Real Estate Investor Magazine South Africa April/ May 2020 | Page 6
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Impact of PropTech
on start-ups
Q
A T
At what stage does tech add
significant growth in my real
estate business?
BRIAN SANGO
Property Inspect
hese are indeed interesting times with a
number of new trends constantly emerging.
But as far as wealth creation goes, one common
term doing the rounds is certainly ‘side hustle’. This is a
phrase used to describe any other income generating
exercise or operation to supplement one’s primary
source of income. There are many ways in which this
is done but one common and effective way is through
property.
Now with the use of technology it is not only easier
for start-up property investors to get their operations
off the ground but to also ensure they are cost effective
and with good return on investment. Honestly, there
is no particular stage where technology plays a more
significant role as it is surely a necessity to guarantee
smooth progress.
With the use of technology, I can remotely explore or
view property opportunities by means of virtual tours
meaning my entire operation can be centralised. My
team can be scattered in different locations however we
can streamline communications through chat platforms
or virtual meetings rooms completing eradicating the
need for high travel expenses. Personally, I sold nearly
400 residential apartments in Johannesburg Inner City
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APRIL/MAY 2020 SA Real Estate Investor Magazine
before setting foot there as I basked in the Cape Town
sun and this would have been impossible without the
use of technology.
Essential marketing and valuation tools put all
necessary details in the palm of any potential investor
allowing them to make highly calculated decisions
around their wealth creation exercises. Tenant issue
reporting systems are also available when it comes
to the maintenance management for any property
investor which again ensures that the right information
is delivered to the right parties through automation thus
saving lots of time and minimising the need for physical
inspection or supervision.
In short, the right use of technology has a positive
impact and does encourage business growth whether
its business as a property investor or a service provider
within the property industry. All major aspects are
made run smoother such as communication, lead hunt,
property management, maintenance management, lease
administration and billing / invoicing. I would recommend
any aspiring property investor looking to grow their
operation to really read up on the PropTech tools we have
at the moment and see which best fits their business model
both from a cost and functionality perspective.