PropTech Software Development

What is PropTech?

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.

Why you should build a PropTech product

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.

PropTech Software Development Steps

Empathizing

  • Defining and understanding the participants and roles in the product being created – in the development process and in the target solution
  • Defining and understanding the end user

Problem definition

  • Defining the problem that exists in the market for a given user profile
  • Frame your problem statement according to specific users

Ideation

  • User story mapping. Defining the Product Backlog (scope of work) with the help of User Stories describing the processes
  • Sketches (low fidelity) presenting the user flow in the application
  • Definition of processes interacting with other modules

Building prototypes

  • High fidelity wireframes visualizing the graphical interface
  • Extending mockups with a clickable prototype
  • Database structure. Database model describing table and field structure

UI/UX Product Design

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?”

Software building – Development stage

Currently, most solutions are designed in the mobile-first model, while assuming that the main device through which users will use the application will be a phone. Technologies available on the market nowadays enable very fast creation of cross-platform solutions, thanks to that while creating a mobile application we can prepare it to work on Android and iOS devices. If our MedTech solution will be used also on a computer, in a browser, it is worth considering creating a Progressive Web App (PWA).
Whether we build a mobile app or a web app, in order to use the server connection, we need to build a server app that is responsible for processing data and communicating with the other services.
Frontend application is simply what we see on our computer or phone screens - graphical interface. One of the parts of building software is to create front-end layer, which in communication with server application (backend) will display data to user and will allow to interact with whole system.

Our Proptech Software Development Services

Property management

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.

Internet of Things in PropTech

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.

Third-party Integrations

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.

Start working on your PropTech App right away!

     
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    They recommend us

    Budlex Proptech

    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

    Coders Lab

    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

    Q2 Smart Lockers

    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

    List of tools that we use for PropTech software development

    Technologies we use