To stay relevant in the changing landscape, builders must embrace technology. Here’s a closer look at the threats, opportunities and obligations of PropTech.
The evolution of home ownership is happening. The question is, are builders ready to show up and compete in the changing landscape?
A lot of high-level trends are being incorporated in builder communities, which isn’t a new occurrence. However, the technology piece benefiting the consumer and how startups are disrupting the industry does need to be discussed and in greater depth.
Builders that rely on outdated selling methods won’t have the innovation arm required to compete with nimble and heavily-backed PropTech startups. But that’s okay. Builders don’t need to compete per se, but they should leverage this technology to maintain or grow market share; acquire customers, service those customers in a modern way, reduce the build timeline and increase profit margins and to remain competitive.