Why We Launched a Proptech Start-up Studio in Dallas Tx?
The word ‘Proptech’ came into existence in the late 1980s. In simplest terms, it refers to a technological platform combining ‘Property’ and ‘Technology’. The concept originated from the word ‘Fintech’, which revealed an evolutionary change in the field of online banking, crowd funding, and etc. Technological solutions have changed major sectors throughout the world like media, climate, infrastructure. These solutions have impacted the economy in many ways. With all these, there is one prevailing question: can technology reshape the existing visions for the real estate industry?
Why to go through all the tedious paperwork to get a mortgage and time investment to go look at a property? Why do we feel the need of a surveyor to measure the house or a building? What are the other available options? Why do we need to wait for months to secure a construction permit?
This is where proptech comes in to play. In truth, real estate accounts to half of the value of the world’s assets. That’s approximately 70 to 80% of our total life’s savings, making it the most important asset to day. A proptech is a technological solution that uses technological advancements to construct the real estate structure. Angelica Krystle Donati, a renowned proptech finder and real estate entrepreneur said that proptech can be anything ranging from simple software to a hardware solution to even basic construction or manufacturing products. There are four key components here: data driven analysis, shared economy, real estate fintech, and block chain. Alexa is a perfect example of proptech technology. With technological solutions, Alexa is able to provide services in the real estate sector. This is something that we are all aware of!
Suggestion: Addressing the New Wave of Real Estate Start-ups
How to Address the New Wave of Real Estate Start-Ups?
Science opened the gates for the prominent minds to create innovative systems. Proptech addresses and builds the key industrial areas for new start-ups who are looking out to advance in the industry. Below are various technologies under the umbrella of proptech technologies. They are independent but interconnected with each other.
Despite the figures and facts, it is very essential to acknowledge what proptech can do for start-ups. It’s imperative to urge every start-up to explore this field to help them expand their horizons. A hands-on experience and value thinking workshops can make much difference in one’s journey towards successful real estate business. The truth is, once you’re able to adjusted to the recent trends, the markets tend to adjust and follow suit.
This new wave can also be controlled in ways such that every single component of the real estate buy-and-sell property can be integrated into one central control system, say an app. This allows for a streamlined service and enables you to provide user-friendly automatic control system solutions via the tenants’ smartphone devices.
Forbes reported that property technology in the real estate industry accelerated by 1072% from 2015 to 2019. In 2020, almost 81% of companies in the real estate sector started using digital technologies in their business processes.
Is there Really a Need to Launch a Proptech Start-Up Studio?
Subjectively, Yes! We have a planned and a workable business model and we understand everything real estate. It is essential to build a link between a start-up venture and a start-up studio, and create that engagement. Our Bluelofts Lab’s start-up studio aims to provide start-ups with the required strategic and monetary support. This includes setting up your objectives, creating a strong team, launching the marketing, and monitoring the overall conceptualization. An early investment in the start-up studio will only accelerate the overall process and overcome the basic kickstart obstacles that every start up faces. This will also help with consistent growth, develop expertise, and reduce the initial risk factors.
Like any other businesses that start on multiple ideas, some of the ideas fail and some succeeds. You have the power to ensure that your ideas flourish, turn them into a new business success, and replicate the cycle without fail.
Ike Bams and John Williams are founders of Bluelofst Inc. They are a new generation of millennial real estate developers based in Dallas, Texas who aim to transform vacant office buildings to residential communities. Visit our website: www.Bluelofts.Io and learn more about Bluelofts Labs. Build your dream with us!
