[ARTICLE] The three things PropTech startups really want

SystemSystem Administrator admin
PropTech is quickly becoming one of the biggest disruptors the real estate industry has ever seen. The opportunities presented by innovative PropTech companies are vast and wide reaching. Emerging technology such as IoT, artificial intelligence, edge computing, virtual reality and data analytics are combining to create new value for the industry and importantly, its customers.

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Comments

  • Ruth_MaguireRuth_Maguire Administrator admin

    The benefits that can come from early engagement between tech startups and real estate businesses is clear to see Paul. I'm sure this article will be eye-opening for many and help remove any fear there might be around collaborating with a new PropTech founder.

  • Conor_BradyConor_Brady Member

    pretty much nails it!

    Conor
    https://captate.com/

  • That was an interesting read. I agree that the real estate industry in the UK, from my experience, is loath to change and adopt Proptech solutions. I work for Houseprice.AI and from early days we have had a highly regarded Chartered Surveyor on our team to keep us on point! Embracing Proptech solutions has a huge benefit to the industry. Getting that message across is not easy. Yes, we are disruptive, but in a positive way.

  • Is there the risk of 'faster horses' if the proptech companies are working with traditional businesses? If so, how do we solve that? B2C is pretty expensive!

  • So true! Especially the middle point about industry knowledge. It's near impossible to get messaging right, as many prop tech solutions are for problems real estate didn't know it had or didn't really care about (but should). Prop tech companies need to start the market. Reading Crossing The Chasm makes me worry about the concept of creating a market and finding "competitors". Very difficult when you can't work out what the processes are that real estate companies follow in the first place...

  • David_MaireDavid_Maire Member
    Totally agree ,most founders I meet are very naive when it comes to understanding what looks simple on the outside is far more complex on the inside.
    All totally underestimate time to profitability and in particular cost of having an effective sales team.
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