streamline a lot of outdated processes, but it is helping businesses save time and money.

Proptech Helps Businesses Save Time and Money

Platforms such as PiPr who streamline house and land stock management via cloud computing, save property developers and real estate agents substantial time and money. In doing this, they eliminate the need for lengthy spreadsheets and remove costly steps to the sales process. This allows business owners to cut cost on staff and focus on what they are best at, running their business.

The possibilities for business growth in the real estate industry are endless with Proptech. From machine learning to virtual and augmented reality to 3D house touring, the future of the real estate industry is looking bright. Therefore, it’s no wonder investors are jumping at the chance to invest in proptech!

Contactless Services

Social distancing is the new norm, and COVID-19 will continue to affect the real estate industry in many ways. You need to have a way to manage your business digitally to meet your client’s expectations. This is one of the main reasons proptech saw rapid growth during the pandemic and why it will continue to grow in the future.

Your clients and customers want to be kept safe and have grown accustomed to doing business digitally. Long gone is the time of pointless face to face meetings. Personally, I would opt for a business that makes life as easy as possible for me. Proptech is doing just that in the real estate industry, and it is up to you to take advantage.