[et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||3px|||” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width=”95%” max_width=”100%” custom_margin=”||-24px||false|false” custom_padding=”55px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_breadcrumb _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_breadcrumb-link title=”Real Estate 101″ _builder_version=”4.18.0″ _dynamic_attributes=”link_option_url” _module_preset=”default” link_option_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjcyMiJ9fQ==@” global_colors_info=”{}”][\/wahi_breadcrumb-link][wahi_breadcrumb-link title=”Buy” _builder_version=”4.18.0″ _dynamic_attributes=”link_option_url” _module_preset=”default” link_option_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjE2MzIifX0=@” global_colors_info=”{}”][\/wahi_breadcrumb-link][wahi_breadcrumb-link title=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@” _builder_version=”4.18.0″ _dynamic_attributes=”title” _module_preset=”default” module_text_color=”#686E6E” global_colors_info=”{}”][\/wahi_breadcrumb-link][\/wahi_breadcrumb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”16px||4px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _dynamic_attributes=”content” _module_preset=”default” header_font_size=”3.5rem” header_line_height=”4.5rem” header_font_size_tablet=”42px” header_font_size_phone=”2rem” header_font_size_last_edited=”on|phone” header_line_height_tablet=”4.5rem” header_line_height_phone=”2.75rem” header_line_height_last_edited=”on|desktop” global_colors_info=”{}”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”1px||1px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][wahi_socialsharing _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/wahi_socialsharing][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”15px||0px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|desktop” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n
The real estate<\/a> industry is evolving, and new technologies are helping usher in change to create better experiences for homebuyers<\/span>.<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” custom_margin=”||11px|||” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n By Josh Sherman<\/a>\u00a0<\/span>| 5 minute read<\/p>\n [\/et_pb_text][et_pb_post_title title=”off” author=”off” date_format=”M j” categories=”off” comments=”off” featured_image=”off” _builder_version=”4.18.0″ _module_preset=”default” custom_margin=”||17px|||” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”0px||3px|||” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” width_tablet=”” width_phone=”100%” width_last_edited=”on|desktop” custom_padding=”0px||9px|||” global_colors_info=”{}” width__hover_enabled=”off|desktop”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@” align=”center” force_fullwidth=”on” _builder_version=”4.18.0″ _dynamic_attributes=”src” _module_preset=”default” custom_margin=”1px||29px|||” border_radii=”on|32px|32px|32px|32px” border_radii_tablet=”on|32px|32px|32px|32px” border_radii_phone=”on|0px|0px|0px|0px” border_radii_last_edited=”on|desktop” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”1.13rem” text_line_height=”1.75rem” custom_margin=”-18px||2px|||” custom_padding=”||7px||false|false” custom_padding_tablet=”||7px||false|false” custom_padding_phone=”|15px||15px|false|true” custom_padding_last_edited=”on|phone” text_font_size_tablet=”1.13rem” text_font_size_phone=”0.9rem” text_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n New technologies are being adopted across the real estate industry, from using virtual reality to display new properties to developing new homebuilding techniques.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”1px||39px|||” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”16px||16px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n There isn\u2019t one definition for the term proptech \u2014 there are many.\u00a0\u00a0<\/span><\/p>\n <\/p>\n A combination of the words property and technology, specific interpretations of what exactly proptech encompasses vary. It depends on whom you ask. \u201cProptech is defined very differently by a lot of people because real estate touches so much, and it\u2019s adjacent to a lot of other industries,\u201d explains Stephanie Wood, investor at Alate Partners and content lead at Proptech Collective, which she describes as \u201ca platform that aims to bridge the information, knowledge, and diversity gap between the real estate and technology industries.\u201d<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#edf7f3″ custom_padding=”32px||32px||true|false” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||25px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” header_2_text_align=”center” header_2_text_color=”#38505b” header_2_font_size=”2.63rem” header_2_line_height=”3.75rem” max_width=”800px” module_alignment=”center” header_2_font_size_tablet=”32px” header_2_font_size_phone=”27px” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”32px” header_2_line_height_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”32px||47px|||” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”11px||14px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n <\/p>\n \u00a0<\/span><\/p>\n Proptech is altering the way we build homes through the introduction of new materials and construction processes. \u201cOn the material side, we\u2019ve seen a lot of innovation in terms of mixes, monitoring, and alternatives for cement and concrete \u2014 to make them more environmentally friendly \u2014 things such as self-healing concrete<\/a>,\u201d Wood notes.<\/span><\/p>\n <\/p>\n In terms of processes, automation and robotics are being piloted, although widespread adoption of some groundbreaking techniques isn\u2019t quite mainstream yet. Think technologies like 3D printing, through which robots are programmed to build walls layer by layer using concrete-like materials. More common but still cutting edge is modular housing, which involves building components in a factory, delivering them to construction sites, then rapidly piecing the parts together. These technologies have the potential to reduce construction costs by requiring less labour and they can shorten project timelines as well.