7 quickfire proptech facts you need to know
You don’t need a business degree to understand proptech or take advantage of its many benefits for your real estate business.
Proptech – also known as real estate technology, CREtech, REtech or Proptology – is a broad term encompassing any technology that helps to make real estate more efficient. Want the lowdown for your next business meeting or networking event, or maybe you’re getting ready for the upcoming PropTech Summit 2019? Here are seven proptech facts you need to know.
Investment in proptech will reach $20 billion by 2020
Back in 2017, KPMG and Taronga Group’s technology investment arm, Real Tech Ventures, predicted investment capital into proptech will reach $20 billion by 2020. If the stats below are any indication of proptech as a booming industry, it looks like we’re well on track.
61% of proptech investment is in the Asia Pacific
Proptech in the Asia Pacific region currently consists of 179 startups. Between them, they have raised about $6.26 billion since 2013. That’s more than half the proptech investments worldwide!
There are three global proptech sectors
From blockchain to VR and even Alexa, the proptech industry is far-reaching and fast-growing. To make things simpler, the University of Oxford SAID Business School breaks down the proptech industry like this:
- Smart real estate: tech that helps the operation and management of real estate assets.
- The shared economy: tech that supports the use of real estate assets.
- Real estate FinTech: tech that facilitates trading of real estate ownership.
Proptech and sustainability go hand in hand
With companies increasingly making sustainability a priority, proptech is continuing to evolve with the times. Some disruptive developments include greener “smart” buildings and paperless real estate offices (the Proply app can help plenty with that!).
Big Data is the biggest opportunity for real estate
In a survey conducted by KPMG, 330 real estate decision makers were asked which technological innovations will have the most impact on the industry. The majority agreed: Big Data is, well, too big to ignore. With the right technology, you can have access to a goldmine of data helping you make better-informed decisions, take educated risks and drive conversions.
89% agree traditional real estate NEEDS to engage with proptech
The same survey found that 89% of experts agreed with the statement: “Traditional real estate organisations need to engage with proptech companies in order to adapt to the changing global environment”.
It’s so easy to get started
Proptech might seem big and new, but you can use it to improve your real estate business today. Start by revolutionising your real estate proposals with Proply, the first web-based proposal app.
Now you can quickly and easily send interactive proposals to clients with real-time alerts, analytics and easy online acceptance. Proply is powered by world-class tech including Domain Pricefinder, Google and Facebook. And it’s completely free to try out – no credit card needed.