The Proptech Guide: Everything You Need to Know about the Future of Real Estate - Softcover

Chandra, Lawin

Softcover

ISBN 10: 1916479618 ISBN 13: 9781916479616

Publisher: Proptech Asset Management, 2018

Synopsis

The PropTech Guide is designed to help real estate professionals face current and upcoming challenges in the industry through the use of real estate-focused technology, or PropTech. It provides hands-on and applicable solutions in the form of information about 222 companies providing PropTech to solve the everyday problems of market players.

• Real Estate Owners will learn how they might better manage and improve properties through new solutions from PropTech firms and sell their properties faster, and for a better price.
  
• Asset Managers will find solutions to increase the value of their buildings and the performance of their portfolios by reducing cost and time spent.
  
• Property Managers will learn about digital communication apps that allow their tenants to report issues using only a smart phone, and find solutions through interoperable software systems that reduce their workload.
  
• Real Estate Agents will find technological solutions to find new deals, clients, and markets in order to close transactions faster and more transparently.
  
• Facility Managers will understand how to increase their demand and revenue by using the newest technology, such as the Internet of things (IoT), Smart Homes, Smart Buildings, and Smart Cities.
  
• The Construction industry will learn about the latest in using Building Information Modelling (BIM). This book identifies those firms that are able to help companies become BIM ready and jump on the digital success ladder.
  
• PropTech and Blockchain start-ups will learn about the problems real estate participants encounter when using outdated methods to solve problems, and how these new digital- and technology-focused firms can find better solutions for the real estate industry.

Real Estate professionals and entrepreneurs will find this a priceless resource to uncovering new opportunities and maximizing their profit in this growing market. This inspirational book covers every main industry development in depth, complete with immediate understandings and solutions provided by specialists at the cutting edge. This main comprehensive volume on the global state of PropTech gives you a distinct competitive advantage.

Whether you are responding to disruption or wanting to profit from innovation The ProTech Guide is for you.

About this title

About the Author

Technology evangelist, author, and advocate, Lawin Chandra has real estate and financial expertise and is devoted to excelling in these fields. With many years of experience as a property investment and real estate asset management expert, Lawin is passionate about PropTech, Smart Buildings, Smart Cities, Building Information Modelling (BIM), and the future of construction. He spends much of his time speaking and writing about PropTech and advising businesses on innovation and digital transformation.

He has hands-on experience in developing digital strategies, driving innovation in in the real estate asset management industry, and is well versed in the disruptive effect of technology on the real estate investment world. As a means of helping others understand the complexities of the property industry, Lawin wrote and published The PropTech Guide, which showcases 222 innovative firms in PropTech in a single, informative volume.

From the Back Cover

The PropTech Guide is designed to help real estate professionals facecurrent and upcoming challenges in the industry using real estate-focusedtechnology, or PropTech.
It provides hands-on and applicable solutionsin the form of information about 222 companies providing innovative solutionsto solve the everyday problems of market players, including how:
· Real Estate Owners can better manage or improve properties, sell their propertiesfaster, and increase profits.
· Asset Managers can increase the value of their buildings by reducing cost andtime spent.
· Property Managers can use digital communication apps to better satisfy tenantsand reduce their workload.
· Real Estate Agents can find new deals, clients, and markets while closingtransactions faster.
· Construction industry operators can use Building Information Modelling (BIM) to land the best contracts andmanage projects more profitably.

From the Inside Flap

PropTech Solutions

PropTech is the abbreviation for property and technology and has been widely accepted as the synonym for the digitized and automation-focused transformation within the real estate industry.

So, even if it might never be possible practically, the ultimate aim should always be to try to replace all intermediaries with technology or digital solutions and make all software solutions compatible.

If you believe that this sounds a little bit like a utopian vision, just think about firms like HomeAway or Booking.com. A host in one part of the world advertises a property on a digital platform by answering standardized questions. The traveler or guest from a different part of the world searches for a property on the other part of the world by answering a similar questionnaire. An algorithm programmed by the developers of the platform matches the ideal fit.

This platform then replaces the host's broker and the guest's broker and the solicitors, as the deal follows the firm's terms and conditions. This strategy is possible because people are willing to use technology and travel globally.If you now say this is possible for structures that can be standardized and pre-programmed, but is more difficult in a world where every property and real estate transaction is different, I fully agree. Every new situation is different and must be re-thought and tackled in a unique way. Therefore, human intervention is needed, as we can think through a problem to find a solution and optimize that solution.

However, we have reached the time where we are able to envision self-driving cars, and Google already is using artificial intelligence. Self-driving cars need milliseconds to navigate new and unknown situations and can recalculate a solution in every millisecond.

Now that we have invented this kind of technology, we should also look for ways to use it in our real estate industry, even though it is making so much money that some think we do not need to experiment.

Let's face it, and be more honest with ourselves: at the moment, it seems like everything is going well and we do not need to make any changes. Hence, we will not make any changes, as it can be difficult to adapt to a new environment.

But don't be fooled. If you, as a real estate expert in your field, choose to not make any changes, recognize that someone else surely will make changes by trying to find a better solution to the same problems you face, and you might lose your job or competitive edge in the not-too-distant future.

This book is designed to help you face the current and upcoming challenges in the real estate industry globally, and provide hands-on and applicable solutions in the form of brief information about start-ups that are solving day-to-day problems and issues.

The PropTech industry is in its infancy, and we can expect several problems as it grows and matures.

In this book, I am questioning our need for all the intermediaries we use today, and posing this question:

Can it be done faster and more cheaply? In so doing, I will be focusing on the same three attributes throughout all stages of a property:

1. Transparency

2. Speed

3. Cost

By implementing newly available technological solutions that are providing greater transparency, and better, faster, and cheaper solutions, it will be possible for current real estate market players to increase profitability. This will allow them to be ready to fight the upcoming battles with new technology-focused players now entering the real-estate world who want to provide better solutions.

• For commercial real estate market players, this book will give a good overview of a number of firms that are solving problems that those market players must deal with every day, but may not have the time to research solutions for.
• Residential landlords and tenants will learn how professionals have dealt with daily property issues, and how they might use new solutions from PropTech firms, which cost often a fraction of what commercial real estate market players are paying. Landlords can learn about new ways to manage or improve their properties, and tenants can discover the benefits of applicable technological solutions that they can suggest to their landlords.
• PropTech participants find their opportunities by understanding the pain real estate participants encounter by using outdated methods to solve problems. These new digital- and technology-focused firms can find better solutions or customize their digital products and services to the property industry.

As this book covers all stages of the property lifecycle, I recommend you read through the book and then rethink the problems you are facing in, on, and around your property. Always refer back to the section that is most relevant. After you have read this book once, you will remember that there was a way to tackle the problem either faster, cheaper, or more efficiently.

Edition details

• Publisher: Proptech Asset Management
• Publication date: 2018
• Language: English
• ISBN 10: 1916479618
• ISBN 13: 9781916479616
• Binding: Paperback
• Number of pages: 190