The rise of AgentTech and Property Fintech — Proptech Weekly #22

Subscribe to Real Estate Pundit’s newsletter

Friends, Feudal Landlords and Commoners,

Looks like the whole “Year of the Mortgage” stuff really struck a nerve. And by the way, there’s a Super Bowl ad for that…

One question keep cropping up: Why is Proptech not as hyped/written about?

Zoopla was never considered as proptech. The vast majority of proptech was founded on the notion of ‘disrupting high street agents’, like Emoov and the now high-street-agency acquired Hatched.

While ‘agent-killing’ isn’t the sole endeavour of proptech, it is high on the priority list of most proptech founders.

That doesn’t bode well for others.

For example, there are a few companies who have found success building products for estate agents, like Fixflo and new entrant Apply.Property. I think these companies would be better served by an unrelated moniker. Maybe AgentTech?

Then there’s the world of mortgages: MortgageTech, or Property Fintech, isn’t so thrilling or wide ranging. But maybe it doesn’t need to be: because it’s a HUGE and concentrated market opportunity.

The key is getting the press to latch onto a term they feel confident in talking about, beyond their Emoov-esque hatred of high street agents.

Please feel free to relay news, tips and comments @realpundit

Rayhan’s PropTech picks XXII

Upcoming Events

Mobile Technology for Surveyors — 11 Feb — Link
The 2nd Crowdfunding and Marketplace Lending Forum For Real Estate — 10–11 Mar — Link
Propteq Europe 2016–25 May — Propteq.com
Realcomm 2016–21–23 Jun — Link

What’s next for Redfin? (Inman Select)

Redfin is the original map-search portal that Zillow copied and out-executed long ago pivoted into a tech-enabled-agent. And they have the dual-threat of a warchest of funding and a CEO that everyone likes. But they haven’t exactly been setting the world on fire. This Inman Select article looks at what could be next for the Granddaddy of property tech start-ups link

Robin and Saul Klein’s LocalGlobe backs online mortgage advisor Trussle (Techcrunch)

And it begins. If you didn’t previously believe 2016 is the year traditional mortgage process come under the disruption threat, then reassess your thoughts as the most respected investors in Europe just took their first punt in this space. Why does this matter? Well, you wouldn’t pay double for your electricity, mobile phone or car insurance bills, but so many people with a mortgage are doing exactly that. Beyond the initial mortgage application, which is genuinely a nightmare process, few then go on to remortgage when their initial rate transforms into a ‘standard variable rate’. Trussle is aiming to ease this pain. Today it is merely a better application process for getting a mortgage. But the future could be an incredible money saver by preventing any homeowner from ever lapsing into a ‘standard variable rate’ and paying thousands extra a year in unnecessary interest. Even better, the start-up could help lenders retain customers that are thinking about remortgaging elsewhere, and therefore affording these massive institutions sizeable cost savings. No more pricey newspaper adverts, just the data from Trussle informing which customers need better attention. Link

A new Radpad (Medium)

I haven’t written about them much, but Radpad are genuinely one of my favourite start-ups. This write-up on their rebrand is a textbook example of how to give a good brand a great refresh. Love the new Radpad ‘spotlight’ logo. I’m a genuine fan of Tyler Galpin: Link

Meet Ten-X (CNBC)

Continuing the rebrand theme, it’s incredible that Auction.com have thought changing their name is the route to consumers. It’ll be fascinating to watch this play out (and potentially be a massive crash-and-burn). Link

Zameen raises $20m to stretch it’s lead in Pakistan (The Express Tribune)

Property portals may be horribly dated experiences for consumers, but they make great media businesses that throw off cash. Zameen now is quoted as having 9,000 agency customers. That’s impressive. Link

Amazon Echo is a sleeper hit (Quartz)

Not strictly proptech, but oh my G is this exciting. Amazon Echo is a bluetooth music speaker that is always listening, so that it’s ready to obey your every command. And just google #BaldwinBowl to see the awesome adverts. I want one. If only so I can feel the importance that comes with someone (something?) listening to what I say. Link

CRE Tech 4.0–2,200 companies and counting (Realcomm)

A knowledgeable look at past and present efforts to bring tech to Commercial Real Estate. As per usual, I don’t comment on things I have little knowledge of, like Commercial Real Estate. Link

RealDeal’s 5 intriguing Real Estate Technology companies (The Real Deal)

Nothing too exciting, so I’ll slip in their article on Opendoor to balance the boredom: Link

Rocket Internet’s property portal Lamudi raises $31.4m

One of the few portals looking for international expansion. It flies in the face of the whole ‘property is local’ mantra, but they’re certainly amassing the funds to take on those countries without a dominant portal presence (Latin America and Asia excluding Indian Subcontinent).

