As returning Gold sponsors of Property Week’s annual RESI Convention, Yardi firmly put a PropTech-shaped stamp on the agenda. Bringing together an exciting panel of residential technology leaders for an hour of technology expertise and digital transformation case studies, RESI goers watched insights from LandTech and their client Flamingo Investment Group; Homeviews and client Fizzy Living; Yourkeys and client London Square.
Ahead of the case studies, Justin Harley, Regional Director of Yardi and James Dearsley, Co-Founder of Unissu introduced the session with some thought-provoking insights on the residential PropTech landscape.
Dearsley set the scene by defining PropTech, “PropTech is one small part of the wider digital transformation of the property industry. It describes a movement driving a mentality change within the real estate industry and its consumers regarding technology-driven innovation.”
Drawing on insights from Unissu, Dearsley pointed out that innovation in residential PropTech is driven by ‘emotional development’. He expanded that this comprises of three elements, how consumers of PropTech demanding transparency, affordability and self-service/control.
Innovation is a was a key focus throughout the session, supported by Justin Harley of Yardi who explained “15% of Yardi’s turnover is invested back into product development which is exciting because we see great innovation. We listen to our clients, but we also listen to ‘non-clients’.”
To conclude the fireside chat style discussion, Harley posed the question, “James, what are your top three tips for residential operators in getting the most from PropTech?”
“1, Talk to customers and understand how technology can support their journey, 2, Don’t be afraid to fail – give honest feedback if it’s not working and 3, Talk to PropTech suppliers to fully understand what they offer” Dearsley replied.
If you missed the session at RESI and would like to watch the full recording, please click on the video below.