The World’s Oldest Asset Class Enters the 21st Century: <i>How Technology Is Transforming Real Estate Investment</i>

Clayton, Jim; Fabozzi, Frank J.; Giliberto, S. Michael; Gordon, Jacques N.; Liang, Youguo; MacKinnon, Greg; Mansour, Asieh

doi:10.3905/jpm.2019.45.7.014

Cited by 4 publications

(4 citation statements)

References 12 publications

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“…This concept is very close to that suggested by Clayton et al (2019) when he refers to the office as an environment more adaptable to today's times, in which new social connections are established between the provider and the client. Gardès (2019) also supports the idea of reconfiguring the concept of the office, providing a new meaning to its original function.…”

Section: Physical Officesupporting

confidence: 59%

“…The last decade has witnessed significant technological innovations and an important proliferation of new commercial models in the sector (Shaw, 2018;Barwick & Wong, 2019;Clayton et al, 2019;Siniak, Kauko, Shavrov & Marina, 2020). The use of new digital and computer technologies is gradually spreading in a real estate sector marked by its weak capacity to innovate and by its relative slowness to adopt innovative technologies (Kassner, Cajias & Zhu, 2022;Fields, 2019).…”

Section: Introductionmentioning

confidence: 99%

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Proptech: A qualitative analysis of online real estate brokerage agencies in Spain

Asensio-Soto

Astor²

2022

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Purpose:The arrival of new companies that are more technological and scalable to the real estate sector has caused a revolution in a very conservative and not very innovative industry. The main objective of this research is to characterize the business model of proptech online brokerage companies in home sales in Spain, based on the traditional agency model.Design/methodology: Nine semi-structured interviews were conducted with the CEOs and managers of six proptech online real estate brokerage agencies in Spain. Their content was analyzed by means of the study and comparison of common patterns. Findings:During the digitalization process of the brokerage, a regression was detected back to more classic procedures typically found in traditional agencies, thus establishing an important difference as compared to other more transparent markets. Accordingly, a convergence occurs between the different real estate brokerage models (online and traditional), resulting in a hybrid model. Research limitations/implications:The limited number of agencies that operate in the online mode in Spain makes the sample size quite small. Practical implications:The results contribute greater transparency to a traditional sector characterized by its opacity, and they give visibility to the changes that are currently taking place, facilitating information to both professionals and users.Social implications: It contributes to the fulfillment of sustainable development goal number 9, concerning the promotion of development-oriented policies that support the creation of decent jobs, entrepreneurship, creativity and innovation.Originality/value: It expands the scientific literature dedicated to online real estate brokerage in Spain, given that as of today, we have no knowledge of any other published academic work on this topic. The research contributes to the vision that new sector agents have of it and those changes that are occurring within it.

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Section: Physical Officesupporting

confidence: 59%

Section: Introductionmentioning

confidence: 99%

Proptech: A qualitative analysis of online real estate brokerage agencies in Spain

Asensio-Soto

Astor²

2022

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“…W ramach PropTech można także dokonywać różnorodnej kategoryzacji działań i usług. Dearsley (2019) (Siniak i in., 2020;Clayton i in., 2019). Technologia i innowacje odgrywają coraz większą rolę w branży nieruchomości i wpływają na wszystkich uczestników rynku, zwłaszcza tych, którym brakuje innowacyjności.…”

Section: Smart Real Estateunclassified

Nowe technologie na rynku nieruchomości – w poszukiwaniu zrównoważonego rozwoju

Bartkowiak¹,

Górska²,

Koszel³

et al. 2023

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Monografia podejmuje aktualną i istotną tematykę wykorzystania nowoczesnych technologii, w tym innowacyjnych produktów technologicznych i biznesowych w działalności podmiotów aktywnych na rynku nieruchomości mieszkaniowych, głównie na rynku pierwotnym. Jest to słabo rozpoznany do tej pory obszar badawczy wykorzystujący innowacyjne technologie z grupy PropTech, które oddziałują na zrównoważony rozwój lokalnych rynków mieszkaniowych w Polsce, a także funkcjonowanie miast i aglomeracji (w szerszym zakresie). Autorów interesuje oddziaływanie nowoczesnych technologii na społeczeństwo, w tym społeczności lokalne, środowisko naturalne, ład korporacyjny, gospodarkę lokalną, w tym rynek pracy. Zasadniczym celem monografii jest przedstawienie teoretycznych i praktycznych aspektów PropTech w odniesieniu do działalności deweloperów mieszkaniowych na lokalnym rynku nieruchomości. Autorzy dokonali krytycznego przeglądu literatury oraz przeprowadzili badania własne wśród przedsiębiorstw deweloperskich na wybranym lokalnym (poznańskim) rynku mieszkaniowym.

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“…They find that due to the emergence of PropTechs and their technological advancements, the level of available data led to increased transparency, escalating land prices and increased housing unaffordability. Another strand of literature looks deeper into the usage and utilisation of new technology in the real estate industry (Ullah et al, 2017;Braesemann and Baum, 2020), in particular on the impact of PropTech on transaction and industry growth (Saull et al, 2019;Siniak et al, 2020;Clayton et al, 2019). This literature concludes that technology and innovation play an increasing role in the real estate industry and affects every market participant, especially those that lack innovativeness.…”

Section: Key Survival Factors For Proptech Companiesmentioning

confidence: 99%

The PropTech investors' dilemma – What are the key success factors that secure survival?

Kassner

Cajias

Zhu

2022

JPIF

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PurposeThe real estate industry is known as a late adopter when it comes to changes and innovations. While the industry is slowly evolving, parts of the sector are increasingly being conquered by property-related start-ups, known as “PropTechs”. These companies offer solutions and cutting-edge technologies to increase efficiencies and solve industry-wide problems. However, little is known about these companies' survival. This paper analyses the survival rate of PropTech firms and the determinants.Design/methodology/approachBased on a sample of 1,052 firms, factors that influence the firms' survival rate are analysed using the Cox Proportional Hazards Model, which is expanded with non-linear splines to capture turning points in the survival.FindingsThe authors find that in addition to the size, financing condition plays the most critical role in the success of Prop-Tech firms, including the number of financing rounds and maximum number of investors over lifetime. Moreover, the relationships are non-linear. Founding years and technology focus can also statistically influence the success rate. Companies founded before 2008 focussing on Sustainability Technology, Data and Business Analytics, Real Estate-related FinTech and Visualisation show the highest success rates.Practical implicationsThe results are critical for investors interested in PropTechs to understand the success of their investments better. The importance of financing conditions shows that both investors and PropTechs may benefit from better financing processes that provide funds in a timelier manner.Originality/valueThe authors exploit a new and comprehensive data set that includes over 6,000 PropTechs globally. The authors' study fills in the literature gap on the determinants of the survival rate of PropTechs.

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The World’s Oldest Asset Class Enters the 21st Century: How Technology Is Transforming Real Estate Investment

Cited by 4 publications

References 12 publications

Proptech: A qualitative analysis of online real estate brokerage agencies in Spain

Proptech: A qualitative analysis of online real estate brokerage agencies in Spain

Nowe technologie na rynku nieruchomości – w poszukiwaniu zrównoważonego rozwoju

The PropTech investors' dilemma – What are the key success factors that secure survival?

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