The term property tech has started to become quite fashionable recently. It refers to the phenomenon of technology revolutionising the property industry. While estate agents have been using bespoke software to manage property for a number of years, other sectors of the industry have been left untouched by arguably the greatest societal phenomenon of our time – the use of technology to manage every aspect of our lives
From our social lives to our work lives, technology has seeped into every fabric of our existence, so why not in the management of our homes? In our experience of launching iproperty log we knew we had a huge gap to fill in the market. The property sector burdened with slow, arduous processes and heaps of paperwork had been immune to technology. With the advent of smart phones we are used to having everything in our phones so why not manage our properties from that same medium?
The key explanation for why the property sector has remained outdated tends to be psychological rather than for any practical reason. We as human beings are often afraid of change and given that the property sector is filled with companies who have built a reputation for generations many are afraid to try something new. This is a natural reaction and a challenge we at iproperty log knew we had to tackle in our marketing strategy.
Our software creates electronic logbooks for our customers meaning that they have pictures and documentation related to everything in their property. From pictures of their kitchen, to one of their stopcock and a files section to store tenancy agreements and energy certificates. Our software was also a great property maintenance tool as tradesmen could log properties for their customers and put themselves in the emergency contacts section. Once notified to a task they could see a problem or fault on the app before they even arrived at a property. These two aspects of our app were truly unique and revolutionary, however, initially the reception to our idea was hesitant, people loved the idea but were scared to roll it out.
We understood this and realised the way to allay people’s fears was to offer a really personal customer service. While it was never an issue for users logging one property or a small portfolio, for businesses that wanted to use iproperty log to manage hundreds if not thousands of units the change seemed like much more of a gamble. So by offering round the clock help and advice we slowly got more and more companies on board and have experienced for ourselves the power of the property tech revolution.
Startups.co.uk have labelled prop tech the latest emerging technology sector along, claiming that the sector combines the latest technology with the “rather outdated property sector” to eliminate the “traditional headaches” associated with the property industry. Nicholas Russel Ceo and founder of We Are Pop Up told techcity that the power of property tech lies in its simple yet powerful ability to give people the chance to do something today that they couldn’t do yesterday.
A number of companies now exist in this niche industry: Hubble, ipropertylog, Arthur online, Land technologies and fixflo. However, it’s important for all of us in the tech sector to remember that customers may be hesitant and cautious when rolling out new technology, whether it simply be for their own home or a huge portfolio. It is of paramount importance that all of us in this industry provide a personal, round the clock service to our customers to make sure that we build on this truly innovative revolution we have all started.