\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n Getting homes built faster and cheaper is a plus for builders and buyers alike. \u201cIf you have less cost overrun and it takes less time to build things, ultimately \u2014 hopefully \u2014 you can pass through some form of savings to the end consumer,\u201d adds Wood.<\/p>\n <\/p>\n More advanced materials and construction techniques can also help homebuyers save in the long run, suggests Joanna Creed, director of operations and general counsel at Venturon, a venture capital group that invests in proptech companies focused on sustainability. \u201cFrom a developer side, it allows for more efficient homebuilding, and on the consumer side, the benefit is the cost savings over the life of the home,\u201d says Creed, who also co-founded Sustainable Proptech<\/a> with Venturon managing partner Deena Pantalone. (Creed is referring specifically to Panergy<\/a>, a specially insulated modular-home solution in Venturon’s portfolio that can reduce energy bills by up to 15% per year.)\u00a0 “Investing in that type of modular solution helps us in terms of expediting the delivery and production [of housing],” adds Pantalone, who notes modular housing has a smaller carbon footprint than traditional methods of homebuilding.<\/p>\n [\/et_pb_text][et_pb_divider show_divider=”off” _builder_version=”4.18.0″ _module_preset=”default” height=”30px” global_colors_info=”{}”][\/et_pb_divider][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n We\u2019re living in an era of unprecedented access to information, and proptech is helping homebuyers harness that data to make better-informed decisions. <\/span>\u201cInformation is control. There\u2019s more data transparently and publicly available today than at any time in the past without gatekeepers holding onto it,\u201d says Wahi CEO Benjy Katchen. <\/span> [\/et_pb_text][et_pb_divider show_divider=”off” _builder_version=”4.18.0″ _module_preset=”default” height=”30px” locked=”off” global_colors_info=”{}”][\/et_pb_divider][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Proptech is helping unlock different ways for homebuyers to get into the real estate market, too. \u201cThere have been a lot more companies that have been started over the last five years \u2014 and especially since the pandemic \u2014 that are allowing people to participate in the industry, and it\u2019s all part of the movement of trying to democratize access to real estate,\u201d says Wood. As one such case, Wood discusses the rent-to-own model, which dates back to the \u201870s \u2014 or earlier. <\/span><\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#f0faf4″ min_height=”334.8px” custom_padding=”27px||0px|||” global_module=”849″ saved_tabs=”all” locked=”off” global_colors_info=”{}”][et_pb_row custom_padding_last_edited=”on|phone” _builder_version=”4.18.0″ _module_preset=”default” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|phone” custom_padding=”49px||61px||false|false” custom_padding_tablet=”” custom_padding_phone=”” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” header_2_text_align=”center” header_2_text_color=”#38505b” header_2_font_size=”2.63rem” header_2_line_height=”3.2rem” custom_margin=”||25px|||” custom_margin_tablet=”” custom_margin_phone=”|5px||5px|false|true” custom_margin_last_edited=”on|phone” custom_padding=”||0px||false|false” header_2_font_size_tablet=”2.63rem” header_2_font_size_phone=”2.4rem” header_2_font_size_last_edited=”on|phone” header_2_line_height_tablet=”3.75rem” header_2_line_height_phone=”2.5rem” header_2_line_height_last_edited=”on|desktop” locked=”off” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_divider show_divider=”off” _builder_version=”4.20.2″ _module_preset=”default” custom_padding=”||0px|||” locked=”off” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Text” _builder_version=”4.18.0″ _module_preset=”default” text_text_color=”#e8db3a” text_font_size=”20px” text_orientation=”center” min_height=”35.8px” custom_margin=”-24px||32px||false|false” custom_padding=”||||false|false” custom_padding_tablet=”” custom_padding_phone=”|26px||26px|false|true” custom_padding_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Join Wahi today and find out how easy it is to get real estate in the GTA.<\/span><\/p>\n [\/et_pb_text][et_pb_divider show_divider=”off” disabled_on=”off|off|off” admin_label=”Divider” _builder_version=”4.18.0″ _module_preset=”default” height=”5px” height_tablet=”” height_phone=”1px” height_last_edited=”on|phone” custom_padding=”||0px|||” locked=”off” global_colors_info=”{}”] [\/et_pb_divider][wahi_wahiButton url=”\/ca\/en\/real-estate\/sign-up” button_font_color=”#000000″ button_color=”#EB7161″ circle_color=”#000000″ border_color=”RGBA(255,255,255,0)” focus_color=”#000000″ is_white_hover_text=”on” _builder_version=”4.18.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”]<\/p>\n GET STARTED<\/p>\n [\/wahi_wahiButton][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”29px||0px|||” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||4px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” text_font_size_tablet=”21px” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”36px” header_2_font_size_phone=”25px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n While the concept of renting to own isn\u2019t a recent innovation, emerging tech companies are breathing new life into the model. One is Toronto-based platform <\/span>Requity Homes<\/span><\/a>, which purchases property for renters, who enter into contracts to buy the homes for a guaranteed future price (normally within three years). During tenancy, a portion of the rent goes towards the rent-to-owner\u2019s downpayment savings. \u201cWe basically help aspiring homebuyers who have the cash flow to afford a home but still cannot qualify for a mortgage due to various factors,\u201d Amy Ding, founder and CEO of Requity, explains. The company\u2019s digital platform uses tech to enable pre-approvals for program applicants and automate the underwriting process and there are plans to add new features, including the ability for tenants to create tickets online to flag property issues.