18:00 - 18:30, 7th Jan 2021

Explore and learn how Proptech is evolving to change the real estate landscape.

Rosann Copfer
LUX & VINE
Host
Session Description
Proptech is a technology that makes it easier to buy and sell real estate. With the recent hype around real estate technology (or ‘PropTech’ as some like to call PropTech entrepreneurs), tech evangelists and scholars predict a ‘digital disruption’ of the industry leading to a digitalization of global real estate industry. Technology now is embedded in almost all aspects of real estate. Since 2010, a new entrepreneurial class is altering the real estate landscape, introducing new technologies to a market that is READY for innovation. It is that recent and emerging innovation, influenced by Proptech companies, that is looking to change long-standing business models within the real estate industry. PropTech has been hailed for its injection of efficiency and innovation in a traditionally slow-moving industry. As the number of Proptech companies continue to grow and new technologies advance there isn’t a single real estate vertical that hasn’t been impacted by the recent wave of technological advancement. PropTech will continue to challenge the real estate industry, thanks in part to the continued exponential funding. With several large investment funds and accelerators making significant investments in technology companies—investment activity is rising and addressing consumer buying behavior. PropTech start-ups are popping all over the world North America, Europe, Asia, and Australia. PropTech hotspots California (Silicon Valley for example), the east coast of the U.S, Western Europe in particular London, and metropolitan areas in Asia. Investment in PropTech was up 69% in 2019 to the tune of $9.0 bn and we are continuing to observe significant investment outpacing 2019. Emerging technologies and shifting homebuyer demographics have begun to shake up the real estate industry. These factors have influenced all aspects of traditional real estate transactions leaving many Proptech leaders scrambling to define where the future of real estate is headed, and how to best adapt to these changes. As Proptech continues to look for "What's Next" we need always remember who the technology is supposed to help. Do Realtors, Buyers and Sellers really need it? Do they want it and will they actually use it and find value in it? Have Proptech companies really begun to solve and build solutions that matter?

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