![]() The result is that society shall have more robust and more user-oriented offerings of property goods and services. Whereas the property sector largely was dominated by a product-focused supplier mentality, the major change forces are shifting more and more access, power to consumers. Understanding the forces leading to that change and the implications of that change is essential for effective property involvements in the twenty-first century. The property market participants who long relied upon, while many property market participants prospered in relying upon long established practices – in some ways more reminiscent of a medieval guild than a contemporary long-standing practice with little attention to, or need to, be concerned about change forces – those circumstances have profoundly changed. ![]() In recent decades, the circumstances changed dramatically the property sector is rapidly making up for the lost time. The paper uses action learning and interviews, literature review, thought experiment and comparative/conceptual/qualitative analysis.įor two centuries, the property sector was essentially “exempt from” and essentially a passive by standing in the industrialization and innovations that transformed the economy. The purpose of this paper is to explore the significant structural forms and influencing factors that shape the adoption of technology advances and innovations in society, generally and the property sector specifically. Keywords: Proptech, Real Estate Brokerage, Dubai, Role of the Broker, Disintermediation. This research contributes to the existing academic literature by providing valuable insights into a relatively new topic of Proptech in the context of real estate market of Dubai, an ever developing and growing city. The possible link between brokerage quality service, Proptech and real estate broker/agent disintermediation was explored, highlighting the tremendous possibilities for digital platforms as well as importance of human touch and invaluable advice of a professional broker. ![]() The legal framework around the use of Proptech has proved to have a substantial impact on its development. Research has shown that multiple companies have adopted some of these technologies in one way or another, however the government certainly is leading the role. This research reveals the case study of Dubai, aspiring to be one of the most “tech- savvy”, “smart” and developed cities in the world, by involving various local and international real estate market leaders (brokerage, property valuation, consultancy, Proptech developer, property developer etc.) in thorough interview discussions around the implementation of technology, benefits, risks and regulations around it. Proptech has been a “buzzword” in the real estate industry for couple of years now, involving both - practitioners and academics into an attention-grabbing debate about the term, its usage and ultimate impact on companies’ bottom line.
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