<\/span> [\/et_pb_text][et_pb_divider show_divider=”off” _builder_version=”4.18.0″ _module_preset=”default” height=”30px” locked=”off” global_colors_info=”{}”][\/et_pb_divider][et_pb_divider show_divider=”off” _builder_version=”4.18.0″ _module_preset=”default” height=”30px” locked=”off” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”33px||33px||true|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Josh Sherman” image=”https:\/\/wahi.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-02-at-7.46.57-PM.png” icon_placement=”left” 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custom_margin=”60px||||false|false” custom_margin_tablet=”340px||||false|false” custom_margin_phone=”310px||||false|false” custom_margin_last_edited=”on|phone” text_font_size_tablet=”” text_font_size_phone=”12px” text_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n By clicking \u201csubscribe\u201d, you agree to receive marketing newsletters from Wahi.<\/span> [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" The real estate industry is evolving, and new technologies are helping usher in change to create better experiences for homebuyers.<\/p>\n","protected":false},"author":14,"featured_media":283536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[23],"tags":[],"dipi_cpt_category":[],"class_list":["post-283428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-and-sell"],"acf":[],"_links":{"self":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts\/283428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/comments?post=283428"}],"version-history":[{"count":2,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts\/283428\/revisions"}],"predecessor-version":[{"id":294580,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts\/283428\/revisions\/294580"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/media\/283536"}],"wp:attachment":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/media?parent=283428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/categories?post=283428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/tags?post=283428"},{"taxonomy":"dipi_cpt_category","embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/dipi_cpt_category?post=283428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}“Proptech, in my definition, is a collective term for tech or for companies that use technology to solve the problems of the established real estate and construction industry.”<\/strong><\/span><\/h2>\n
For example, renewable-energy innovations are more likely to fall under the umbrella of proptech today, since sustainable construction has become more of a focus in the real estate business. \u201cWe look at it as technology that\u2019s enabling the built world,\u201d says Wood, offering her definition of proptech. Mario Facchinetti, Europe ambassador for PropTech Canada, puts another spin on it: \u201cProptech, by my definition, is a collective term for companies that use technology to solve problems in the real estate and construction industries.\u201d<\/span>
<\/span>
<\/span>One thing leaders in the emerging field of proptech can agree on: it\u2019s going to continue to transform the world of real estate. As it does, it won\u2019t just be the industry that reaps the rewards, some experts say \u2014 homebuyers can benefit, too, they suggest.\u00a0<\/span><\/p>\n
Here are three ways how.\u00a0\u00a0
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Deeper Data\u00a0\u00a0<\/b><\/h2>\n
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<\/span>\u201cHowever,\u201d he cautions, \u201cconsumers often lack the ability to interpret it themselves, which is where our digital real estate platform can help.\u201d Take <\/span>Wahi\u2019s Market Pulse tool<\/span><\/a>, he notes. It empowers homebuyers to compare sold and list prices in almost 400 GTA<\/a> neighbourhoods to see where home prices are more likely to be bid up. This means consumers can embark on their homebuying journeys with more realistic expectations about what they might end up paying down the road.\u00a0<\/span><\/p>\n
A recent wave of data-driven proptech companies have been entering the realm of financing as well, Wood says. \u201cWhat many are trying to do is help everyday people build wealth through real estate and educate them, since financing is an area that people aren\u2019t as comfortable with,\u201d she explains. The old process of working exclusively with a mortgage broker is being disrupted or at least complemented with new self-service tools for consumers. \u201cThere are ways that you can expedite this [financing and investing] process a little bit and help the end consumer get smarter earlier, whether it\u2019s calculators that help you understand how much you can afford with new rate increases or how to figure out should you rent or should you buy right now?\u201d<\/span><\/span><\/p>\nMore Homebuying Options \u00a0<\/b><\/h2>\n
<\/h3>\n
We put the real<\/em> back in real estate.<\/span><\/h2>\n
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<\/span>Fractionalization \u2014 which Wood describes as \u201cbreaking it (property) up into shares or units\u201d is another way in which people can dip into the real estate market without having a massive downpayment socked away. Wood cites the U.S.-based company <\/span>Fundrise<\/span><\/a>, which applies the crowdfunding model to real estate, as an example.\u00a0 Another is Pacaso<\/a>, a stateside enterprise that lets up to eight homebuyers pool funds to purchase a property under a co-ownership arrangement. \u201cThere are a lot of different ways that people can access real estate, whether that\u2019s for investment purposes or for ownership,\u201d Wood adds.<\/span><\/p>\nYou might also like<\/h2>\n
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