For most, FinTech means banks, Bitcoin, and all that good stuff associated with money. But, there’s another industry that FinTech is ready to disrupt: real estate.
This isn’t exactly new.
Real estate has always been closely entwined with banking. After all, few people can get involved in real estate (both as a buyer or investor) with loans. But in the last year or so, FinTech real estate focused brands have been making moves and gaining traction. The exciting part is these brands are looking to disrupt everything from real estate agents to appraisals.
The latest round in huge funding news that has been rolling in the last few months shows how much potential FinTech real estate has.
In this post, I’m going to cover some of those brands the FinTech world is watching.
The UK has been one place where FinTech is all the rage. So, it shouldn’t be a shock they have one of the most exciting disruptors out there in HouseSimple.
The concept behind HouseSimple is, well, simple: they want to help you make the home buying, selling, and renting process easier. It does this by charging a flat fee to help you manage the process. This fee includes home valuation and sales management thus removing realtor costs.
HouseSimple also looks to embrace technology on its platform too. They recently set up a Facebook Live home viewing for the first time.
Cadre was built to appeal to high net worth investors who are looking for commercial real estate properties. The platform approves both sellers and qualified purchasers.
Where Cadre looks to excel is reaching those who have a lot of funds, want to invest in real estate, but haven’t had access to the deals to make it happen. Investors can start at a minimum of $500,000 and invest in ‘shares’ of a property, almost like buying stocks.
VivaReal is the biggest real estate marketing in Brazil. It has over 4 million monthly users, 4 million properties, and lists in 1,000 cities and towns throughout the country. Those are some pretty stunning numbers.
VivaReal has become the biggest real estate disruptor in Brazil. And it’s done so while embracing technology, recently adding a live chat function to its site and app.
The site and app are an all in one portal for brokers, renters, real estate agents, buyers, and sellers. Unlike many portals in the US, VivaReal charges its agents and brokers to post listings.
Wealth Migrate is another technology that looks to disrupt the real estate investing world. Like Cadre, it looks to appeal to those who have wanted to invest but didn’t have access until now.
Wealth Migrate also utilizes blockchain technology in monitoring their transactions, offering (as they claim) world-class security and privacy for investors. The marketplace highlights residential properties as well.
While Cadre is still US based, Wealth Migrate offers investors a portfolio of properties around the world. And, you can manage everything directly from the site.
Real estate isn’t just about buying and selling. There’s a lot that goes on behind the scenes as well, and one part of that is the appraisal. That’s where Bowery is looking to make a move. Bowery calls itself the first ‘tech-enabled appraisal firm.’
Bowery has created its own platform that pulls in available public data coupled with an app that makes the appraisal process quicker and more accurate than ever before. They claim a delivery time of five business days on average, which is the fastest in the industry.
This is good news for many property owners who often have to wait weeks for the appraisal process to be completed before moving on to the next step.
As you can see, there’s a lot more to FinTech than just banking. Many FinTech experts have been looking at the developments in real estate technology over the last few years as the next big thing.
Being able to shake up an industry that is in desperate need of modernization, without losing effectiveness, is something many have been clamoring for.
These are only a few of the brands out there looking to disrupt real estate. More will continue to pop up over the coming years.