Hesitance to embrace PropTech leaves real estate investors vulnerable
KPMG report recommends ways to embrace PropTech trends
Real estate investors not already embracing PropTech technologies like location analytics and human mobility data may be at-risk in today’s market, according to a new report by KPMG.
“Historically, it's been a conservative industry, but companies can no longer afford a wait-and-see approach. If you're not already embracing digital technology and leveraging data, you run the risk of either losing market share or experiencing revenue income erosion or both.”
The report recommends several ways for real estate companies to embrace new PropTech trends, including: hiring leaders with technology backgrounds to lead digital transformation initiatives; embedding data and analytics into how they run their business; partnering with PropTech companies to co-create solutions, and looking beyond cost-cutting to find ways to use technology to improve engagement.
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