PROPTECH - Re-defining the status quo
03 August 2018
PropTech is the new status quo
It’s no secret that technology innovations have become the bricks and mortar of business. Almost every industry is receiving a technology makeover, with the property industry being no exception. And so, PropTech has been born. Short for Property Technology, PropTech refers to the new technologies that have been developed in response to the traditional, inefficient, and antiquated processes currently utilised within the real estate industry. Also referred to as REtech (Real Estate Technology) or CREtech (Commercial Real Estate Technology) companies, PropTech companies bring technology and real estate together to propel the industry forward. Our Sitewisely platform is leading the Australian PropTech space, leveraging technology to enhance both the property professional and customer experience.
Sitewisely as a PropTech innovator
Sitewisely challenges the commercial real estate industry’s traditional approach to visualising, consulting on, and collecting data. Business location has become increasingly important to get right, however it is equally important to ensure you aren’t overspending on location. This increases the pressure on property professionals to gather and analyse all of the relevant data to present an accurate, complete and transparent version of the property landscape to clients.
This is where Sitewisely steps in! Our PropTech platform collates all of the relevant data that real-estate professionals and customers require, in order to ensure a more transparent, streamlined, and human-centred approach to site selection. We focus on developing the technology infrastructure to streamline and enhance the commercial real estate industry’s current site selection and location research processes.
The traditional process ‘vs’ our PropTech solution
Searching for and choosing a commercial real estate business site can be a complex information filtering process, involving in depth research and the navigation of overlapping or missing information. It may also involve consulting with external professionals, to identify the information required on the demographic and socio-economic characteristics of the area, the development planned around the area, forecasted transport infrastructure and developments, land use and planning, competitor locations, the locations and types of other businesses operating in the area, and so much MORE! This is not an efficient process, and collating all of this information involves no small feat of liasing with data professionals and clients.
This is where Sitewisely’s PropTech platform steps in. Our platform contains all of this information and is continuing to grow. We gather data from the ABS (Australian Bureau of Statistics), open source data from state and local governments, store location data, and data partner GIS files. With access to open data and through fostering collaborative relationships with data professionals, Sitewisely’s PropTech innovation aggregates all of the available and relevant data, to streamline the site selection process within one platform. We realise technology’s potential to ensure transparency and efficiency within the real estate sector, presenting a complete picture of the real estate landscape with a few clicks.
Our PropTech made possible
We are focused on gathering and mapping urban intelligence, Australia wide. This is made possible by increased access to digitised open source data and the willingness of organisations to share resources. In turn, we aggregate and consolidate the data to display a complete story for each location of interest. Property professionals can click on a location and instantly access and visualise all of the relevant data pertaining to that site and area. We also offer to input any data provided by our clients into the Sitewisely platform, to ensure the best PropTech location analysis service.
The key value of Sitewisely is the efficiency it affords the property sector, as well as other industries, in acquiring information and selecting a site - transforming a once lengthy and costly exercise into a refined and streamlined process.