Our CEO and founder Russell Quirk recently chatted PropTech with SmartUp CEO Frank Meehan for online publication Medium.
The term “PropTech” is becoming more familiar as the online property sector grows, and as technology is becoming a more prevalent force across the industry. Despite this, its influence continues to be undervalued.
Russell launched eMoov in 2010 to create a new and improved breed of estate agents that blends technology with the familiarity of the people in the traditional estate agency sector.
What separates eMoov in this evolving sector from the rest is that we created our own platform called HERO2. It empowers customers to manage their listing 24/7, allows for a drop in servicing costs and helps to collect data, all the while still having people both online and on the phones to advise customers throughout their entire journey to sale completion.
In Medium’s article, Russell and Frank discuss the following topics:
Lack of Commercial Portal
The commercial property market has yet to see a shift towards technology, but will likely need to be more specialised and sophisticated than the residential portals.
“Will technology disrupt residential and commercial equally over the next 10 years? Undoubtedly, yes.”
What Sets the New Wave of Agents Apart from the Old?
Technology is the future of the estate agency business, but people are still a crucial factor and finding the correct balance is the challenge.
“Technology is grossly underestimated in the property industry, right now.”
How Can Property Giants Keep Up?
It takes time to build a platform and train staff to use towards technology, therefore, other estate agencies are behind if they haven’t already started this shift.
The Online Share of the Market & Where It’s Going
The online sector makes up 6% of the market, however it is a growing industry and will only continue to expand.
Why Data is so Important to the Property Sector?
Data is a key factor in helping to build technology and understand how customers are looking to use it in the property sector.
The PropTech Problem Silos
Collaboration between different areas in the property sector will only make it stronger.
What’s Next for the Sector?
“AI will be the Big Thing. I think the future of property is much more machine learning than virtual-aesthetic.”