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PropTech: New era of Real Estate agencies or just another competitor?

PropTech: New era of Real Estate agencies or just another competitor?

Source: Entralon
Only a couple years ago just a few people could say what PropTech was. Today it’s appeared to be an essential and even compulsory part of any start-up in Real Estate.

Moreover, PropTech seems to become an independent and very attractive industry to entrepreneurs born to develop the overall Real Estate market. Online property agency services, professional property development and management, smart home solutions have already come to our everyday life. Is it all PropTech or not? Let’s try to find the right answer.

The property data related projects called PropTech include smart-city and smart-home solutions, AI-powered market analysis and decision-making, automotive services and remote operations, online international property transactions and not only these. Basically, it is a combination of innovative products and fresh ideas in the world of Real Estate to bring it on your mobile phone screen and minimise personal interactions. Smart, digital, remote and automotive processes in buying, renting, maintaining and managing properties and development projects.

PropTech products are often combined with FinTech and ConTech solutions to deliver powerful tools and comprehensive services for professional and private users.

The investment in PropTech companies worldwide has been steadily rising since 2011. We expect a new record in overall volume of investments in PropTech in 2021. The Center for Real Estate Technology & Innovation (CRETI) estimates the amount of money venture capital so far invested in the PropTech start-ups as $23.8 billion.

So, what's the difference between classical Real Estate agencies and PropTech companies?

PropTech entrepreneurs have made a significant effort to replace traditional property agencies. As a priority, they provide users with innovative solutions to deal with post-pandemic challenges and changes in the Real Estate landscape on both the commercial and residential sides.
The focus of the PropTech companies is the same as for the digital transformation - high quality life, customers’ satisfaction and core business processes improvements and optimisations.

Entralon Real Estate Company takes its initial steps on the PropTech market as a first-generation company. We have created a solution using property, financial, legal, and technological expertise to solve the current and future market requirements with entralon.com digital marketplace and game-changing online platform.

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