We are excited to launch the inaugural session of “Proptech Power Talks”. We had with us industry expert, Peter Schravemade, Managing Partner at REACH Australia sharing valuable insights, highlighting key trends and challenges. REACH is a growth accelerator created by Second Century Ventures, an early-stage technology fund, backed by the National Association of REALTORS.

The real estate industry has undergone significant transformations over the past few decades, driven by technological advancements.

Let’s delve into the highlights of the Proptech Power Talks, Episode 1 with Peter:

Blockchain and Real Estate

Blockchain technology, known for its tamper-proof and decentralised nature, has immense potential in real estate. It ensures transparency, security, and trust in property transactions. Agents must grasp the fundamentals of blockchain and educate their clients about its benefits playing a crucial role to bridge the knowledge gap. Simplifying blockchain concepts and demonstrating how it streamlines property transactions can empower clients to embrace this transformative technology.

The Rise of Generative AI

Generative AI is gaining prominence, surpassing predictive analysis. Generative AI optimises tasks, enhances cost-efficiency, and improves property management. The distinction between generative AI and predictive analysis is blurring. As generative models evolve, they offer faster, more accurate insights. Real estate professionals should stay informed about these advancements.

Privacy Challenges in the Cloud Era

With the movement of data to the cloud, it provides easy accessibility but also exposes the data to cyber criminals. Real estate professionals must prioritise robust security measures like multi-factor authentication which normally are ignored because of the effort. Awareness about privacy risks are essential for agents and clients. Agents can play a key role in empowering clients by educating them about privacy risks and best practices. Identifying spam emails, recognizing phishing attempts, and implementing security measures are critical.

Integration and Ongoing Support

With rapid technological advancements, integrating every new software remains a challenge but it is important for real estate professionals to adapt swiftly. Investing in education and training for both agents and clients is crucial. Whereas innovations happen fast, customer support often lags and providing ongoing assistance ensures seamless adoption of new technologies.

Peter shed light on the Real estate in Australia which is more stable than in the U.S. and Europe as it is heavily regulated by the government. In Australia laws are more stringent and contracts explicitly address privacy and data protection concerns, and consumer protection is considered paramount.

Significance of events like the London PropTech Show: While virtual events have become common, in-person networking still remains irreplaceable. Building relationships face-to-face fosters trust and collaboration is an important part of networking. The London PropTech Show is the leading real estate tech events in Europe that brings the global real estate value chain under one roof to network with major industry players and identify numerous business opportunities in this hypercompetitive market. The previous editions witnessed the participation of 4000+ global attendees, 50+ media partners,  120+ outstanding speakers, 130+ exhibitors, and 1200+ participating companies including CBRE, ABB, JLL, City Of London, Homes England, Savills, Cushman & Wakefield, and more, etc. For more information, please visit www.proptechshow.com.

Watch full episode on our YouTube Channel now.

Stay tuned for the next episode where we will explore other aspects of PropTech.

PropTech Power Talks, for real estate agents, investors, or inquisitive minds. Connect, explore and get empowered!