How PropTech has Transformed Real Estate?

Over the last few years, Real Estate has seen a transition from traditional methods to technology-driven ones. With the increasing role of PropTech or property technology, it can be argued that this trend is accelerating, especially in the aftermath of the pandemic.  

In this blog post, BeyondWalls as an Integrated PropTech Ecosystem briefly outlines the current state of property technology and its role in real estate’s sales, marketing, & management landscape. 

Seamless Internal & External Communication 

As the industry moves towards a more digital world, real estate professionals are turning to property technology to communicate and collaborate with clients and colleagues. PropTech’s ability to quickly send important updates and documents across various channels has made it an indispensable tool in today’s real estate market. 

Here are a few examples of how PropTech is helping developers and brokers to communicate in real-time: 

• Send updates about pending deals directly to clients’ phones 
• Post listings quickly and easily on multiple social media platforms 
• PropTech companies in India can use property technology for communication between brokers and clients, including updating them of new listings, repairs, etc. to provide better service. 

Increased Efficiency & Productivity

Since digital transformation is all about increasing efficiency, it’s no surprise that real estate professionals are led by the property technology sector in this area. PropTech solutions help to speed up and automate various processes, making it easier for real estate professionals to get touches on what they’re supposed to be doing.  

Here are four main ways PropTech can improve real estate efficiency:  

• Manage data more effectively 
• Improve communication and collaboration 
• Widest reach for marketing campaigns 

• Understand the bottlenecks 
• Improve the digital sales & marketing pipeline 

Metrics on the Project-management Front

It is a given fact that a successful project requires good planning and coordination. To achieve this goal, project managers must track all aspects of the project from start to finish. Ideally, this data should be captured using a tool like PropTech that can automate many of the tasks involved in tracking a project.  

Here’s a brief on what can be achieved on the project management front. 

• Budget management and accounting 
• Resources management 
• Document sharing & control 
• Digital site tracking & supervision, and more 

By automating these tasks, the project manager can focus on more strategic priorities instead of mundane details.  

Advanced Analytics Across the Entire Pipeline

As the real estate industry continues to evolve with new technologies, there is an increasing demand for advanced analytics services. PropTech companies in India are well positioned to meet this need by using data-driven insights to help agents and landlords better understand their properties and their communities. 

Some PropTech companies offer property data visualization tools that allow users to see the impact of different changes, such as zoning changes or new construction. This type of information can help agents make better decisions about prices, listings, and other marketing efforts. 

Another PropTech initiative involves the use of predictive models to predict future trends in the real estate market. These models can help agents identify areas where demand is likely to increase or decrease and plan for repairs or redevelopment accordingly. 

Make Informed Decisions

Proptech can help developers and brokers better understand their communities and customers, enabling them to make more informed decisions about where to invest time and money.  

Here are some examples of where stakeholders drive informed decisions: 

• Help developers focus their real estate digital marketing efforts on those who will be the most valuable to them.  
• Make more informed decisions about where to invest their time and money with respect to data such as rising appreciation rates, housing values, and infrastructure. 
• Save time and money by connecting with communities, property owners, and tenants more effectively. 

• Purchased data and algorithms can aggregate information about neighborhoods and make it very easy to identify trends in areas of interest.  

In Conclusion

In this ever-changing digital world, the real estate landscape is quickly changing. With technology advancing at such a rapid pace, it’s no surprise that PropTech is becoming an increasingly important part of the business world. Companies in India such as BeyondWalls PropTech are able to provide innovative solutions that help stakeholders to interact with customers in new ways, all while automating many of the processes involved in the real estate transaction.