The age of “checkered notebooks” is over, it’s worth thinking digitally

If a market is changing, the value of digital solutions will increase, measurability, monitoring of ESG criteria, controllability of energy systems, the use of real-time visual data tables and people within the organization who understand the interpretation of these data will be essential.

Last year, Proptech Hungary scrutinized the technological solutions, it has nearly 130 proptech solutions from the domestic market and hundreds of international examples in its scope. This year, the focus has shifted much more to the real estate market, focusing on pain points, driving forces, and why. As a first step, he launched a digital survey, from which he receives feedback regarding the digital maturity of the real estate market: link to the questionnaire. By filling out the questionnaire, we see a snapshot of where we are in this transformation process.

It also shares the results of gap-filling research with the public, because its mission is to educate and help the market, speed up digitalization, and use it effectively. Based on research, proptech is 8 years behind the fintech market, not only in Hungary, but globally, but we can already see the acceleration and the spread of technologies in the last 2 years.

There are many reasons for this lag, including the success of the market, which was not associated with digitalization, the sufficiently inflexible market, where changes can be perceived with either a positive or negative phase shift, and the demand for transparency was relatively low. This is changing, but the digital transformation will not take place overnight in the market, in companies, it is a very long process that begins with the formulation of problems, after the preparation of the environment (data tables, systems) continues with strategic creation. One of the characteristics of the technology is that most systems can be connected to each other (if they have a suitable API or automatic programming interface), thus correlations, trends, and conclusions can be drawn from the system.

Digitalization does not mean that I start using proptech solutions, it is a kind of holistic point of view change, first I have to change myself, then the company culture and finally the whole organization.

Digitization is not a top-down process, but a bottom-up process, i.e. we have to change ourselves, we have to change and develop first. It cannot be forced, the entire organization must go through a process of change. Let me illustrate the situation with the case of the “checkered notebook”, why we need to understand that it is ineffective: we record written text in a notebook that cannot be searched or retrieved, the written note was probably written down because it is important and we have something to do with it (forward it, explain, call, etc.), the task is not created automatically (as in the digital space).
If we ourselves understand the meaning and significance of digitization, we will guide our company through the digital transformation much faster, so that an efficient, measurable and predictable organization is created, which will compete with the challenges of the 21st century and will be much more adaptable to changes.

About Proptech Hungary
The structure of the proptech ecosystem helps the digital transformation, the aim of Proptech Hungary is to educate the actors of the real estate market and help the faster spread of digital solutions. We cooperate with the proptech organizations of the markets of the neighboring countries, especially in the Central and Eastern European region, with the largest professional associations of the domestic real estate market, with the domestic real estate market companies, and we constantly research the latest proptech trends and companies.

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