5 WAYS PROPTECH IS CHANGING REAL ESTATE

If you are part of the real estate industry, you, no doubt, are becoming more and more acquainted with technologies every day. These technologies represent a positive force –one that will make real estate investing and wealth management even more interesting. In order to become better acquainted with PropTech (short for Property Technology), you first need to define its use in the real estate industry. You may have also heard of RealTech and ConstructTech but they basically are all related to the property industry.

To make the definition clearer, you only need to compare PropTech with FinTech, which represents technologies that simplify financial services for clients. PropTech and FinTech were developed to meet changing business models and customer demands. Therefore, PropTech references companies who use technology to improve services in the property field. These services can range from building homes that are energy-efficient to applying for mortgages.

We like 500, and they actually say this:

The real estate field is seeing the wisdom of using PropTech applications. Following are 5 key ways that the technology is changing how things are done in the real estate industry.

Consumers who are searching for their dream house can use PropTech apps to review customised floor plans of models. By using the app, a client gets a better idea of the home or apartment he or she wishes to buy or let.

Today, with the emergence of PropTech, agents, renters, and owners of properties can collaborate more easily.

Another way PropTech is used in the real estate industry is to make shared living a simpler activity.

The PropTech apps that are featured today also make it easier for investors and buyers to make better-informed buying decisions.

One of the major PropTech players in Switzerland is Spectando. This key company is proposing a new way for house hunters to review properties. With their PropTech app, property owners are able to produce tours of their house using their mobile.

PropTech apps are indeed exciting technologies in the real estate field. The use of cloud technology not only simplifies the work of property asset managers and investors, it also makes it easier to shop for real property. Whether you are a renter, property owner, investor, mortgagor, mortgagee, estate agent, or broker, PropTech apps streamline and enhance a variety of real estate processes.

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