The Swedish government makes good use of real estate technology (PropTech) to save 100 million euros every year
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If you often pay attention to relevant developments in the real estate industry at home and abroad, you may have seen the popular term “[property technology] (https://propertytech.co/)” (PropTech) in the media, right?
At this spring’s PropTech Pitch 2017 conference in Cologne, Germany, thirty real estate technology companies from around the world presented their innovative business models to a broad audience of consumers, real estate investors, real estate managers, angel investors, and venture capitalists. Among them, six companies were nominated for the 2017 Real Estate Innovation Award.
Looking back at the development of the global real estate industry, we can know that this is a very large-scale asset among all human beings. Because this industry is relatively traditional and not easy to accept changes, real estate is also regarded by the outside world as an industry that is relatively late to adopt technological changes and information innovation.
Real estate is a traditional industry and is generally regarded as an industry that is late to adopt technological changes.
Popularize personal computers and promote real estate technology 1.0
In 1982, the independent Property Market Analysis Agency (PMA) was established in London to conduct professional research on property development and sales. The United States also used large computers for calculations and launched the Commercial Real Estate Index (NCREIF). Autodesk, Inc. also launched AutoCAD software in the same year, allowing many construction companies around the world to use computers to assist in the design of architectural works, greatly improving production efficiency. In 1987, Prudential Financial Group established the first property research team on both sides of the Atlantic in London, England, and New York, the United States. The secret weapon behind it was of course its powerful computer computing power.
With the popularization of personal computers and the subsequent Internet wave, the development of “Property Technology 1.0” (PropTech 1.0) has been rapidly promoted, and the real estate industry has entered a rational and scientific era guided by data analysis. After entering the 21st century, with the advent of the mobile computing era, through e-commerce, social networks, open source software and cross-platform technologies, the real estate industry has also ushered in the spring of “Property Technology 2.0” (PropTech 2.0).
Free technology to promote real estate online marketing
We have seen that Amazon, the global e-commerce giant, has promoted the business revolution and helped many manufacturers do business online. Facebook has also used the power of interpersonal communities to create a network system whose scale and global influence exceed the capabilities of any real estate agent.
Amazon has promoted the business revolution and helped many manufacturers do business online.
The proliferation of open source software now allows many manufacturers to use previously expensive technical solutions at a low budget or even for free. Impacted by these new technological civilizations, industry professionals have begun to think about how to market real estate through the Internet.
Blockchain evolution cross-border management
As we enter 2017, the real estate industry has also entered a new era of “Property Technology 3.0” (PropTech 3.0). Nowadays, real estate is not only sold through the Internet. Blockchain technology, which is currently popular, can also be used in integration, investment and financing, and asset management.
The Swedish Bureau records real estate transactions through blockchain, allowing Swedish taxpayers to save money.
Take the Swedish Land Registry as an example. They have been recording real estate transactions through blockchain since June 2016, which is expected to save Swedish taxpayers more than 100 million euros every year. These are also the application areas of “Real Estate Technology 3.0”. With the help of artificial intelligence technology, people in the real estate industry can obtain more information about potential customers, and can understand consumers’ various preferences and purchasing behaviors through data interpretation.
From blockchain to artificial intelligence, leveraging the power of information technology not only brings a new look to this traditional industry, but also allows people to conduct real estate transactions more conveniently, which is also the greatest value of real estate technology.
★ Photo Credit: Hernan Lucio
★ Article source: This article was originally published in “[TuiTuiFang](https://www.tui2house.com/%E7%91%9E%E5%85%B8%E7%B4%8D%E7%A8%85%E4%BA%BA%E7%94%A8______%E8%A8%98%E9%8C%84 Website
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