Real Estate Investor Magazine South Africa April/ May 2020 | Page 6

Direct your property investment question to [email protected], go to our Facebook page or participate in our regular Facebook LIVE interviews to ask your questions 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 4 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.