Considered the slow adopter of technology, real estate is fast catching up with other industries to embrace digitization. According to Govind Rai, Co-Founder, Insomniacs, “Modern technology is making property selling and buying even simpler. For example, CRM isbeing defined today by new, agile application interfaces that can be customized for each sales. We are entering the era of intelligent, integrated CRM, and the future is Cloud-based CRM.”
Amit Gehlot, Founder & CEO, Propertyexpo.com stated, “Metaverse is the next big thing, but before that blockchain is now allowing the automation of real estate transactions. The blockchain offers unparalleled speed and transparency in transactions. Blockchain and Metaverse will surely change real estate in India. Prakash Tejwani, CEO & Co-Founder, Career Socially added, “What excite us is artificial intelligence (AI) and machine learning (ML). We are using it to train our discovery and marketing automation platform which is embedded with a CRM right now so that we can broadcast personalised and precise information to potential buyers according to their social behaviour. We believe AI and ML will change the future of property sales and marketing.” Vivek Agarwal, Co-Founder & CTO Squareyards said, “We are into multiple segments of a real estate value chain starting from search and discover and brokerage to home loans and rental property management. Recently we have
ventured into data intelligence and VR. However. Home loans or mortgage segment integrated on the real estate brokerage platform is the next big thing as it assimilates
both fintech and proptech to provide all services from homes, to home loans in one place.”
NEW AREAS OF INVESTMENTS
Prakash Tejwani believes investing in a data science driven marketing platform, blockchain platform and community platform will see profitable results for the real estate companies. Amit Gehlot said video commerce is where realty consultants and aggregator will put their money as visual content attracts 300% more traffic for nurturing leads.Vivek Agarwal was of the view that companies who are using a combination of Proptech and Fintech to disrupt the transition model will have investors flocking to them. Govind Rai feels the property down payment segment is where he sees a huge play is going to happen. Where new age companies are providing home down payment assistance program offering interest free credit of the down payment amount to the home buyers.
THE NEXT STEP
The Proptech industry is on an upswing thanks to financial investments and emergence of new tech models and real estate platforms that keep appearing. Amit Gehlot
expressing his views on the new scenario said, “The next step for the tech industry in real estate is data mining. Extracting usable data from a larger set of raw data is a challenge the property professionals are facing.” Prakash Tejwani echoed the same sentiments, “Data is scattered and too much information creates a lot of confusion among the endconsumers so we need a good sense of data. We are using AI-powered proprietary algorithms and systems to predict intelligent outcomes with human verifications. I must say that the social data is a key ingredient during creation of a right audience recipe and to predict better.” Vivek Agarwal said, “Metaverse is something where your digital identity becomes more important than your physical identity or your digital assets are more valuablethan your physical assets. I foresee
this market going to platforms like Decentral and Sandbox where there is a huge customer traction and people are buying virtual properties.”
According to Govind Rai the next big step has to be taken in the mortgage domain where the fintech and proptech should combine for the down payment assistance to make home buying affordable.
Key Takeaways
=The D2C model in real estate is gaining ground.
= Video commerce is the big play now in property selling
= Blockchain is the future of property transactions.
= The next step will be to integrate property platforms with the financing tomake home buying easy
= Data mining has growing relevance in real estate
= Transactional marketplace for resale properties has huge opportunities
= Metaverse will see collaboration of the brokers with the developers creating digital assets for cities.
