Real Estate is an ancient industry from the stonemasons who constructed the pyramids and cathedrals to the male-dominated bricks and mortar of the last 50 years. Society and policymakers perceive it as not economically productive, polluting, quaint and led by men who make excessive profits, meet at private clubs, smoke cigars and drive luxury cars. How can an industry perceived this manner innovate? Could PropTech be the industry’s savior or is that the perception of the industry outdated and masking a hotbed of innovation?
The overwhelming majority of industry players we interact with are now hungry to innovate and are innovating. it's going to be the case that the emergence of Proptechs and new business models like WeWork are a catalyst and woken this huge industry from its slumber. it's going to even be that social media has enabled the customer, the one that moves within and around land a day, to voice their opinion of how well or how badly it serves their and society's needs. regardless of the driver, it’s a positive step and one I think will accelerate rapidly.
There are great samples of innovation that are being driven by existing players checking out better ways to try to things.