Over the past decade, new technologies have changed the landscape of real estate and construction for good. PropTech software was born as a new segment in Software-as-a-Service (SaaS), aiming to optimize the operations within the real estate industry in many different ways.
But what does the landscape of PropTech software look like today, and what does the future hold for the sector?
We interviewed 70 industry experts worldwide, from founders to product leaders, and mapped the current state of PropTech software. Specifically, we investigated the role data plays in their innovation efforts.
Want to kickstart innovation for your PropTech software? Get access to the full PropTech trend report.
Real estate professionals want data-driven insights to make confident decisions. But many of them complain about the way PropTech software presents these insights. In 2022, +700 online user reviews exposed that PropTech analytics are either too difficult to use, or don’t focus on the insight they need.
During our research, we asked PropTech experts how they currently handle reporting and analytics for customers, and what they consider the biggest challenges.
Our PropTech report bundles a wealth of insights from interviewing 70 experts. Want a sneak preview? Read some of the highlights below!
PropTech companies are faced with growth challenges. Awareness and lead gen (17%) and improving their business models (17%) are the top challenges.
Economic downturn has shifted product priorities for PropTech. 35% will sharpen focus on further expanding and improving their core product.
Beyond improving the core product, 29% reports that improved insights is a top product priority in 2023. In addition, 70% of PropTech companies say they are offering data insights to customers in some shape or form.
A striking 75% have created dashboards or reporting tools in-house to unlock insights for their product users. Most PropTech companies have not found their way to plug-and-play tools for client-facing analytics.
Many companies still offer insights on an ad-hoc basis through PDFs, Excel or quarterly business reviews. Only 20% have added analytics as a capability inside their main application.
The main reason for investing in data and analytics is to add value for customers and help them make data-driven decisions. 63% exposes transactional metrics to steer decision-making, while 23% also exposes performance data for operational or cost-efficiency purposes.
In the full research report, you’ll access expert views on various topics. Uncover new trends to stay ahead of new innovations.
Get access to exclusive statistics and findings from our study. Grab your free copy of the full report below!
3D Estate, Altrio, Anewgo, Attentive, Assetti, Biproxi, Commz, Constructo, Foyer, Greenly, Homeshake, Hostaway, KeyPleaz, Migrate, Nester, Property Meld, Realeflow, ReUp, ShowingTeam, Tweaq, Wattsense, Zuma, and more!