PropTech Solutions To Boost Your Business

PropTechs shape the future of the housing industry. The housing industry and real estate have recognized the need to deal with digitization and promptly launch their own processes. There are some housing companies that discovered the potential of digitization early on and have been investing in this forward-looking area for years. The task now is to optimize the existing solutions, link them together in a meaningful way, and develop uniform standards. Digital platforms, for example, which combine individual solutions into a uniform system, can contribute to this. In everyday work, platforms ensure that applications are designed more clearly and are easier to use.

How does PropTech shape the future of real estate?

PropTech describes a small piece of a big puzzle that can be defined as a major digital transformation in the real estate industry. According to Wikipedia, PropTech describes the digital transformation of the real estate industry as well as the individual innovative companies (often start-ups) in this branch of the economy. PropTechs optimize or invent real estate products and services by using the latest information and communication technologies and making or introducing business processes or business models more efficient. They are aimed at both companies (B2B) and end consumers (B2C).

PropTech is a small part of a larger ecosystem that influences a large number of industries and their respective innovations. PropTech stands for a change in mentality in the real estate industry. Follow this link to find out more about the development of PropTech solutions.

How is PropTech differentiated?

Businesses partner with PropTech companies for a variety of reasons. The focus is both on increasing efficiency and optimized decision-making as well as on increased sales or stronger customer loyalty. What PropTech solutions do exist?

Marketplace. The marketplace describes technology-based platforms that are changing the way real estate is traded and used. In other words, the platform brings supply and demand together and allows transactions to be carried out (like in a classic marketplace). 

Investments. Real estate investment describes technology-based platforms that are changing the way real estate is traded. These platforms use or build their platform as a service and offer their services for different types of investment opportunities.

Property management. It describes technology-based solutions and facilitates the operation of real estate assets. It is the investment-oriented, operative management of real estate objects in the interest of the investors/owners during the management phase and at the interfaces to the planning/procurement and uses phase. 

Construction. Construction technology is understood as the collection of innovative tools, machines, modifications, software, etc., used during the construction phase of a project and enabling the advancement of construction methods.

Smart Buildings & IoT. Smart Buildings & IoT describes technology-based solutions that facilitate the operation, management, and sustainability of buildings. The assets can be individual residential units or residential/commercial buildings. This sector supports construction, asset management, property management, and facilities management.

The Internet of Things (IoT) is a novel technology model as a large-scale network of machines and devices that can be connected by everyone else to collect and exchange information/data. 

Immersive Reality / Mobility. This sector describes technology-based solutions that facilitate the development, maintenance, and visualization of buildings. It is integrated into all other sectors. Virtual reality and augmented reality have the potential to transform a number of areas within real estate and the construction process.

Big Data Analytics. This is the main sector in real estate tech and is impacting every PropTech sector from land, design, build, sale, lease, lease, use, maintain to end of life.