The rise of real estate technology or PropTech including automation, virtual reality to market and view properties for the remote or time poor buyer, qualifying prospects using chatbots and mobile working is enabling those in the sector to work more efficiently through COVID-19. Transparency is no longer an option but a prerequisite and this practice is extended to the customer experience in the retail space.

The real estate sector is experiencing investments from venture capitalists, REITs, private equity firms and other, high net worth individuals to fund real estate tech start-ups that include operations-related platforms focusing on property search, leasing, facility management, smart building technologies and home services.

Another way this space is being disrupted is through FinTech platforms which enable financing and investments in real estate for the buyers, offering diverse services and solutions that are transactionary with digital lending that benefit construction and investors.

Technology in the property sector is threatening incumbent real estate agencies who are not growing with the trend. New businesses in property offering innovative solutions and enhanced user environment, whilst balancing the service aspect with a reinvented retail space which optimise the human interaction between the agent and the customer providing service at the highest level is the hybrid reality that promises to be the future in this sector.