As property hunters all over the world get more demanding about how their next homes are presented to them, the need for integrated 'listing-tech' services grows. Agents and portals no longer have to go around several companies to get all the listing extras as there are specialist companies out there that can do it all for them.
This week we spoke to Josh Lamerton of Singapore based PropTexx to find out a bit more about one of the new breed of PropTech companies that can provide all the extras an agent might want for their listing...
What is the problem that PropTexx solves?
PropTexx solves many pain points associated with creating immersive media content. Until now, an agent, real estate content creator, developer or associated property professional had to go to one place to get a 360 tour, another place to get floor plans, another place to get photo editing, another place to get property landing pages, etc.
We have plugged all of these key tools into a single scalable, integrative solution.
What is PropTexx’s USP?
The all-in-one tech toolkit. Backed by Artificial intelligence the services we offer are the product of years of R&D centred on deep learning - built on consumer trends and customer preferences. The PropTexx portal offers high-quality solutions with easy to use editing functions integrated into each unique process.
PropTexx helps real estate professionals enhance and elevate their listings/offerings and business online. With a vision to help empower and make a seamless transition towards tech adoption. Now everyone can sell more in the digital space.
What is PropTexx’s biggest challenge?
Not overwhelming our customers with too many services! With a diverse offering, we have carefully mapped out a strategic 4 pillar approach to our business - 4 channels offering a unique set of products and services where each one compliments the next - Capture Technology, Distribution, Software and Marketplace.
How many employees does PropTexx have?
15 and Growing.
How has Covid-19 changed the landscape for PropTexx?
It boosted our services and validated our offering on a global scale. Tech adoption in all aspects has sped up due to the Covid-19 restrictions/lockdowns. In the last 12 months, we have seen an average increase of 15x MoM order requests.
Real estate professionals couldn't present their listings to clients due to the restrictions imposed - PropTexx provided the solution for agents to showcase their properties online - adding elements such as virtual staging, virtual tours and virtual renovations really helped create a sticking point and unique selling point for agents. We have now been able to capitalise on that customer base by offering additional services to agents to stay at the forefront.
What is one thing our readers might not know about but would probably find interesting about the world of ‘listing-tech’?
The successful adoption of technology in the real estate sector will be determined by the ability to provide value for users. Photos, Floor plans and Virtual tours are deemed as some of the most useful tools on any property listing - Websites and landing pages with virtual tours receive 5 to 10 times longer views than those without.
Which PropTech companies out there do you guys read about and keep an eye out for and why?
We like to keep our finger on the pulse with emerging startups and trends within the PropTech market, but here are a few of the standouts:
Matterport - They are at the forefront of 360 tours, with their IPO this year they have helped to validate the market.
Box Brownie - They have a store with similar products to our marketplace, Box Brownie along with similar photo editing providers have shown strong traction and impressive revenues.
Reomnify - We certainly see the value in big data and machine learning. Reonomy has a great offering, the capability to analyze and aggregate millions of property listings is certainly impressive.
Holo Builder - Their “SpeedMode” capture tech is impressive - we work with a range of partners in the off-plan / pre-build stage of property development - we certainly see a great value proposition from Holo Builder.
What is PropTexx currently working on?
We can't reveal too much but our R&D team currently works around the clock to further enhance and develop our deep learning AI algorithms and protocols. Blockchain tech has been a talking point too. We also have an upcoming product launch scheduled for Q1 2022... Watch this space!
What is the most common request from clients?
During Q3 and Q4 this year we have seen an uptake in AI Photo enhancement, Virtual Floor Plans and Virtual Photo Staging.
How do you see the market evolving and what will you be doing to be ahead of the curve?
All of these new PropTech innovations are just in their infancy. As the market develops and adopts PropTech, the true value of these tech tools will be seen. We have already begun to see social acceptance in areas of blockchain and digital reality.
It is apparent that all big companies in Real Estate, Travel, Leisure and Hospitality are seeing the power of this engaging tech. The value in offering immersive content that takes viewing and consumer interaction to new heights is unparalleled and we look forward to the journey ahead.