What is #PropTech and how does it work?

What is Proptech 2021

It is not some geeky language that is shared by school leavers sat up in their bedrooms sharing special digits and codes and neither is it some high tech marketing skill that goes way above your head when presented to you (well the build of it may be complicated, but how it is presented certainly isn’t).

Proptech is the change we are seeing within our industry that are making our lives easier and much more rewarding when it comes to finding new valuations and selling / renting property in the UK. There is no challenge for Estate Agents to embrace Proptech and it is in fact more a challenge for the guys behind the Proptech brands to get in front of agencies to showcase what their products and services can do.

Proptech: Breaking the industry into smaller sectors and having the ability to drive more and more of a target audience to each of them meaning that results are better, so there is a very big tick in the ROI box.” Christopher Walkey.

The internet will never catch on was once a famous saying and since that time we have adopted it to such an extent that it is more important to some than communication channels such as radio, telephone and television. In recent years we have had the explosion of social media and being one of the first within our industry to embrace it, I know that it was never really seen as a potential marketing channel in the early days for the property industry… I believe that it is no where near where it can be just yet, so much more to come and nowadays many estate agencies spend a lot of time and their budgets on the likes of Twitter and Facebook etc.

Savills and Proptech Cities? http://www.savills.co.uk/tech-cities/index.html#intro

Innovation (Proptech) we have recently seen enter our industry now automates nearly every step of the UK property buying and selling process eliminating time wasting elements and delivering more precise results by being able to understand each and every client’s needs. How consumers are interacted with such as when, on which device and in which tone, in how much detail and what language can all be defined with advancements in PropTech. We can not (yet) eliminate the need for human driven actions within the industry, but PropTech is learning very quickly how it can deliver results in helping to work alongside people (both industry and consumer) to save valuable time, efforts and money.

You just want to acquire new valuations for your portfolio and sell / rent them out as quickly a possible right? This part of Estate Agency will never change, but Proptech is now filtering into the industry and breaking it all down into parts allowing estate agents to pick and chose the best ‘components’ to help them to drive better results and market share locally.

You may not think that Proptech is actually anything to take note of yet, but London is now seen as one of the central hubs for this new section of the industry and just like those who didn’t take note of the internet or social media, it will creep up behind you and your business will embrace it at some point so just like anything in business, as per the early bird with the worm, being first at something can prove the difference to success and failure or achieving market dominance.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove’s Weekly Mortgage Tracker – 18/09/25

Average rates for 2-year and 5-year fixed-rate mortgages   Term Average rate Weekly change Yearly change 2-year fixed 4.54% +0.02% -0.44% 5-year fixed 4.56% +0.01% -0.05%   Lowest rates for 2-year and 5-year fixed-rate mortgages   Term Lowest rate Weekly change Yearly change 2-year fixed 3.75% +0.00% -0.24% 5-year fixed 3.89% +0.00% +0.12%   Average…
Read More
Planning disputes on new build land
Estate Agent Talk

Slowdown in planning applications and decisions

Property lawyer says “The government have had a year to make improvements to house building and have not made any progress.” Housing Secretary Steve Reed has announced a “building acceleration package” to speed up house building in England after new figures revealed a slowdown in planning applications and decisions. David Smith, property litigation partner at…
Read More
bank of england interest rate
Breaking News

Bank of England’s holds interest rates at 4%

With the Bank of England’s decision to hold interest rates at 4%, here are some thoughts from the Industry.   Matt Smith, Rightmove’s mortgage expert: “A Base Rate hold today had looked fairly nailed on, especially after yesterday’s news that inflation remains stuck at 3.8%. The later-than-usual Budget is very much on the horizon, and…
Read More
Breaking News

Breaking Property News 18/09/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Exodus of Landlords – means lower supply and increased rents’ MPs have taken the Renters’ Rights Bill a major step closer to Royal Assent, confirming the scrapping of Section 21 “no-fault” evictions and the end of fixed-term tenancies, which will now convert into open-ended…
Read More
Breaking News

Energy Rules Without Power: Tenants and Landlords Both Question EPC Impact

New research from LRG reveals that both landlords and tenants are struggling to engage with the Energy Performance Certificate (EPC) system, raising serious questions about whether it can deliver on its intended goals ahead of the government’s 2030 targets. While landlords overwhelmingly support the principle of improving energy efficiency, confidence in the system designed to…
Read More
New Builds 2020
Breaking News

New Build Home Enquiries Double in Summer 2025 

From June to August 2025, Compare My Move’s conveyancing data shows a 120% increase in new build home purchase enquiries compared to the same period in 2024.  This surge reflects not only more people looking to buy homes overall but also a higher share of buyers choosing new builds. On average, 12% of purchase enquiries in…
Read More