How Proptech Is Changing Your Neighbourhood Broker

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When boat loads of money is deployed into technology, the larger picture must transform in order to justify the spend. Property technology (proptech) is no exception. 

Big Vision

Today, more than ever before, proptech innovations are being applied in every nook and cranny of the real estate business and the general word on the street is that if you don’t adopt, you’ll be lagging, and thus big investments are needed to maintain market share. 

With that as a backdrop, two key areas where global real estate firms are investing over the next five years are - one, the digitization of the entire life cycle of property, and two, sustainability, a very data-heavy investment requiring extensive emissions monitoring.

While VCs and proptech startups seek to innovate and transform how the sector operates, change is also coming from within, in the form of big brokerages and real estate service firms investing in their own technology. 

Big Transformation

Changing real estate operation systems and data analytics is also changing the way people function within the real estate sector, especially brokers/channel partners. 

Today, they are being finally challenged to move beyond traditional methods and institute more sweeping upskilling through the use of technology. 

In short, proptech is changing the way brokers operate. 

Their erstwhile analog position is being swapped with a different kind of broker - one who has more extensive technological knowledge, who forms deeper relationships with clients that go beyond transactions, and who becomes a trusted advisor. 

This piece even goes on to call this new tech savvy individual - Broker 2.0.