How technology is transforming the global real estate industry
Change is synonymous with innovation. It opens up new avenues and encourages the development of even better ideas. The same is applicable for the real estate industry. This area, like medicine and engineering, has grown into something unique, or rather, something smart. Since the outbreak of the global pandemic, the real estate business has been rapidly developing. With the recent market volatility, an increasing number of people have been seeking other ways to diversify their wealth, with real estate being one of the most appealing options. But what is even more interesting is that companies have embraced technology to redefine this century-old industry. Many startups have been formed to introduce innovative solutions that are reshaping how we perceive the entire real estate market. Even the name of the industry itself has changed to a certain extent. What was earlier known as ‘real estate companies,’ are now being coined as PropTech startups. In a nutshell, PropTech refers to real estate firms that offer technologically advanced goods or new business methods. Real estate entrepreneurs are redesigning and revolutionizing the entire sector by utilizing technological breakthroughs. Some real estate businesses aim to use technology to replace real estate agents, while others provide help through new and creative tools and services. Proptech startups provide a variety of real estate market solutions. Property search tools, unique buying solutions, new rental practices, selling options, as well as new concept agents and landlord solutions are all available. All of these provide customers with simple access to reviews, seasonal visuals, tools to grade the property’s infrastructure, and many other benefits. One thing is certain – real estate startups are a growing category of businesses that are revolutionizing the real estate industry. As a result, we must keep an eye on the most recent PropTech advances as well as the firms that are generating headlines.
From renting houses to purchasing offices, real estate firms have developed solutions that take full advantage of the industry’s digital change. As a result, we have compiled a list of industry innovators in the PropTech space.
SMART CITY LOCATING
Smart City Locating started in Dallas in 2013. Unlike many other startups across the globe, this one is privately owned and does not rely on investors. Smart City Locating uses a hyper-personalized method, sending customers individual lists of 4-8 flats that are tailored to their specific needs. Furthermore, Smart City Locating seeks out and negotiates the best property deals for its clients. The brand benefits from a tremendous word-of-mouth marketing strategy which accelerates its growth even further. With such a strong focus on the consumer and a great level of service, this real estate startup will undoubtedly expand.
Zumper is a PropTech startup that is revolutionizing the rental industry. Zumper has built North America’s largest rental platform, allowing customers to make renting an apartment as simple as booking a hotel room. In addition, their technology allows customers to be notified in real-time when a property that fulfills their needs is posted on the market. Zumper is one of the most popular rental platforms in the United States, with over 75 million customers per year. This real estate firm aspires to be the end-to-end marketplace for rental properties from start to finish.
The goal of this PropTech startup is to provide individuals all around the world with a better, simpler, and more personalized real estate experience. Their technological prowess is focused on delivering a robust search engine with greater pre-market property accessibility. Triplemint also provides smarter outcomes for their customers by employing predictive analytics to forecast industry trends, thus providing the best possible matches. For example, Triplemint uses machine learning to predict buyer and seller decisions, which adds to the value of their services. This real estate firm is essentially a software-powered real estate agency that makes it easier for consumers to buy, sell, and rent homes. Triplemint’s overall goal is to provide a smarter, easier, and more personalized real estate experience.
Fundrise is a PropTech startup that has pioneered the modern investment platform. Their platform, which includes an easy-to-use website and mobile app, makes property investing and administration easy and seamless. Using Fundrise’s dynamic asset updates, investors can conveniently track the performance of their portfolios and monitor properties around the country as they are bought, upgraded, and operated. This makes Fundrise one of the most intriguing real estate businesses to keep an eye on with a total asset transaction value of $5 billion or more to date. Their main goal is to leverage technology to make low-cost, high-quality, institutional real estate investments and possibilities accessible to everyone. Fundrise exemplifies openness by emphasizing its investor-first approach, which allows its real estate portfolio investors to become company shareholders. This also demonstrates a unique IPO model, which assists companies in reducing their reliance on external finance while also aligning their beliefs and interests with those of their investors.
Rentberry is reimagining the renting experience by making it entirely digital. All of the regular chores that are prevalent in the renting process are made contact-free by making it totally digital and automated. Rentberry allows you to complete the full leasing procedure, from inputting personal information to eSigning rental agreements. Rentberry is the world’s first closed-loop rental platform, making the renting process more transparent and efficient. You may also use Rentberry’s bespoke offer option, which will allow you to take virtual tours. Furthermore, they are digitizing the rent bargaining process by providing tenants with direct access to landlords. This method quickly eliminates the intermediary, making the entire process more easy and profitable for both sides. Finally, for each property, you can see proposals and the number of applications, making it easier for you to make an informed decision at a reasonable price. As a result, tenants are increasingly using Rentberry as their rental profile, complete with rental history, references, and personalized notes.
Roofstock makes it simple to invest in single-family houses. Their objective is to make investment real estate ownership more accessible, straightforward and cost-effective. Roofstock created a platform that allows anyone – from first-time investors to global asset managers – to analyze, purchase, and own residential investment properties. This can be done from any location on the planet. The real estate startup just crossed $4 billion in purchases as a result of such a daring approach. We can confidently assert that Roofstock is one of the world’s premier real estate investment marketplaces, having appeared on Forbes’ Fintech 50 list for three years in a row.
Bridgit is a construction industry workforce intelligence real estate business, on a mission to assist construction companies in maximizing revenues by deploying their personnel resources in a strategic and intelligent manner. This real estate startup is effectively becoming the construction industry’s go-to project and resource management tool. It enables you to strategically organize your workforce by utilizing prior project data to make smart staffing decisions, based on which, it presents you with project pipeline forecasts to assist you in putting together a winning team. Bridgit also assists you in determining which project positions are vacant and how to prioritize resource allocations. You will be able to examine your workforce utilization rates broken down by title, area, or any other labels. Bridgit’s workforce intelligence helps you turn your workforce data into meaningful insights, allowing you to make data-driven, strategic and tactical business choices.
EasyKnock is a real estate startup that makes the process of transferring residences easier. Their creative sale-leaseback model allows homeowners to sell their homes without needing to move out right away. The corporation purchases the home from their customers and allows them to remain as renters, giving them time and money to resolve their unique issues. In a nutshell, this allows tenants to take their time completing the purchase of their new property without the stress and strain of having to vacate and move into temporary housing. EasyKnock’s unique business model is attracting investors and customers alike, as the company has experienced extraordinary growth in both client acquisition and investment.
Established in the United Kingdom, Hubble is dedicated to configuring, delivering, and managing all of your workplace requirements in one location. Hubble strives to improve the way you do business, whether you need an office, choose to work in a coworking environment, or are working from home. Hubble works with you to identify the appropriate dedicated office space or headquarters for your company using their vast office search solution. They also take into account the needs of mobile teams who are more creative and adaptable. As a result, Hubble has hand-picked hundreds of the top coworking spaces for you to reserve at your leisure. Furthermore, Hubble is keeping an eye on the latest work-from-home trend. With the fantastic tests. Virtual experiences, and suggestions they have selected for this type of business, they will effortlessly assist you create the best work-from-home experience. As a result, Hubble is working hard to improve the way your team works, by focusing on the work environment, flexibility, experience, and technologies that will help you better understand your coworkers. More than 2,500 businesses, including Monzo, Citi Bank, Trustpilot, the NHS, and others, rely on Hubble’s revolutionary solution.
All of the PropTech startups on our list are using technology to disrupt the market and address multiple consumer problems of the real estate industry. These firms are creating new business models and rethinking the entire consumer journey, from renting to acquiring mortgages. We’re looking forward to seeing how their achievements inspire even more innovation in the real estate business.