6 Crucial Benefits of PropTech

The latest wave of innovative solutions that use disruptive technology has swept into the market for real estate. It’s known as Proptech, which means the application of advanced technologies that help enable the sale, use and leasing of real estate more efficient.

There are a variety of ways that the innovations in PropTech will help the real estate market. PropTech isn’t just an attractive option to investors but innovative tools help millions of buyers, landlords and sellers enhance their property journeys. Therefore, both companies and consumers can reap the benefits of Proptech. What are the concrete benefits? Let’s see.

1. More innovation is happening on the residential real estate sector

We’ve heard of the speed with proptech is causing waves in the world of proptech. But there’s a lot more to it: Big data could provide information and the knowledge needed to make an informed decisions, making it easier to purchase as well as sell additional properties. Sensors as well as big data and analytics help the real estate industry to develop more. This is the primary reason for why the number of the number of investments in PropTech software companies have increased in recent years.

2. More Transparency

The latest technologies, such as blockchains or big data specifically increase the level of transparency. Different tools allow people to monitor their property transactions with the press of an button. Because all parties is aware of each transaction, more transparency can be achieved. This is why there was a need for the Global Real Estate Transparency Index was created. It has evolved into the top industry standard for assessing the transparency of markets and continues to guide the industry toward higher standards.

3. Promotions are enhanced

Technology can help with a variety of issues that property managers face like finding tenants, or the marketing of an investment property. From floorplans to galleries, to tours on the internet: growth of 3D virtual tools allows real estate agents to market the property they already have or to promote upcoming development. Have you had the opportunity to use Snaptrude? It’s an architect design tool that transforms an original sketch drawn by hand from a floorplan the 3D model in just a few minutes.

4. Increased occupancy

Also, the administration processes of your property could be made digital. There are many rental platforms or applications that landlords and tenants are able to connect easily and decrease the amount of vacant spaces. Of course the digital access management software can also help you allocate rooms more quickly and with greater flexibility. The space can be used more efficiently. Skepp is an excellent instance of a digital platform where you can browse and compare office spaces across the world.

5. Improved communication

A lot of PropTech companies concentrate on the creation of messaging platforms to improve the communication between tenants and landlords. Most of these platforms allow access to forms or documents to report claims. Property managers can also write important information about the house on the whiteboard and owners can directly respond to tenant requests. More clarity and less confusion result.

6. More valuable

Each of these scenarios could end up increasing the value of real home, which can lead to higher rents. Consider it this way. The buildings that are equipped with PropTech are likely to be regarded as high-quality and will be viewed as more valuable than a building which aren’t equipped with PropTech.

The various Proptech applications can make significant impact on real property. The power lies in the mixture of them and the added value they bring.

Property News Room Articles

Bringing you property related news from around the world.