As part of the PlaceTech Trends Q1 2019 report, I was asked what I think will be big for PropTech over the rest of the year.
So here's what I think might happen, and who I think are worth watching.
As with any industry, the best tools are the ones that solve real problems by empowering their users.
In this new wave of PropTech, companies are often doing this by bringing together vast amounts of information that can help property professionals make better decisions and presenting it in a simple, actionable format resulting in productivity gains.
The planning system is at the heart of the property industry and widely known for being antiquated and clunky to navigate. 2019 will be the year where it is unravelled by technology so it’s easy to work with.
This will unlock huge opportunities for the development industry, councils and communities.
Another interesting trend is how Big Data companies are moving into the space. Companies like Google, Amazon, Airbnb and Facebook are taking to the industry in a massive way.
This is particularly significant because they have the resources to stimulate the whole property ecosystem (not just PropTech) which will encourage investment and innovation all around.
For us, industry-wide recognition such as winning the PlaceTech Startup Prize has helped to get our brand out there, making it much easier to engage prospective companies when we reach out. More generally, we have really noticed that the PropTech ecosystem has matured.
Much more real time data about the market has become available and the investment sector is getting more organised with the likes of Unissu gathering momentum which enables investors to make better choices about who to invest in, or use for themselves.
Hubble has just raised a Series A funding round which suggests they’ve overcome many of the scaling challenges that had held them back. They’ve built an impressive platform and if it can cover the whole market it is much needed and will add huge value.
Chatbots are also becoming sophisticated. It’s interesting because the hype died down a few years ago but the development and funding didn’t stop and now they are quite powerful with serious applications at every stage of the real estate ecosystem.
AskPorter for example is doing great stuff with property management with their digital assistant solution.
Finally, it seems like we have been talking about AI forever as a thing of the future, but all the products I’ve mentioned use it in some way – it’s happening now.
Another good example is PerchPeek, who are using AI to match renters with homes and are seeing better results than traditional renting platforms. That’s quite impressive!
You can read the full Trends Q1 2019 report over on the PlaceTech website.
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Jonny's the CEO at LandInsight. He lives and breathes PropTech – he’s often the guy who can see what's going to happen before it happens. He has strong principles and is known throughout the industry as an advocate for diversity in the workplace. He hates Diggerland and loves snowboarding.
As it stands, we’re in the middle of a longstanding housing crisis, and its in all of our interests to make finding new land opportunities a simpler and more effective process.
LandInsight is the answer. It has been developed to remove the barriers and inefficiencies that result in developers and individual buyers missing out, wasting time and incurring unnecessary costs.