With so many new proptech startups, Real Estate Companies have to define a digital transformation plan, focused on adding new digital capabilities to help capitalize on mobile, social and big data. It is not a matter of picking some Proptech solutions and added to the day to day business. There must be a roadmap for digitalization, not only in the product (buildings) but also in the company (employees, internal procedures, marketing, legal, etc). Today, technology-enabled disruption is compelling companies in all industries to think and act more like technology companies. Incremental, front-end changes are no longer enough—the new real estate business ecosystem demands the rethinking of most companies’ strategies from start to end. A shift in organizational approach to digital over the recent years indicates that some companies have become increasingly aware that they must eliminate structural barriers to realize the opportunities presented by technology enablement.
The next step is how to evolve from "be aware" to "be a front runner in digital transformation".