Prop Tech – whats that??
Property’ has always been regarded as a people business but as times have changed, the complexity of processes, legislation and finance has increased massively making – and sometimes breaking – deals that can take months to complete. Technological advances have made significant improvements in speed, simplification and in some cases, replacement of staff – but is it really the saviour of our industry or any other?
Most sectors of Business now have ‘tech’ movements. The travel business has traveltech, the finance world has fintech. With property, we have proptech!
The advancement of the mobile phone and affordable electronic devices means we are all using ‘proptech’ to some degree in our daily routines. Apps to pay bills, remote lighting, security systems and even shouting at ‘Alexa’ to turn on the T.V! Now, most property professionals are using proptech on every level in the real estate world.
Let’s have a look a just a few of the many tools and gizmo’s either already used or coming soon…
AI and walkthrough tours – Yes, artificial intelligence is entering the property world, and whilst we are not yet near Terminator level yet, but many automated agency functions are already being powered by intelligent machines! Walk through tours partnered with live video calling is bringing together long-distance buyers and enabling them to purchase without ever setting foot in the home.
Apps – It seems these days that there is an app for everything. Here at Hawkins sales & lettings we have a clever app that allows us to take remote photos when using our Virtual Tour 360 deg camera. We have apps for booking viewings, apps for instant online valuations. The major property portals have apps to search property listings and get instant updates as and when they go to market.
Conveyancing – The legal process can be a minefield and the most common annoyance of customers is usually a lack of contact and the time taken to process and send documentation. But with the help of various new apps and software development solicitors can now give customers and agents full access to online progress portals and pass important documentation digitally. Potentially saving weeks of waiting time!
Progress is all about us, and the leaders in any industry are embracing this tech boom. With instant valuation tools on our website, live chat, virtual tours and affiliation with hyper modern conveyancers selling your home as never been more exciting!
Various quotes and commentary taken from Professor Andrew Baum’s interview in the negotiator magazine Sept edition.