The real estate industry is a hot spot for emerging technologies. Industry-specific technology, also known as PropTech, has the potential to revolutionize the industry and make it more efficient.
PropTech refers to all those emerging technologies that are designed for use in the property industry. In recent years, real estate professionals have been using these technologies to manage their operations in a more efficient way. These new tools have led to a new wave of innovation with businesses relying on them in order to stay competitive.
These innovations range from augmented reality experiences that can help with site selection all the way up to apps that automate tenant screening and rights management processes.
53% of startups are involved in the residential property segment, 38% are in the commercial sector. 9% are in retail.
69% of US-based PropTech companies are focused on B2B, 28% prefer B2C, and 3% have a mixed business approach.
The PropTech sector has grown 45% since 2014. In Europe alone. This is an indicator of how lucrative this space is and the importance of considering the need for technology to run it.
The key is to select the most important problems whose solution will significantly change the life of the target user. Thanks to such an approach, already at the stage of Discovery and Design, it will be possible to build a successful product on the market much faster. It is always worth asking yourself the question “what value does the feature give to our user? Is it worth the investment?”
Property management software is often used to simplify the task of managing properties. This includes tasks like budgeting, forecasting, reporting and analysis.
Property management software can also help with decision-making processes like asset allocation and capital planning. With the help of this software, property managers are able to provide better insights towards their clients so they are able to meet their needs accordingly.
IoT devices have been used in PropTech projects for a variety of purposes, from collecting data on urban planning to monitoring building maintenance.
In the future, as the IoT becomes more widespread and as we collect more data about how it can be applied to PropTech projects, there will be plenty more opportunities for developers and entrepreneurs.
Integrating a property management system with third-party apps and services can be a daunting task.
There are many steps that need to be done to complete an integration, such as developing technical specifications, identifying the right integrations to prioritize, and then building out the data fields or APIs necessary for each integration.
—
From the beginning, GMI was able to anticipate possible risks and interruptions. The design environment was adapted to our working mode and was simple enough for the product owner to meet his requirements and those of the development team.
Thanks to the great attention to the quality of the code, the project was delivered on time and there were no internal complications associated with the product development. However, there were external complications (service providers), which GMI helped to solve with us.
See Case Study
With the greatest pleasure and full responsibility, we recommend GMI as a professional contractor for web applications and CMS systems. We chose GMI primarily because they approached our inquiry very professionally. Very fluent contact at an early stage of talks announced that the implementation would be equally efficient and it actually was.
If there is an opportunity in the future to jointly implement another project, we will definitely use the services of GMI again.
See Case Study
I have worked with the GMI Group on many projects over the last 4 years. I have always been satisfied with the quality of the commissioned works, which were made by Mikołaj Lehman and his entire programming team.
GMI has unique skills to translate ideas into reality. They are very efficient, discreet and, above all, trustworthy.
See Case Study
