CEO and owner of CenCorp Ryan Mahoney (Dubai, UAE) co-founded the UAE’s largest agency-owned real estate website in 2020. This article will look at PropTech and how it can help industry players work smarter and improve their bottom line.
With technology playing an ever-increasing role in the real estate market today, the benefits are easy to see in terms of reducing admin time, ensuring teams remain productive, and improving efficiencies.
From artificial intelligence and the Internet of things to virtual reality, PropTech trends are reforming the agency model as they become entrenched in daily routines for real estate agents all over the world.
Nevertheless, integrating software, products, and services is not always a seamless process, often culminating in frustrations and holdups on all sides. It is therefore crucial for realtors to partner with the right tech providers, ensuring that every member of staff has the training necessary to leverage these new technologies and digital tools and use them to their fullest potential.
It is one thing to integrate PropTech into a business but quite another to train every member of the team to use it to its fullest. From the director to the most junior staff member, everyone must be fully onboarded with the product, although there does need to be a hierarchy when it comes to the implementation of new technology.
A primary employee must be appointed to take sole responsibility for PropTech within the organization, making informed decisions and delegating tasks where appropriate. All leads should be funnelled through this primary employee to help minimize disruption to the business. In addition, ensuring a second member of staff has a comprehensive grasp of the system is also a sensible step, providing a backup if the primary employee is unavailable. However, bringing the entire team up to speed is crucial in terms of ensuring the organization remains operational and productive should the first and second employees be otherwise engaged.
The way people interact with each other as human beings has changed dramatically since the pandemic. In a time when face-to-face contact was cut to a bare minimum, digitization accelerated at an unprecedented rate, forcing swathes of the population to place their trust in technology.
Over the last two years, real estate agents have had to adapt and react quickly, investing in technology to remain relevant. With 85% of adults heading online first to conduct research before making buying decisions according to the UK Office for National Statistics, agents must harness the power of PropTech, enabling them to leverage the latest technological advancements and resulting efficiencies while satiating the customer’s need for human interaction.