More Commentary from The Real Estate Pundit:

Featured

>

May 27, 2016

Proptech Weekly

Real Estate Pundit

May 27, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/the-present”
 
 
 class=”summary-title-link”>The Present is the future of agency — Proptech Weekly #33

May 27, 2016

Proptech Weekly

Real Estate Pundit

May 27, 2016

Proptech Weekly

Real Estate Pundit

Gary Chimwa put on the excellent Future of Property Tech conference in London. It was big!

There were three big themes: agency, mortgages and VR. 

The conclusions were:

The future of agency looks much like today (i.e. full of a long tail of agents) 

The future of mortgages looks much like today (it’s so tightly regulated); 

And the future of VR looks much like today (gadgets for excitement at events, but no mainstream application). 

These aren’t negative comments. It’s just the current state of property technology. Specifically there really isn’t much tech.

May 27, 2016

Proptech Weekly

Real Estate Pundit

May 27, 2016

Proptech Weekly

Real Estate Pundit

>

May 9, 2016

Proptech Weekly

Real Estate Pundit

May 9, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/pilabs-and-more-jonny-britton-proptech-weekly-31"
 
 
 class=”summary-title-link”>PiLabs and more Jonny Britton — Proptech Weekly #31

May 9, 2016

Proptech Weekly

Real Estate Pundit

May 9, 2016

Proptech Weekly

Real Estate Pundit

I don’t set out to be so extreme in my views.

I just want to promote those doing good work and I find it hard to hide my dislike for those who lack credibility and a credible approach.

What am I getting at? Pi Labs.

May 9, 2016

Proptech Weekly

Real Estate Pundit

May 9, 2016

Proptech Weekly

Real Estate Pundit

>

Apr 25, 2016

Proptech Weekly

Real Estate Pundit

Apr 25, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/from-seattle-to-sydney-seven-start-ups-youve-not-met-yet-proptech-weekly-29"
 
 
 class=”summary-title-link”>From Seattle to Sydney, Seven Start-ups you’ve not met yet — Proptech Weekly #29

Apr 25, 2016

Proptech Weekly

Real Estate Pundit

Apr 25, 2016

Proptech Weekly

Real Estate Pundit

This blog was started to highlight the people behind the Proptech.

This week I’d like to focus on seven start-ups from Seattle to Sydney that you’ve never heard of but really need to investigate.

Apr 25, 2016

Proptech Weekly

Real Estate Pundit

Apr 25, 2016

Proptech Weekly

Real Estate Pundit

>

Apr 18, 2016

Proptech Weekly

Real Estate Pundit

Apr 18, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/the-state-of-proptech-funding-proptech-weekly-28"
 
 
 class=”summary-title-link”>The State of Proptech Funding — Proptech Weekly #28

Apr 18, 2016

Proptech Weekly

Real Estate Pundit

Apr 18, 2016

Proptech Weekly

Real Estate Pundit

You have to feel sorry for the investors. 

Which start-ups would you really back with a significant amount of capital?

Exactly.

Apr 18, 2016

Proptech Weekly

Real Estate Pundit

Apr 18, 2016

Proptech Weekly

Real Estate Pundit

>

Apr 14, 2016

Proptech Weekly

Real Estate Pundit

Apr 14, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/property-partner-and-proptech-investment-volume-proptech-weekly-27"
 
 
 class=”summary-title-link”>Property Partner and Proptech investment volume — Proptech Weekly #27

Apr 14, 2016

Proptech Weekly

Real Estate Pundit

Apr 14, 2016

Proptech Weekly

Real Estate Pundit

CB Insights released data on Proptech fundraising in the first 3 months of 2016.

If you’re a start-up founder in the UK whose name isn’t Dan Gandesha, you don’t figure on the list.

He can’t be the only Proptech founder with true ambition and the graft to back it up.

