Love Is In The Server

Monika/Pixabay

Proptech (short for property technology) has been around since the 1980s, offering technology backed solutions to make life easy for everyone in the real estate ecosystem. 

But despite being around for over three decades now, the love people have for it refuses to die. 

It's mind boggling to see the number of technological innovations in the real estate sector — hundreds of tech solutions across numerous subcategories with billions in aggregate revenue, all from companies that didn't even exist ten years ago. 

What makes Proptech so endearing?

Need a good reason? Well, here are four.

Proptech Solves Real Life Problems - Remember the time when a building floorplan was a 3 feet x 5 feet blueprint? Those darn things were a pain to carry, an even bigger pain to create, and costed a bomb when you needed a reprint. Computer aided design and rendering have ensured the end of the poster carrying days. This applies to all facets of real estate. If you get the drift, you can only send ❤

Proptech Caters To A Profitable Industry - Remove all the tech from real estate, send it back to the stone age and it is still a profitable industry. When you help a profitable industry scale up, you improve er, profitability, reduce costs and get ❤ in return. 

Proptech Helps You Win A Zero Sum Game - Real estate is a dog-eat-dog, zero-sum game. The market in general is making the pie bigger, but each transaction is a competition with many successful, competent players. When technology gives you an edge over the others, you are sure to ❤ it. 

Proptech Is All About Collective Success - When property search engines arrived, they did not just ease the lives of a few. Similarly, when home buying went all-digital during the pandemic, the entire industry found the means to pivot and survive. The result? More ❤ for tech. 

Real estate will never run out of problems to solve. Anyone who's worked a few years within the industry will know how complex processes can be done easily with technology. 

Tech startups are finding and solving those problems even as you read this. In return, all they ask for is love and boat loads of money.