Real Estate Investor Magazine South Africa Real Estate Investor Magazine - July 2017 | Page 29

affect users and customers but also, critically,
service providers and professionals. In much
the same way that the food, hospitality, and
transport industries have been forced to
adjust, so too the property world has begun a
dramatic transformation. Tech startups are no
longer limited to messenger apps or gaming.
While these are still very much growing and
expanding, the world of property has started
to realise that these technologies – new and
existing – can be used in innovative new ways.
Think outside the box
In order to develop a new app or software for any
form of technology, you need sufficient backing
or funding. A particularly prominent example
of this is European based Property Innovation
Labs (Pi Labs). Having seen the gap in the
property market for new technology, Pi Labs
decided to invest in early-st age development
of industry-altering software and ideas. Many
of these may seem unrealistic in the South
African landscape, but they prove that there is
a market for new ideas and fresh approaches.
Standout trends in proptech
Possibilities for new ideas are truly endless.
What we can surmise, however, is that
transparency, convenience, communication,
and accessibility are determining factors in
whether or not an idea takes off. Here are some
examples of the most exciting new names in the
property tech industry:
Hubble
The rise of co-working and office sharing has
lead to an overwhelming demand from start-
up companies to find suitable office space. This
London-based company serves as a platform
where those with office space and those seeking
it can connect. Shifting the focus from merely
renting a space to also matching the types of
people that work together, this may just be the
solution the modern professional is looking for.
operated online, this UK-based company
highlights an interesting opportunity for the
South African property market.
Matterport 3D Showcase
Virtual Reality (VR) may not be groundbreaking
anymore, but its use in the property world has
been fairly limited. Recently, however, more and
more people are beginning to see the benefits
of using VR for showing houses to prospective
buyers. Creating a more immersive experience,
sellers are able to showcase their properties in
a way that’s much more likely to lead to a sale.
A forerunner in the South African market is
Niche VR 3D Showcase Tours, powered by
Matterport. Simple to implement, it promises
a new age in the property landscape.
Propoly
An online platform aimed at tenants and
landlords, Propoly removes the need for a
middleman in the letting process. Arrange
viewings, generate reference checks, pay
deposits, and send direct messages for enquiries.
Land Insight
This nifty online tool makes the search for
suitable land a whole lot easier. Integrating
traditional maps with added layers of
information, the user is able to learn about
the opportunities or potential of a property.
Offering users data on the surrounding
buildings, the planning history of the land,
along with prices of similar properties. Armed
with this information, you’re able to choose the
perfect spot on which to develop or build your
property.
As more and more younger and tech-savvy
buyers move onto the property ladder, the
need for new ideas and revised applications
of old ones becomes apparent. With the rapid
development of technology worldwide, it is only
a matter of time before the property industry
looks entirely different.
Nested
An interesting concept, Nested offers
users a comprehensive estate agent service.
Guaranteeing to sell your property within
90 days of a valuation, they are willing
to put their money where their mouth is.
If a property hasn’t sold within this time-
frame, Nested pays the seller the cash. Largely
RESOURCES
Hubble, Nested, Niche,
Matterport, Propoly, ExpoReal,
Land Insight, Pi, Huffington Post,
ProvidensAI, TechWorld, The
Telegraph, FinTech Ranking.
JULY 2017 SA Real Estate Investor
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