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Tech for the Curious: PropTech
Words Sandra Edmund
PropTech pretty much means property technology, which is defined as the use of software and technology to help in today’s real estate.
PropTech, often known as "real estate technology," strives to improve asset management for property owners, landlords, and renters. In summary, PropTech aims to make owning, leasing, or working in a building easier and more efficient for everyone, whether it's through eliminating property management paperwork or simplifying tenant-landlord interactions.
Several other businesses have been transformed by technological advancements. Take a look at Uber, Airbnb, and other similar services. The same advantages — increased productivity, improved customer service, and simplified procedures — can and should be seen in the real estate business.
Traditional real estate is expensive, laborious, and lacks flexibility; however, with PropTech, organisations are attempting to overcome these challenges by incorporating a creative edge into each step of the process and revitalising current systems.
So there you have it, you all know a little bit more about PropTech and how it helps the real estate industry. It’s really interesting how Technology is changing the world as we know it and how it contributes a lot to our everyday life in the most unusual ways.