PropTech (Property Technology) is a new word popping up constantly in the real estate world. To a layman, it’s nothing much, but to realtors/estate agents,…
PropTech (Property Technology) is a new word popping up constantly in the real estate world. To a layman, it’s nothing much, but to realtors/estate agents, it’s a big deal! To start with, what does PropTech mean? How should real estate professionals respond to the emergence of PropTech? What’s at stake for realtors as regards PropTech? All these and more will be discussed in this post as I intend to create a clearer picture of this subject matter.
PropTech (Property Technology) means using information technology (IT) to help organizations and individuals do research, buy, sell, and manage the property. In other words, PropTech is a part of a whole digital transformation that is recently evolving in the real estate world. It concerns the phenomenal mind shift and, of course, changes in technology in the real estate industry and how it affects consumers behaviour and the entire property transaction.
How should real estate professionals respond to the emergence of PropTech?
It’s simple. Firstly, as a realtor, you need to understand that change is inevitable and moves with the new tide as you keep the business bond with your clients. If it seems complicated for you to flow with this trend, i have made a few helpful tips to guide you.
What’s at stake for realtors as regards PropTech?
First of all, It's essential for you to note that for an idea to have a name, it’s authentic and defined. It would be best if you also believed that it’s valuable to investors. However, if you are a newcomer in the real estate industry, you need to dig deeper to analyze this new change and flow along; else, you will not be able to offer better real estate solutions or have enhanced client satisfaction.
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