PROPTECH
Tech infused Real Estate
Changing the world through Technology
Jessica Davies
The real estate industry has been battling with digital transformation for more than five years , fighting back and forth to be in the same level as other industries like the business and automotive industry . This is now becoming a thing of the past , and thanks to many inventors , and covid19 .
The pandemic has done many awful things to the people of the world , the economies of the world and ultimately the stability of businesses . However this pandemic has propelled the growth of digitalisation in many industries including the real estate .
For businesses and industries that were able to work remotely , it was mostly business as usual in unusual times . Unfortunately , there were several sectors , such as construction and real estate , that came to a grinding halt . While no one could ’ ve predicted a global pandemic , Covid-19 has forced many businesses to think differently than before and to plan for a new tomorrow . The adoption of technology is no longer a mere consideration , now , but a must-have .
In the real estate sector , many companies were already investigating the implementation of technology in their operations . However , the impact of Covid-19 pushed organisations to consider how they can run a business remotely , transact online , monitor progress and share information – especially when there are various restrictions in place .
Proptech & Fintech Solutions The implementation of technology strikes fear into the hearts of many companies . There ’ s a preconceived notion that it ’ ll be a costly , prolonged and difficult exercise that might lead to bigger headaches down the line .
The way in which technology has evolved , however , means there are already solutions developed to meet specific needs and business requirements . As an example , real estate platforms can plug into Nedbank ’ s API Marketplace – which exposes our financial capabilities to third
16 APRIL 2021 SA Real Estate Investor Magazine