Proptech in the Present: Where Are We Now?

Written by Steve Todd in News,Technology

The pandemic has caused activities to move online: we shop, buy food, conduct classes, and meet friends and work colleagues alike online. Property management has been no exception, and property technology or proptech has only helped in providing solutions.

While the term ‘proptechOpens in a new tab.’ may sound foreign, the reality is that we have transacted with these one way or another. Think of the last holiday you had. You probably consulted Airbnb, if not booked a place through them. 

‘Proptech’ refers to any kind of technology developed for the property industry, with the goal of improving both proprietor and renter experiences. In this particular case, the proprietor is able to virtually exhibit their property for rent while the renter is able to look for properties that match their necessities on the same website. The website allowing a seamless interaction, with neither party having to step outside their houses, is an example of proptech applied.

However, this is only one possible application. Even with the movement to the online space, proptech still has other, unexplored applications. Read on to find out how it is relevant to us, and how it can be helpful given our present situation.

Proptech in the Present

Recently, start-up company Knock raised $20MOpens in a new tab. to grow their Software-as-a-Service (SaaS) platform for property managers. They spoke with property management companies and saw that there is a gap to be filled in the technological capabilities of property management companies. They are looking to offer customer relations management (CRM) tools to be able to link proprietors and renters more seamlessly. 

As with other service providers in the proptech marketOpens in a new tab., the goal is to facilitate communication between two parties. Browsing rentals and being able to communicate with the proprietor without having to step out of your house is a huge benefit, as it eliminates the risk of contracting COVID while house-browsing. This also benefits the proprietor, as there is no longer any need for a house visit. They just need to show photos of their property and be prepared for any concern that may arise. This is also less costly, as every house visit would mean thorough disinfection of the property prior to and after.

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Proptech in the Workplace

While proptech seems to focus on how to maximize property sales or leases, because of the present situation, its use has even expanded to the workplace. Aakash Ravi, co-founder and Chief Growth Officer of Spaceti, talks about how their technologyOpens in a new tab. with the initial goal of optimizing real estate is now being used to promote a safe return to the physical workplace.

Their company offers a workplace management systemOpens in a new tab. service that ensures the proper allocation of space in the workplace. They provide layouts such that the well-being of workers is prioritized in the physical office while still ensuring a minimal spread of the virus.

Proptech in the Future

The previous items are only examples of how proptech is useful in the present. We also see artificial intelligence proptech used in remote real estate evaluationOpens in a new tab., where an algorithm is used to evaluate properties without needing to actually be in the property’s location. There are also other proptech trendsOpens in a new tab. projected for this year, such as:

– Data-driven decisions and solutions

– Real-time property data

– Improvement of customer service and relations

You might want to visit this webpageOpens in a new tab. if you are interested in learning more about proptech and its uses. Learn more about it, and see just how much potential it has!

Emerging PropTech You Need to Know

Emerging technologies for the post-pandemic workspace are continuously evolving, providing solutions for all kinds of problems.  The majority of these solutions focus on digitization, as well as touchless and seamless integration with existing systems.  Check out our guide to emerging techOpens in a new tab. and the companies you need to know.

Here is a quick go-to reference list:

Distributed Workspace Booking

DesanaOpens in a new tab., DeskpassOpens in a new tab., LiquidspaceOpens in a new tab., WeWorkOpens in a new tab., SpacentOpens in a new tab., Open Sourced WorkplaceOpens in a new tab., and Meetings BookerOpens in a new tab.

Location Analytics for Site Selection

EsriOpens in a new tab., EmsiOpens in a new tab., and BeyondHQOpens in a new tab.

Remote Construction Management

FieldwireOpens in a new tab., OpenSpaceOpens in a new tab., ReconstructOpens in a new tab., and WakeCapOpens in a new tab.

Virtual Space Planning and Touring

SaltmineOpens in a new tab. and TheWildOpens in a new tab.

Access Control and Sanitation

ProxyclickOpens in a new tab., ProxyOpens in a new tab., SwiftCTRLOpens in a new tab., and HungerBoxOpens in a new tab.

Plasma AirOpens in a new tab., Atmos AirOpens in a new tab., HEPACartOpens in a new tab., CleantelligentOpens in a new tab., AclaimantOpens in a new tab., and NanosepticOpens in a new tab.

Remote Inventory Management

FirstbaseHQOpens in a new tab.

Contact Tracing

ProxfinityOpens in a new tab., ClearMeOpens in a new tab., AppianOpens in a new tab., and PWCOpens in a new tab.

Employee Commute

LyftOpens in a new tab. and UberOpens in a new tab.

Employee Experience

Leesman IndexOpens in a new tab., CohesionibOpens in a new tab., The CX AppOpens in a new tab., ComfyAppOpens in a new tab., ModoLabsOpens in a new tab., JLLOpens in a new tab., Cushman WakefieldOpens in a new tab., and HostOpens in a new tab.

IoT Monitoring

EquipIDOpens in a new tab., DensityOpens in a new tab., VergeSenseOpens in a new tab., and RigadoOpens in a new tab.

Space Management 

SpacetiOpens in a new tab., PangeamOpens in a new tab., AvuityOpens in a new tab., MapticianOpens in a new tab., IOfficeOpens in a new tab., Condeco SoftwareOpens in a new tab., SpaceIQOpens in a new tab., FreespaceOpens in a new tab., SpacewellOpens in a new tab., OfficeSpaceOpens in a new tab., and GoSpaceOpens in a new tab.

Virtual Meetings

VirbelaOpens in a new tab., ConveneOpens in a new tab., and Facebook Infinite OfficeOpens in a new tab..

What are your thoughts on proptech and emerging tech companies are you watching?

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Steve Todd

Steve Todd, founder of Open Sourced Workplace and is a recognized thought leader in workplace strategy and the future of work. With a passion for work from anywhere, Steve has successfully implemented transformative strategies that enhance productivity and employee satisfaction. Through Open Sourced Workplace, he fosters collaboration among HR, facilities management, technology, and real estate professionals, providing valuable insights and resources. As a speaker and contributor to various publications, Steve remains dedicated to staying at the forefront of workplace innovation, helping organizations thrive in today's dynamic work environment.

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