The new Yardi / Property Council PropTech Survey is the first to unpack Australian real estate industry attitudes to technology, and to identify solutions delivering the strongest returns on investment.
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Three key takeaways:
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The Property Council and Yardi have launched the new survey to understand which proptech solutions are generating the highest adoption rates and those delivering the strongest return on investment.
The survey will also uncover roadblocks to technology adoption and “reactionary and strategic” technology responses to COVID-19, Devine explains.
Yardi launched its first proptech survey in collaboration with Mingtangdi in 2017. The now-annual survey provides sharp insights into the evolving perception of proptech in Asian markets.
The Yardi / Property Council PropTech Survey will compare perceptions in Australia with other markets, and determine how digital transformation in real estate compares to other industries.
Devine suspects the survey will confirm that the real industry is still reliant on spreadsheets.
“People are fascinated by shiny new technology, and everyone is talking about artificial intelligence and big data but they still aren’t automating their processes. There’s a real disconnect, because AI and big data are entirely dependent on good data sources, and good data sources are dependent on good process.”
Because the data will break down participants’ responses by job type, the survey will also identify any divergence between the views of established business leaders and those rising up the real estate ranks.
“We are still seeing resistance to technology, even in a year of rapid change,” Devine adds.
The survey will give business leaders useful benchmarks and also identify gaps in education and training.
The Yardi Mingtangdi PropTech Survey of Asian real estate participants will be available in November, and Devine says Yardi plans to roll out more surveys globally. “This will allow us to dig even deeper into global trends in the future.”
The Yardi / Property Council PropTech Survey takes just a few minutes to complete and participants enter the draw to win a $250 VISA gift voucher. All submissions will remain anonymous and information will only be used to track industry trends.