‘Prop-tech’ - the buzzword of the year?
‘Prop-tech’, an ever increasingly buzzword in the real estate industry. As the real estate technology world grows and tech start-ups are popping up globally, you have to ask the question, why?
There are larger real estate software firms who have been creating back-end software for residential realtors across the market for a while now. Are they getting outdated? Perhaps. Is the real estate market constantly changing to the demands of its customers? Absolutely.
Subsequently, tech startups are recognizing the changing landscape and are agile enough to innovate new technologies than the larger corporate SaaS firms who have longer processes. Technology research firm Venture Scanner outlined in 2016 a total of $5bn was raised in funding.
Having studied just under half a million real estate professionals for the last five years, RESAAS have identified who the ‘movers and the shakers’ of the industry are: those who are increasing their transaction volumes per year, number of agents per year and ultimately making some serious money. How are they doing this? By adopting new technology.
PWC’s ‘Emerging Trends in Real Estate 2017’ notes, “real estate firms must take significant steps to adapt to customers’ growing tech needs or risk falling behind”.
RESAAS’ communication tool for brokerages, BrokerOS aims to empower real estate professionals to encourage collaboration amongst their agents. It plugs into the wider RESAAS network to push listings out to just under half a million agents across the globe but ultimately focuses on sharing deals on geographically spread agents within brokerages.
BrokerOS is creating a new space for agents of a brokerage to share valuable leads that typically were only brought up at in person sales meetings; such as pre-market, exclusive and coming soon listings. While many brokerages have relied on social media or Whatsapp to share this information with their team, most are finding they get overcrowded and information simply gets lost. With BrokerOS, agents can easily search for the specific type of lead or listings they are interested in.
Benefits of BrokerOS also includes instant messaging amongst a brokerage’s agents, sharing referrals and leads, creating and searching listings, posting announcements and document storage all in the cloud. It’s the solution to unifying your agents, increasing transaction levels and driving profits.