Under All is Land

The future of Real Estate is upon us regardless if we are ready or not. COVID-19 has impacted our world and nothing hasn’t been overturned. Real Estate Technology better known as (RETECH) or (PropTech) has been slowly growing in the last ten years but 2020 may be the opportunistic time for its exposure. Like banking peer to peer lending, property technology will peak the interest of those who are savvy in their field of expertise in real estate. To solve some of the problems with commercial real estate, technology aims to reduce the clunkiness of manual delay, paper formalities and extended due diligence and contract transactions. Most would agree, it is time consuming.

Real Estate is an important sector and it makes up more than 6.2% of the U.S. economy. Professionals and their clients will have to decide a perspective on the power of tech. If not considered, it can lend to a Polaroid obsolete experience. Zillow, Trulia and Redfin are startups that are disrupting this space gradually with sight unseen and paperless online transactions. The Big 5 are eyeing this space as well. Google, Apple, Microsoft, Facebook and Amazon have the platforms and the edge of already understanding the buyer and seller. Besides, mega Data Centers are here to stay. Developers and Investors are desiring an edge in buying, selling and managing. Technology will attract the leaders to this tech edge out of necessity. Like Uber shook up the Taxi businesses and AirBnB to lodging, RETech will too. Shared work space are also disrupting the office market. Coworking office space is the new phenomena with several locations springing up here is Charleston, SC.

The Real Estate sector has lagged innovation and the interest is high in changing a long format business. The opportunity to explore or take part is here. Venture Capitalist for 2020 is pouring capital into this industry. Proptech startups will accelerate. The areas to keep your eyes peeled for are RE Management, Construction, Commercial Real Estate and self-leasing. The affect of COVID-19 is a tragedy in many regards but possibly a blessing in others. Integration of Tech into Real Estate is the vaccine to overcome today and tomorrow’s real estate challenges.

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