What is Proptech and how PiPr is redefining the Industry
Abbreviated from “property technology”, Proptech is revolutionising how property is bought and sold. Additionally, assisting in the process of planning, construction and management of stock. Innovative technology that is designed to positively transform the property and real estate industry is considered to be a part of the booming Proptech industry; with investments forecasted to reach over $20 billion in 2020.
The Growth of the Proptech Industry
Over 265 Proptech companies operate in Australia, with 54% of business occurring B2B. The property and real estate industry was not originally utilising new technology, sparking the initial creation of the Proptech industry. The advancement of the industry in the UK and US provide an insight into what Proptech in Australia could quickly grow into. Since 2013, there has been an increase of 428% in Proptech companies. This clearly demonstrates the evolution and increased demand from businesses and consumers.
Efficiency is the Key to Success
These innovative companies are focusing on improving traditionally outdated systems that cause inefficient and unwanted results. Multiple Excel spreadsheets, inaccurate reports, and neglected communication were causing an ineffective exchange between business and customer. This is where the demand for Proptech software first began. The overarching goal was to create and maintain fast and seamless transactions, overhauling old processes.
These new systems are making significant changes in the industry; due to two key aspects, automation and task efficiency. These range from cloud computing to artificial intelligence, two of the many fields included in this expansive industry. With higher accuracy and less time required for simple but originally time-consuming tasks, there is major potential for Proptech software users to largely scale their business. Additionally, novice businesses who implement and correctly utilise efficient systems from the beginning, are able to leverage off a solid process foundation. Not to mention the ability to remove the need to fix problems occurring from ineffective systems, ultimately fast-tracking their success.
Conversely, businesses currently using more traditional processes may miss out on the scalable opportunities that companies in Proptech can provide. This is due to the potentially significant cost and time required to implement a new system. Although understandable, these businesses may find that providing consumers with inadequately standardised experiences could negatively affect them overtime. This is mostly due to rapidly evolving market expectations.
Why PiPr is your new best friend
PiPr was born on the premise of a previous and successful software that produced over $7 billion worth of transaction; with businesses quadrupling their sales within 12 months. This software was expensive to firstly build and then maintain; highlighting a major gap in the market for a more affordable but similarly detailed software for all builder developers to access.
‘Built for the builder’, this cloud-based software is truly unique, assisting builders, agents, and eventually the home buyer. PiPr allows the builder-developer to easily manage and control stock, work seamlessly with agents and create high-quality marketing material. All with a pricing plan to suit your business and only make a payment when you produce a sale. Whereas some Proptech software will limit your options or require payment before you have successfully used it to the fullest capacity.
PiPr’s future vision is to be the go-to online site for homebuyers to purchase new house and land packages straight from the builder. This allows any new house and land builder-developers to leverage off PiPr, reducing cost, increasing sales and exceeding customer expectations.
Click here to see how PiPr can help you.
Meet the Author – Rich Evans
Rich Evans is the CEO and Founder of PIPR – an Australia first Proptech software platform providing builder developers the opportunity to scale their business. Having been a pioneer of this technology in the early 2000’s, PiPr has helped businesses produce over $7b in property sales.
Rich has vast technical experience in the development of new technology-based business models. Not to mention, he is a published author, keynote speaker and consultant across a range of subjects. His expertise sees him regularly interviewed across a range of media and a constant guest on panels and podcasts relating to all manner of technology and property development.
A serial entrepreneur, Rich is a founder of businesses in a range of industries where he can use his expertise and drive to disrupt the way things are traditionally done and achieve better outcomes for business.