Articulating Why PropTech is Exciting
Here is a good way to explain to them why PropTech is something everyone should be interested in
Today’s newsletter will be a short-ish one.
Quite a few of the top candidates we are interviewing at TheHouseMonk told us they don't understand PropTech and felt it isn't as exciting as E-Commerce or Fintech.
If you are a part of this newsletter subscriber base, it’s super likely you are already sold on the PropTech opportunity (duh!). But you might be selling the industry to people externally - Future colleagues, investors or friends/family - most of whom are still skeptical (or ignorant) to PropTech’s potential.
Below, I have given a simple explanation I give to explain to people why this industry is exciting and worth being a part of. I have seen that this resonates with people, and gets many interested to know more about the industry.
Pls feel free to reuse this pitch if you find yourself in a similar situation.
PropTech is not about real estate, but about PEOPLE in the real estate.
These are technologies that impact how people live, work and play. These are technologies that shape society.
- Within a mall, where should the fashion store be located to maximize footfall?
- How do you pay rent for the house you live in?
- How does your landlord manage the maintenance of your office building?
- Should an e-commerce delivery company have a single LARGE warehouse at the center of the city, or should they have multiple small warehouses spread across?
PropTech answers each of these questions.
Every change in every other industry will eventually have an impact on real estate too -
If food delivery apps succeeds in their mission of making good food accessible and affordable to everyone, we will see houses without a kitchen
If remote work continues it's march, we will see hotels/coliving spaces with offices attached to them
If society does not act to reverse the effects of Climate Change, prices of real estate in coastal cities will crash and landlocked cities/countries will be more in demand
Every change to culture will eventually impact the build world around us, and PropTech helps catalyze this change and makes it easier for people and businesses.
I inherently find this exciting. Don't you?
I have earlier addressed PropTech’s hiring problem and explained why attracting great talent to this industry is still a challenge for most companies in this industry.
And as always, pls share this newsletter with people in the industry who might find this interesting :)