Tech isn't the problem in real estate: it's the people selling it

Ninety per cent of property professionals say they're ready to invest in new tech. Surprising? Not if you actually work in real estate. The industry has gotten a bad rap as tech-resistant, but that's not the whole picture. 

If you're in real estate, you know that you're not fighting against technology as much as you're fighting against being sold the wrong solutions by people who don't get what you actually need. Because in any market, having the right tech makes the difference between struggling to keep up and leading the pack. And it's no different for real estate.

The real story behind real estate's "tech problem"

Talk to any property professional right now, and they'll tell you they're done wasting time on pointless admin. They want to stop drowning in lease abstractions and planning applications, quit manually extracting data from stacks of surveys, and focus on what actually matters: closing deals and growing their portfolio. And they don't hesitate when someone shows up with tech that actually understands the nuances of real estate.

For too long, real estate has been treated as an afterthought by some tech companies. They show up with generic solutions, barely tweaked from other industries, pitched by people who've never spent a day in property. Then they wonder why they're met with skepticism.

What generic tech gets wrong about real estate

So, what about those supposed 'all-in-one' solutions that solve nothing? A good place to start is with generic tools that can't handle lease abstraction or make sense of complex planning applications. Systems that treat property surveys like simple checklists and can't distinguish between different types of real estate documents. Platforms that think extracting data from property documents is the same as scanning a basic sales contract.

Ever tried explaining to tech support why you need different workflows for build-to-rent versus residential sales? Or why your asset management platform needs to understand both property performance and tenant relationships? Good luck with that.

The worst offenders are:

• CRMs that treat properties like products on a shelf
• Document systems that can't handle complex lease structures
• Project tools that don't understand construction timelines
• Reporting software that misses important property metrics
• Communication platforms that ignore tenant management needs

The likes of Salesforce and Hubspot are prime examples. You’re given the impression they do it all, but in reality they lack any speciality features for real estate workflows. Property professionals need tech that speaks their language much more than another subscription to a glorified spreadsheet.

It’s time to flip the script

Maybe it's about time we looked at this differently. Real estate  people aren’t tech-backwards, and it's sitting on some of the world's most valuable data. From market trends to buyer behavior and property values to demographic shifts, this stuff is a goldmine of information. Property professionals know it too.

But when you've got people trying to sell you solutions who can't tell the difference between asset management and property management, of course you're going to raise an eyebrow.

Property professionals are done with generic tech that creates more problems than it solves, and this can make them seem tech adverse. The reality is they want solutions built specifically for real estate, by people who understand what keeps them up at night. And they're ready to invest in tech that actually delivers.

Why real estate needs tech built by insiders

When you're working in property, you're juggling complex tasks daily like extracting key data from hundreds of documents, staying on top of market trends, managing risk assessments, and ensuring compliance across different regions. Generic tech tends to treat each of these like simple checkboxes. But anyone who's worked on a major real estate project knows it's never that straightforward.

Deep industry knowledge matters

Real estate tech needs to understand the difference between service charges and sinking funds, or between lease renewals and rent reviews. It needs to know why the balance of tenants matters in retail and how yield calculations vary by sector. Most importantly, it needs to anticipate problems before they happen, something you only learn from years in the industry.

Property isn't just another sales process

Build-to-rent operations aren't the same as selling houses. Asset management isn't just about tracking numbers. Development doesn’t follow a linear project timeline. Real estate tech needs to understand these nuances and or have a product that's flexible enough to accommodate. 

The stakes are higher

We're talking about billions in assets, complex legal obligations, and long-term tenant relationships. Tech solutions must understand the real risks and responsibilities involved. A missed deadline or overlooked clause can cost millions in lost revenue, damage valuable tenant relationships, and put entire development projects at risk. Get it wrong, and multiple problems arise, from losing money to losing market credibility and future opportunities.

The future is real estate ready

Right now, the property sector is full of opportunities. At  Fifth Dimension, we’re showing what's possible when tech (specifically AI)  is built for real estate's unique challenges. The old perception of a tech-resistant industry needs to be kicked to the curb.

We’re using Ellie, our AI, to act like a coworker and help real estate professionals with:

• Simplifying complex documents and extracting data at lightning speed
• Spotting risks before they become problems
• Streamlining portfolio management from end to end
• Turning planning applications from headaches into wins
• Converting market data into competitive advantages

The companies that win in the next few years will be the ones making smart tech choices today. That means picking solutions built for real estate by people who actually understand the industry.

Making the leap

When tech gets real estate right, real estate gets tech right. The industry isn't stuck in the past and has been waiting for solutions that actually make sense.

Property leaders want to make their move; they just need a little encouragement with the right approaches. That involves dumping the generic tech that's holding them back and embracing solutions that understand their world. At one time, the question was whether you should make a change. Time to ditch the generic tech and level up with solutions that actually get real estate. 

Ready to make your move?

‍