Technological revolutions are changing industries decade after decade, and the real estate industry is also not left behind. The global PropTech market is projected to experience a robust compound annual growth rate of 15.8% between 2022 and 2030, culminating in a market value of USD 94.2 billion by the end of the forecast period. 
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Relata is India’s leading proptech force, offering end-to-end solutions for all real estate problems. Over the span of 4 years, Relata has worked with India’s top real estate developers like House of Hiranandani, DLF, Dosti, etc. as the proptech industry keeps growing. Relata is ready to embrace the future with its next-generation product solutions. In a recent candid conversation with the CEO of Relata, Samudragupta Talukdar (Sam) revealed the future of real estate sales and how Relata is ready to take the proptech revolution to the next level. ‍

The Reality of Realty’s Economy ‍

Recent years have witnessed significant expansion in the real estate market, with forecasts suggesting an increase from $4.01666 trillion in 2023 to $4.3149 trillion in 2024, demonstrating a substantial compound annual growth rate (CAGR) of 7.4%. 
It represents a significant portion of the global GDP, as Sam rightfully mentioned: “Realty is a major pie of the world's GDP." 

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However, the existing processes are fractured across the ecosystem, hindering efficiency and growth potential. Sam emphasized the need to address the fragmented ecosystem by focusing on two critical pillars: engagement and exploration, and deal closure and processing. But the real estate growth story is that even after these gaps in the system, the market is on an upward trajectory. Nevertheless, to maintain this momentum, it's crucial to implement a solid framework. With their wealth of industry experience, Samudragupta and his outstanding team have pinpointed critical areas for potential pivots. These changes will pave the way for the future of real estate success. ‍

Tech Transformation Essentials:

1. Efficient Funnel:

‍Real estate developers have a lot of data on customers, but oftentimes it remains scattered across various platforms, from Excel sheets to paper records, leading to missed opportunities for behavioral analysis. This is exactly why an efficient funnel management system is required. ‍

2. Intuitive Exploring and Customer Buying Experience:

It is alarming how negligent most real estate developers are about the customer buying experience. This is where technology should intervene. ‍

3. Improving Engagement with Added Analytics:

The absence of engagement analytics tools creates a gap in exploring the power of business and behavioral analytics, which is extremely important in today’s time. ‍

4. Automation and Integration:

‍Manual processes can lead to prospect leakage and operational inefficiencies. This is where the need for automation and integrations with other cutting-edge tech offerings come into play. ‍

5. Extended Visualization:

Engaging and powerful visualization is required for better customer acquisition and decision-making.

6. Empowering Partners and Realtors:

Last but not least, empowering partners and realtors and how we are taking them forward in terms of technology.
In our detailed discussion, Sam also unveils tomorrow’s top proptech trends and how Relata Vision for the Real Estate Industry, Let's find out the top proptech trends to look out for. ‍

Exploring Future Tech Trends in Proptech: How Relata Stays Ahead of the Curve 

Artificial Intelligence in Customer Experience:

‍With AI-driven assistive conversational models, you have a 24/7 solution at your fingertips. In real estate, the challenge lies in accessibility outside standard office hours. But with AI, serious buyers can engage at their convenience, whether it's after hours or before the start of the workday.
“This is the future of technology, where you need to connect faster, autonomously, at any time.” Samudragupta Talukdar. 

Relata approach with Reiya:

‍It is a generative AI virtual assistant to help ease communication and engagement for customers. This is your smartest, multilingual real estate assistant. It can help you with:
1. Smart conversational interaction with accurate information (24 x 7). 
2. Multiple language support and analytics. 

Extended Reality:

‍With VR/AR integration, customers can visit your property from the comfort of their homes. They can explore and customize units as if it's their home before they even reach out, making them more invested in the property. ‍

Relata solution: visualization and engagement:

Now fuel customer engagement with our 360-degree tours, transforming home buying into an interactive adventure. Relata visualization comes with a wide range of features, like: 
1. Guided Tours and Interactive Maps 
2. The digital twin of the physical site experience 

Analytics and Data:

‍Engage with customers with analytics-driven insights and understand the silent requirements of your qualified leads. It's actually, why do you need a dashboard? What you truly seek is enhanced engagement, which can lead to closures. 
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More Relevant, Data-Driven Engagement with Relata Analytics

‍Revolutionize payment and inventory tracking with smart automation and a buyer-friendly self-checkout. Gain profound clarity into prospect acquisition, campaign performance, and team productivity to drive your business forward with Relata Data Analytics and features such as: 

1. Sourcing and Closing Performance Tracking 
2. Get deeper insights into lead behavioral analytics. ‍

Artificial Intelligence in Presales:

‍Automatically Qualify and Assess Leads with AI-Driven Insights from a Combination of Analytics Data and AI-Based Presales. Now you can qualify leads faster with intelligent assistance. ‍

End-to-end Relata Automation: Sourcing and Lead Management

‍The vast range of Relata solutions provides a complete end-to-end experience, from pre-sales to booking. Like lead sourcing, segmentation, and qualification across sources, all to maximize conversion potential. ‍

Community:

‍With cutting-edge technology and next-gen buyers, building community and experiences around brands or projects will accelerate early novelty sales. 

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The Relata angle with the C45 app-

‍Relata CP application provides a seamless digital onboarding experience for brokers and channel partners, streamlining engagement and facilitating collaboration. The key features of this product are:
1. Relata enables businesses to engage with partners and share project details, facilitating effective communication.
2. Partners can view targets, add, and monitor the status of leads while tracking brokerage disbursals, providing transparency and accountability.

With products like the Payments & Inventory Suite or the Automated Onsite Suite, Relata is on the sole mission to automate the system by eliminating the roadblocks in the ecosystem. In the ever-evolving world of real estate, embracing technology isn't just an option; it's a necessity. With Relata leading the charge, the future of Proptech looks brighter than ever before. So, are you excited about the future of real estate sales? Stay connected with us for future real estate updates. 

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