The Proptech market has recently taken on a new dimension and has become particularly dynamic.
The amount of funds invested in Proptech startups has risen from 400 million to 20 billion in less than 5 years, and there are now more than 6,000 Proptech startups worldwide.
Proptech has opened up the real estate market to both professionals and buyers. Digital platforms and online marketplaces have reduced barriers to entry, allowing new professionals such as real estate agents, property managers, and mortgage brokers to establish their presence and connect with potential clients.
The development of new CRMs, digital analysis and virtual reality tools, or online deal-closing platforms have even enabled new professionals to get started.
In the US, for example, the number of licensed realtors has risen from 1 million in 2011 to 1.56 million in 2021. New professionals can now enter the market without the need for extensive networks or affiliations. Traditionally, the real estate market is often dominated by large groups or agency networks, but the development of Proptech has opened the door to more independent players.
On the other hand, the development of Proptech has also enabled millions of people who once saw real estate investment as a sweet dream to become micro-investors, thanks to real estate tokenization. Customers also have easier access to property listings, market information, and property-related services.
The development of Proptech has also generated significant productivity gains for companies, landlords and tenants. Multiple platforms have emerged to help automate and streamline the rental property management process. Agents’ day-to-day work has also been simplified thanks to artificial intelligence and data cross-referencing tools.
The real estate market is now open to all, and easy to use. Proptech has made democratization and disintermediation possible.
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