
The Impact of Proptech and Fintech in Real Estate Industry
Real estate industry is mostly a traditional one. However, companies are now incorporating proptech and fintech to achieve a digital road map for their success
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CIO Applications Europe | Tuesday, July 14, 2020

Real estate industry is mostly a traditional one. However, companies are now incorporating proptech and fintech to achieve a digital road map for their success.
FREMONT, CA: In this tech-enveloped world, digital interventions are reshaping the face of almost every business. But the advancement of technology in the real estate industry has been delayed in comparison to its contemporaries. One of the primary reasons for integrating technology into the real estate business is the faster decision making capability. Moreover, the property technologies assist in easy and better collection and interpretation of data and effective communication between buyers and sellers.
Bringing real estate closer to Proptech and Fintech
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Proptech refers to the technologies that help to improve property-related activities. Today one can view, virtually visit and buy the property of their choice without visiting the site physically. Proptech is not only redefining the nature of buyer-seller interaction but also improving the transaction processes, development, and management of the properties.
Check Out This: Real Estate Business Review Magazine
In contrast to Proptech, Fintech is not a novice in the market. Financial services are always data-driven, which has opened the door to technological solutions. The sophisticated algorithms and software can assist the real estate industry in trading and leasing of the properties, through digital platforms and improve home loan facilities, making it convenient for the buyers to finance.
How proptech impacts the sharing economy
The sharing economy models a digital platform that engages people to convert their assets into income with efficient management. The integration of proptech and sharing economy in the real estate industry has enabled the utilization of the assets and space through technology. For example, Airbnb has transformed the concept of renting accommodation through a digital marketspace, providing more than 1.5 million global listings across 190 nations.
How Sharing economy impacts real estate
Today the startups are modifying the property-buying experience globally. The impact of sharing economy in South Africa is significant, where about 90 percent of the customers are availing the real estate services online. Proptech Africa is an initiative on this line.
These tech-solutions are easing the transactions and property management through investment avenues and crowdfunding platforms. With time, the large scale use of affordable technologies will provide traders with a data-driven edge.
Moving into the future of proptech
The outbreak of the pandemic will hike the importance of proptech in real estates. Companies are now embracing proptech solutions for securing a more flexible business environment and attracting a higher number of clients.
There is no denying that the industry has identified the scope of these innovative solutions and accordingly deployed proptech into their business. The coming years will witness a higher investment in fintech and proptech for real estate that will help to execute more efficient plans to keep up to the market demand.
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