CONNECTING TOMORROW’S LEADERS: Proptech “fatigue” is setting in, according to the European director of WiredScore.
William Newton, EMEA director at the connectivity rating service, said property companies currently evaluating tech options would be better served adopting one rather than trying to evaluate and implement several.
“There’s proptech fatigue with everyone at the moment,” he said. “Pick one and try to integrate it into your business.”
Taylor Wescoatt of Concrete VC agreed with Newton. “There is a lot of fluff and noise,” he said. “A lot of the proptech companies coming through don’t talk to the proptech crowd or the VC community. I am not looked at as a VC. I am looked at as someone who brings the real estate perspective.”
Wescoatt said the proptech companies he was interested in backing were “solving a problem for people in that sector”.
And he predicted more surveyors would move into proptech. “People from the real estate sector can bring expertise into the tech sector and help solve problems the real estate sector is facing,” he said.
James Shepherd of recruiter McDonald & Co said proptech businesses were already widening their recruitment nets: “We are very busy at the moment in the proptech market. A lot of clients are asking us to find candidates who do not come from that traditional real estate background.”
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