HOW IS “PROPTECH” CHANGING REAL ESTATE?

August 4, 2021

The events of the past 2 years were enough to bring many businesses to their knees.

Real estate was one of those that was expected to be the hardest hit. But instead of laying down and accepting its fate, the property industry stepped up and rolled with the punches, breathing life into ‘PropTech.’

When pushed into a corner, it turns out that real estate can go digital just as well as the next guy.

Read on for a closer look at PropTech disruption and the benefits it brings.

What is PropTech, and what are the benefits?

PropTech, or property technology, is real estate’s way of continuing as close to normal as possible, with much of the industry going digital. In the past, real estate has been very slow to update their systems and keep up with the Joneses. After all, why fix what isn’t broken?

Various real estate processes can happen using PropTech and its apps, from shopping to buying to even creating a smart home. These apps and technologies simplify not only the lives of agents but also of investors and buyers.

With just a simple smartphone and the right app, agents or sellers can produce virtual tours of apartments for sale. Even more beneficial to the real estate industry is being able to create virtual tours and provide 3D Floor plans for off-the-plan projects. 

Off-The-Plan Projects

Off-the-plan projects are those that are not yet complete before they go on sale. Some have even yet to be started. Buyers are sold on the idea of the projects & the features & finishes rather than the physical feel of the apartment or house. 

Buying property off the plan may seem like a daunting idea. Yet, in this day and age, the digital mock-up of projects is so advanced and accurate that you cannot help but be impressed and intrigued. 

With the right company and the right information, there is nothing to concern yourself with. This is where PropTech comes into play. Being able to see what your potential apartment and the surrounding space look like goes a long way in helping property buyers make a quick decision. 

PropTech Expertise

Real estate companies who have invested in PropTech to sell off the plan projects have various tools at their disposal. Well-planned sites and portals are a must, as well as clear and accurate designs and appealing visuals.

Mortgage calculators are another handy tool to have. They encourage potential buyers to do some sums, which can change a mindset from just looking to buy. Many companies also have all their current projects on display for buyers to browse. 

Here to Stay

No industry that has made the switch will ever regret going digital, and the addition of PropTech for real estate is no different. By implementing new features which encourage the virtual purchase of property, even for apartment blocks that haven’t begun, property sales will experience a huge boost.

If you would like more information on our off-the-plan projects or see what else we have to offer, click to contact our friendly, professional team today to make your property dreams come true. 

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