We often praise the advantages that proptech platforms offer in terms of flexibility and efficiency, but the accessibility benefits can be overlooked.

What do I mean by accessibility here? I mean the quality of being easy to access, understand and use by anyone, regardless of their means or ability.

Personally, I think that proptech’s potential to make property investment a viable opportunity for millions, if not billions, of people is one of its greatest assets. By enabling a personalised, customer-centric approach, proptech can make it easier to accommodate the needs of every type of investor in an efficient and effective way.

So, how exactly do I see proptech helping to democratise the real estate investment landscape?

Removing physical barriers

Video tours are great when it comes to accessibility, but technologies such as virtual reality (VR) and augmented reality (AR) are changing the game. Proptech players are now able to deliver remote yet immersive digital viewing experiences from anywhere in the world.

Prospective investors can use these tools to navigate premises, inspect finishes and gain a sense of the space on offer without having to be physically present.

From people of determination, who may find it difficult to visit properties in person, to overseas investors, this functionality is proving especially beneficial in bringing real estate opportunities to a wider audience.

Seamless digital experiences

I believe legacy systems and heavy, paper-based administrative workloads – often requiring an investor’s physical presence – have held too many people back for too long in real estate.

Another accessibility advantage of many proptech platforms is their digital documentation and transaction functionality. These new digitalised systems allow prospective investors to review contracts, make offers and sign on the dotted line remotely and, most importantly, securely.

Accessibility features like these negate the need for physical paperwork, meaning users can manage their portfolios effectively regardless of where they are in the world. This is just one example of how, through the use of AI, big data and cloud-based applications, proptech is constantly evolving to further improve investor experiences.

Financial flexibility

One of the most important accessibility-related benefits that proptech offers relates to financing and investment options.

Rent now pay later (RNPL) and fractional ownership mechanisms, such as those offered by PRYPCO, are helping to bring real estate to an ever-wider audience of people who might otherwise be excluded.

At the same time, these platforms are acting as central hubs, enabling users to track their assets, monitor their income and assess value appreciation all at their own convenience.

In short, the novel financing and investment opportunities provided by proptech platforms are opening up real estate to more and more people, making it accessible to individuals who potentially lack the funds to rent, buy and invest through traditional real estate channels.

A more accessible market

By leveraging advanced technology, proptech platforms are helping to reimagine outdated practices in the real estate sector. What does all this add up to?

Through fractional ownership and investment, the introduction of novel financing mechanisms such as RNPL, the digitalisation of paper-based processes and immersive remote viewings, this sector is helping to create a more dynamic and democratic property market – in particular, one that is accessible to those who may lack the capital to pursue traditional investment paths.

Of course, traditional real estate channels are in no danger of being replaced anytime soon – but that’s not the point. The point is that proptech is supplementing these channels by making real estate investment a realistic option for more people around the world, which can only be good news.

As a result, more people than ever before now have an opportunity to actively participate in one of the most exciting sectors on earth.