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Proptech - disruptive technologies and their impact on the real estate industry -


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An overview on PropTech and how it will impact the Real Estate Industry. PropTech brings us innovative business models, new technologies and better customer experiences.
The more customers meet these new kinds of experiences, the more important it will be for real estate players to put CX in focus when building digital products and services.

The presentation was held in Cyprus, at the 13th Real Estate Conference in Nicosia.

Published in: Real Estate
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Proptech - disruptive technologies and their impact on the real estate industry -

  1. 1. PropTech Disruptive Technologies and their Impact on the Real Estate Industry Gyula Bajkai
  2. 2. Laura Szabo Digital real estate product expert with various roles and projects across Europe and Asia. Gyula Bajkai Customer Experience specialist with a background in digital product development for startups and Fortune 500. We help RE players in digital transformation, with partners in Europe and Asia. ● Strategy ● Digital product design ● Product development
  3. 3. What is PropTech?
  4. 4. “PropTech refers to businesses using technology to disrupt and improve the way we buy, rent, sell, design, construct and manage residential and commercial property.” — Forbes
  5. 5. What falls under PropTech? Buying and selling - Listing portals (res/comm, sale/rent) - iBuyers - Tech-enabled brokerage - Broker-free listing - Real Estate agent tools - Agent matching Shared economy / Space as a service - Co-working - Co-living - Brandboxing Home / facility management - Facility management - Smart home / IoT - Home services - Smart city / sustainability Data, Valuation, Analytics - Property information - Valuation - Big Data / analytics Visualization - Virtual tour / floorplanning - 3D/VR/AR - Drone photo & videography Real Estate financing - Mortgage tech - Investment / Crowdfunding - Lending (P2P or other) - Insurance Property management Construction technology
  6. 6. Early PropTech (1980-2000) PropTech 1.0 (2001-2007) PropTech 2.0 (2008-present) PropTech 3.0 (future) ? Tech in RE is not entirely new Source: Forbes
  7. 7. Expectations Time Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Innovation Trigger
  8. 8. Smart Workspaces Connected home AI based valuation iBuyers Tech-enabled brokerage Listing portals VR/AR Coworking Mortgage tech Crowdfunding ConTech Expectations Time Peak of Inflated Expectations Trough of Disillusionment Slope of Enlightenment Plateau of Productivity Innovation Trigger PropTechs are at various phases on the Hype Cycle. Drone photo/video Co-living Brandboxing
  9. 9. $4.5 billion invested in PropTech in Q1 2019 Source: CREtech 2017 2018 Q1 2019 $12.6 bn $9.6 bn $4.5 bn
  10. 10. What does PropTech bring us?
  11. 11. Example: Space-as-a-service: instead of just space, landlords also provide services that enable tenants to conveniently utilize space Co-working space provider WeWork became the largest lessee of CRE space in NY City. 1. Innovative business models
  12. 12. Example: iBuyers: sell property directly to a company, instead of looking for buyers In Phoenix, instant buying accounts for 6 percent of all real estate transactions 1. Innovative business models Source: Mike DelPrete, Industry Analyst
  13. 13. Technology is the driver, but alone not enough for success. Product-market-tech co-operation needed. 2. New technologies Market Tech Product
  14. 14. Example: Opendoor Sell your property in days without the usual hassle. Self-tour any Opendoor property on your schedule 3. Better customer experiences
  15. 15. Example: Landed Landed lets teachers buy homes they could not afford otherwise. 3. Better customer experiences
  16. 16. 4 tips for RE players
  17. 17. 1. Assess and adjust your strategy Where are you now, where do you want to get? Where can technology help? Are there PropTechs already on your market?
  18. 18. 2. Cover new skills needed to build digital products Have someone in charge of driving innovation Have product people coming from digital background
  19. 19. 3. Engage with tech players Tech players have technology, RE players know their market best Build together
  20. 20. 4. Put CX in focus Demanded customer experience is dictated by Apple, Google, Uber etc... ...But this does not mean you need to do magic!
  21. 21. Thank you! We help RE players in digital transformation. ● Strategy ● Digital product design ● Product development Gyula Bajkai