But numbers don’t often lie, and he’s the one growing his business and raising money in a way that’s making everyone’s head turn.

And I can’t stress enough how getting people talking is so damned important.

Apr 14, 2016

Proptech Weekly

Real Estate Pundit

Apr 14, 2016

Proptech Weekly

Real Estate Pundit

>

Apr 1, 2016

Proptech Weekly

Real Estate Pundit

Apr 1, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/proptech-weekly-26-the-lack-of-hype-in-proptech-is-no-april-fools-joke”
 
 
 class=”summary-title-link”>The lack of hype in Proptech is no April Fool’s joke — Proptech Weekly #26

Apr 1, 2016

Proptech Weekly

Real Estate Pundit

Apr 1, 2016

Proptech Weekly

Real Estate Pundit

why do both investors and entrepreneurs not get that bigger is better? 

Bigger funding allows for bigger companies to be built to bigger exits with larger amounts of people benefiting and giving back as angel investors. Everyone wins.

Yet the ideas being funded in the UK are small. And their capital raisings are meagre. It makes me wonder what is the point of giving a company so little money that they can’t do anything but think about the next raise.

Where’s the hype going to come from in Proptech?

Us. Proptech founders. 

If the sector is under-capitalised, then the human capital needs to come together, help each other and create that rising tide of Proptech.

Apr 1, 2016

Proptech Weekly

Real Estate Pundit

Apr 1, 2016

Proptech Weekly

Real Estate Pundit

>

Mar 24, 2016

Proptech Weekly

Opendoor, Wework, Nested, OpenDoor

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Opendoor, Wework, Nested, OpenDoor

Real Estate Pundit

href=”/home/2016/proptech-weekly-25-scale-vs-scalability-a-look-at-innovators-opendoor-wework-and-nested”
 
 
 class=”summary-title-link”>Scale vs Scalability — A look at innovators Opendoor, Wework and Nested — Proptech Weekly #25

Mar 24, 2016

Proptech Weekly

Opendoor, Wework, Nested, OpenDoor

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Opendoor, Wework, Nested, OpenDoor

Real Estate Pundit

First, the most exciting PropTech company in the world has just announced some incredible news.

And no, I’m not talking about WeWork’s mammoth fundraising. While impressive, it doesn’t really change the world. You know, like how OpenDoor are re-imagining the process of buying and selling a home.

Mar 24, 2016

Proptech Weekly

Opendoor, Wework, Nested, OpenDoor

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Opendoor, Wework, Nested, OpenDoor

Real Estate Pundit

>

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/proptech-weekly-24-business-model-matters-enablers-like-fixflo-applyproperty-and-rightmove-vs-disruptors-like-emoov-and-purplebricks”
 
 
 class=”summary-title-link”>Business model matters — Enablers like Fixflo, Apply.Property and Rightmove vs Disruptors like Emoov and Purplebricks — Proptech Weekly #24

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

There’s been a flood of AgentTech these past few weeks. It seems many entrepreneurs are pivoting from their ‘agent-killing’ ambitions. I’d like to call this the Fixflo-effect. They are, after all, the leading light amongst the current crop of Proptech start-ups.

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

>

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/proptech-weekly-23-politics-and-property-the-donald-trump-and-boris-johnson-way”
 
 
 class=”summary-title-link”>Politics and Property the Donald Trump and Boris Johnson way — Proptech Weekly #23

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

While Trump’s experience is more overt, it’s important to note that Boris has poured more money and support into property than any previous mayor (or UK politician since the 1980s). Politics and politicians matter: they move markets and capital with extraordinary effect.

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

>

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

href=”/home/2016/proptech-weekly-22-the-rise-of-agenttech-and-mortgagetech”
 
 
 class=”summary-title-link”>The rise of AgentTech and Property Fintech — Proptech Weekly #22

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

One question keep cropping up: Why is Proptech not as hyped/written about?

The vast majority of proptech was founded on the notion of ‘disrupting high street agents.

While ‘agent-killing’ isn’t the sole endeavour of proptech, it is high on the priority list of most proptech founders.

That doesn’t bode well for others, the ones who want to ‘enable’ the incumbents, rather than disrupt them.

Mar 24, 2016

Proptech Weekly

Real Estate Pundit

Mar 24, 2016

Proptech Weekly

Real Estate Pundit