In real estate, outdated procedures and inefficiencies are all too typical. However, if you know where to look, there are also many creative options.
PropTech is an acronym for property technology. It is a new sector that has emerged at the nexus of real estate and IT, and it promotes the application of platform economics and IT solutions to the real estate market.
In actuality, it has existed in some capacity for a while. However, it wasn’t until later that technical advancements made the potential for brand-new industrial game-changers more apparent.
PropTech, after all, provides innovative solutions like smart real estate, financing tools, platforms for searching for properties, tools for planning and managing building projects, etc. And practically any real estate market activity can use PropTech.
PropTech Trends in 2022
Although there are other emerging PropTech themes, the following are particularly important.
On any list of PropTech trends, virtual home tours are probably at the top. The ideal conditions for conducting virtual home tours were created by improvements in 3D rendering, a rise in demand for convenience, and a global health panic.
Such tours are among the biggest fads, and it’s unlikely they’ll lose favor over the next several years. And everyone profits from this, including investors, purchasers, agents, and developers.
Another well-liked PropTech trend is fractional real estate investment. Almost everyone can now invest in real estate thanks to the implementation of tech solutions. This indicates that more money than ever is available to finance developments and properties with an income stream.
Additionally, blockchain technology is advancing in the real estate industry. It may make it possible for people to purchase real estate using resources other than fiat money, speed up transaction times, eliminate middlemen, etc. The number of potential lenders and investors should soon soar.
Building management systems and smart homes will also receive a lot of praise in 2022. Buyers from younger generations prefer energy-efficient structures with more conveniences. As a result, developers that attempt to satisfy these requests ought to have little trouble increasing their earnings.
Lastly, data analytics is now making inroads into the real estate sector after revolutionizing commerce and technology. Developers and investors can use big data to determine purchase tendencies, prospective site value, demographic data, and much more.
Here are some proptech companies you should look out for in 2022
HomeViews is a website that allows users to review homes, neighborhoods, and other places. Its offerings could be compared to TripAdvisor but for the real estate industry. It gives users more details about potential home purchases through in-depth explanations, visual cues, and images. The platform solicits candid feedback from owners and tenants, which gives Proptech companies and real estate firms a stronger marketing and research tool.
Vacation rental-specific software Vreasy manages bookings, staff responsibilities, inquiries, and owner and guest services through a single, centralized administration system. With other significant vacation rental websites like Airbnb, Booking.com, and Tripadvisor, it has linked APIs. With the use of a smart calendar and a reporting system, Vreasy provides users with client feedback while also making it easier to use, navigate, and deal with bookings.
Coadjute, situated in London, was established in 2018. It specializes in blockchain-like technology that enables collaboration between various property sector segments through data exchange and decentralized workflow initiatives.
The business has effectively streamlined protracted property buying processes to the point where customers can now purchase using an app.
Collaborating with housing authorities. Additionally, Coadjute is employing its Proptech infrastructure to enhance construction projects’ security, quality, and accountability.
4. Qualis Flow
Co-founder Brittany Harris of Qualis Flow was chosen for a position on an expert advisory board devoted to the digital transformation of the real estate industry.
It seeks to design intelligent construction sites to reduce costs, wasted spending, and the negative environmental effects of construction projects. The environmental risk platform uses site-specific data to assess and report potential damage and suggest ways to mitigate or prevent it.
A leader in virtual 3D modeling, 3D printing, and scanning is 3DUniversum. With only a small amount of equipment needed, it offers 360-degree panoramas of rooms rapidly and affordably for the real estate industry.
By streamlining corporate and consumer processes related to commercial real estate, TOWER360 hopes to create a singularity based on its platform.
It employs data exchange and workflow, like Coadjute, to increase the effectiveness and agility of real estate negotiations. Its primary goal is to make its software simple to integrate with existing data formats and platforms.
Brickblock seeks to increase the number of real estates investment opportunities while utilizing blockchain to make the process easier, less expensive, and quicker.
Additionally, it employs blockchain to expand the investment pool worldwide, making it the conduit for a vast investor network. Brickblock’s legal and technological competence offers investors a secure and compliant framework, and blockchain technology is significantly more secure than earlier online investment techniques.
This is a concise list of the major proptech trends for the year 2022. Here are a few examples of proptech to show which way the real estate software development wind is blowing.