Real Estate Investor Magazine South Africa Real Estate Investor Magazine - July 2017 | Page 28

TECH
Reimagining
the World of Property
BY MONIQUE DU TOIT
A
few years ago, the term “Property Tech”
began popping up around every corner. Few
could imagine the strides to be made in the
technology world within the past 10 years. If you had
asked an estate agent about the use of technology in
selling property in the year 2007, chances are you’d be
met by a blank stare.
Humble beginnings
In its base form, proptech emerged as a solution to
a problem people didn’t know they had: access to
property services in a convenient and easy-to-use
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JULY 2017 SA Real Estate Investor
package. Online platforms and mobile apps had
revolutionised how the world viewed “simple”. It was
no longer acceptable to make your way to a store to
buy food or clothes: just order it online (and hope for
free next-day delivery). Travel agencies had become
relatively redundant to many people, with countless
online booking sites like AirBnB a few clicks away.
The lack of reliable public transport in many cities was
addressed by ride-hail giants like Uber and Lyft.
In what seemed like the blink of an eye, the world
became accustomed to having relevant information
and services at their fingertips. This change didn’t just
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