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January 5, 2024

Proptech Revolution: How Tech is Changing Real Estate Transactions

• Proptech is changing the way real estate is bought and sold.
• Consumers increasingly prefer DIY digital experiences, reducing reliance on real estate professionals.
• The old face-to-face transactions are being replaced by online interactions.
• Smart tech, AI and machine learning are facilitating seamless real estate purchases.
• Real estate professionals need to adapt to these changes or risk being left behind.

Have It Your (Proptech) Way: The Estate of Real Estate

The (Not So) Boring Stuff: Proptech Impact

Real estate, a market characteristically stuck in the stone age, is finally getting tech-savvy. With proptech, we’re not just talking about fancy digital “For Sale” signs. Nope, this is about the overhaul of the entire transaction process – from toasters-sized paperwork to pocket-friendly online apps. Buyers and sellers now enjoy the thrill of calling the shots, turning realtors into mere spectators in their own game. How’s that for a game-changer?

Let’s Get Digital: Living in an App World

Long gone are the days of home buyers trekking from one open house to the next. Now it’s all swipe left, swipe right – not just for potential life partners, but for potential homes too. The increase in DIY digital experiences has put the power at the consumers’ fingertips, leaving those stone age realtors running to catch up.

And Then There Was AI: Rise of the Machines…In Real Estate

Not to be left out, AI and machine learning are also strutting their stuff in the property parade. These smarty pants technologies are aiding in estimating property prices – or in real estate lingo, helping potential buyers figure out if they’re getting a sweet deal or if they’re about to flush their money down a fancy smart toilet.

Get with The Program, Or Get Left Behind

Is it ‘adapt or die’ for real estate professionals? The curtain hasn’t fallen on estate agents yet. But they’ve got to adjust their pointy hats and get with the tech program lest they be bobbing for apples in the sea of irrelevance.

Well, folks, as we brace ourselves for the brave new proptech world, our traditional estate agents are scrambling to stay afloat. Could we see a world without them? A virtual tour of your dream home led by a witty AI-offspring guiding you with its digital finger? Like it or not, this dream could soon be a reality. So, if houses were flying off the digital shelf, where would you hitch your horse? In the dusty cobbled streets of traditional real estate, clutching at parchment paper deeds? Or in the shiny new world of proptech, where transactions are as easy as Instagramming your fur-baby? We’ll let you decide. But remember – the future, much like a good real estate agent, waits for no one!


Original article: https://www.inman.com/2024/01/03/its-past-time-for-proptechs-to-shift-focus-from-agents-to-the-consumer/

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Martin Towers


Martin is an ex Real Estate Agent turned digital marketer and entrepreneur now specialising in helping Realtors all around the world

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