"The original pitch for proptech made sense. Real estate was slow, paper-heavy, and way overdue for a technology upgrade. And some of what came out of that era genuinely helped, listing search got dramatically better, digital signatures saved everyone a trip to the office, some of the communication tools made deals run smoother."
Real estate technology followed a pattern similar to streaming: an initial promise of simplicity and modernization gave way to multiple separate products. Early proptech improvements included better listing search, digital signatures, and communication tools that made deals run smoother. Over time, each problem became its own product category, including coordination tools, transaction platforms, pricing data subscriptions, lead generation systems, compliance software, CRM, lender marketplaces, and additional MLS layers. These systems were not designed to integrate with newer tools. Agents may switch among five or six tools to close one transaction, with costs and failure points across disconnected workflows. Buyers and sellers experience the impact through repeated document requests and slow responses.
Read at www.housingwire.com
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