Focus Outlook

Reducing Communication Gaps Between Proptech Startups and Real Estate Firms

Share:

The Proptech industry has been experiencing significant changes. The market is expected to expand substantially. 

The market value of PropTech increased significantly from US$19,608.1 million in 2023 to a projected US$47,842.5 million by 2033. (according to future market insights).

As the need for information and improved house buying and selling experiences increases, the communication gap between startups in the proptech sector and established real estate enterprises is decreasing considerably.

READ MORE: Global Proptech Market: Important Facts

Like several other industries, the proptech market is impacted by technology. The real estate industry was undeniably not-so-fast in showing adherence to the rapid pace at which technology was disrupting the tech world. 

The industry has progressed beyond this phase. The current proptech market leverages technology actively into its core features. 

The PropTech business is expanding significantly as a consequence of new technology-based solutions. Relying on these solutions, the industry is successfully bridging the communication gap between startups and real estate companies.

READ MORE: Drones As Part of Proptech, from A 2023 Perspective

This development is being driven by trends like AI, data automation, sustainable technology, and IoT. 

The most important benefit of Proptech is streamlined communication across the industry. The need for face-to-face interactions is eliminated in many cases. The direct consequences of such a facility include enhanced accuracy, cost savings, and faster responses. 

When it comes to identifying the best investments, marketing, and selling, real estate investors are benefiting from the insights offered by big data solutions.

MUST READ

Five Years Post £11M Contract, Vehicle Testing Lanes At New Center Set For Replacement

The Department for Infrastructure has confirmed that nine vehicle testing lanes at the new Hydebank center, completed in...

New Airport Director Takes Charge At Gulf Shores International Airport

Officials at Gulf Shores International Airport (GSIA) have appointed Jesse Fosnaugh, A.A.E., ACE, as the new airport director....

Alphabet Surpasses Q3 Forecasts With Record $88.3 Billion Revenue Fueled By Google Ads

Alphabet Inc., Google's parent company, surpassed Wall Street expectations in its Q3 2024 earnings, reporting record revenue of...

The future of work and HR technology

The world of Human Resources (HR) has changed dramatically over the past few decades, with technology playing an...