The Rundown on Proptech: Current News Surrounding Proptech and The Value of Modern Technology for Real Estate

“Being a leader isn’t being in charge; it’s taking charge.” Cristina Herrera.

Although leaders must take charge, do not forget to check in on your team members as well. In keeping people motivated, it’s important to understand how they are feeling. Productivity increases when leaders can guide employees through tough situations. They must first get a pulse on how their employees feel.

In this short video, we highlight 12 leadership lessons learned in 2020 from OSW thought leaders. 

The Rundown on Proptech

If you are in the real estateOpens in a new tab. industry, understanding the ins and outs of Proptech should be of high importance, especially if you plan to have a forward-looking mindset within the digital era. The time has come to shed light on this wonderful opportunity and major industry changes as we have identified them today are only the beginning.

In Australia, Chinese investors have indicated plansOpens in a new tab. of re-entering the real estate market by the second half of this year. This is in relation to a forecast made because of the bounce back from the harsh economic conditions brought about the pandemic the previous year. Crown proptech also had a major announcementOpens in a new tab., stating the separate trading of their class A ordinary shares to commence before the end of March.

In other news, Ivanhoe Cambridge has inked a dealOpens in a new tab. with strategic partner Fifth Wall to enter into a proptech agreement, on top of their current investments in climate technology, retail technology, and real estate technology in certain regions in North America and Europe.

In this post, we take a look into the operational definition and concepts surrounding proptech and how it is viewed from different perspectives. 

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The Essence and Value of Proptech

In essence, proptechOpens in a new tab., also known as property technology or real estate technology, can be defined as a set of cross-industry technologies capable of changing the way people research, compare, buy, manage, and maintain the property. This method is utilized by several companies to improve, refine, or innovate on the services that are commonly utilized when it comes to any transaction or action towards real estate as a whole.

Even dating back to several years ago, proptech was identified to be the catalystOpens in a new tab. for the real estate sector to enter into an economic boom. Firms have been making a slow and steady pivot from the traditional means and ways of asset management to the technology-centric approach that is much easier to monitor and keep track of. As can be observed, technology truly plays an integral role in the proptech and real estate spaces, which is why the future is bright for entities that venture into the proptech business model. It was even stated that the importance lies in the customer experience. 

The thrust of proptech is found in improving the experienceOpens in a new tab. or interface not just for the proprietor, but also for the end-user. Having the possibility to virtually exhibit properties available while giving options to the consumer to match his/her necessities and desires is a feature that indicates a seamless and free-flowing transaction-based interaction between vendor and customer or client.

Perspectives of a Proptech Investor

The growing importance of proptechOpens in a new tab. can no longer be neglected. Whether your organization is big or small, local or international, proptech is a buzzword that you should no longer ignore. Traditional real estate entities and organizations are now looking deeper into the opportunities presented by proptech and related technologies. Despite the potential risk, the reward and innovation may just be well worth the investment. 

In this throwback interview, (oh how production has improved), I chat with Frank Cottle, CEO, and Founder of Alliance Group of Companies, proptech investor, and serial entrepreneur. Frank is a veteran entrepreneur who has owned serviced offices for over four decades. His company has amassed almost 11,000 offices spread across 54 countries. 

In the series of interviews, we learn about the following concepts:

– The importance of owning a customer and not the center (serviced office)

– The value of workplace flexibility and why companies need it

– Finding the best people for the job and how to create a proper work environment

– The long-standing relationship between data, information, knowledge, and action

– How virtual reality and augmented reality could have big roles in the future of work

– Why technology is essential today and how it could help build the future

If you want to learn more about the fascinating insights of proptech investor Frank Cottle regarding workplace flexibility, technology, meaningful actions, and enhancing the work environment, check out our full video below.

How valuable do you think proptech investing is overall? What are the related aspects of the work and the workplace that could contribute to the decision-making process? Is workplace flexibility a great matter that should be discussed in this day and age? How can technology benefit both the present and the future?

Join our discussion on our Discord server via the following link:

Proximity Bias & Flexible Working

Biases can sneak into the workplace if we are not careful. There are a lot of biases to be aware of. One of those is proximity bias. In this podcast, I will discuss proximity bias and flexible working with industry thought leader, Denise Brouder, CEO & Founder of Swayworkplace.

Wednesday, March 31st, 8 AM Eastern, 1 PM CET.

Get notified when we go live by subscribing to our YouTube Channel and put your questions to Denise. CLICK HEREOpens in a new tab.

Connect with Denise HEREOpens in a new tab.

Learn more about SWAYworkplace: Website:Opens in a new tab.

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Steve Todd

Steve Todd, founder of Open Sourced Workplace and is a recognized thought leader in workplace strategy and the future of work. With a passion for work from anywhere, Steve has successfully implemented transformative strategies that enhance productivity and employee satisfaction. Through Open Sourced Workplace, he fosters collaboration among HR, facilities management, technology, and real estate professionals, providing valuable insights and resources. As a speaker and contributor to various publications, Steve remains dedicated to staying at the forefront of workplace innovation, helping organizations thrive in today's dynamic work environment.

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