INSIGHT

Where to start with Proptech: A practical guide for real estate organizations

Mark Leverette • March 4, 2025

In our recent article, ” How Proptech is changing commercial real estate”, we explored how technology is transforming the real estate industry. While the potential of Proptech is clear, many organizations struggle with where and how to begin their digital transformation journey. This guide provides practical steps for organizations ready to start implementing Proptech solutions.

Understanding the Proptech journey

The digital transformation of real estate requires a methodical approach. While Proptech offers compelling benefits, successful implementation demands careful planning and strategic execution. Here’s how organizations can begin their Proptech journey effectively.

Start small and focused

Begin by evaluating your current operations to identify manual processes that could benefit from automation. For example:

Rather than attempting a complete digital overhaul, select one or two key areas where technology could deliver immediate value.
Consider automated rent payment systems or digital maintenance requests as starting points.

The most successful organizations typically begin with document digitization or basic automation tools. These foundational changes create immediate efficiency gains while building organizational confidence in technology adoption. Start by mapping out your most time-consuming manual processes and identifying where digital solutions could provide the quickest returns.

Focus on operational efficiency

Look for opportunities to streamline daily operations through technology. For example:

Digital lease management systems and automated billing processes offer clear starting points for many organizations.
Avoid quick-fix solutions placed on top of legacy systems, as these often fail to deliver expected returns. Instead, focus on integrated solutions that enhance core operations and create measurable improvements in efficiency.

The transition to digital operations should prioritize systems that can scale with your organization. Consider platforms that offer modular functionality, allowing you to add features as your needs evolve. This approach helps manage costs while ensuring your technology infrastructure can grow alongside your business.

Build transparency and efficiency

Implement technologies that create clear audit trails and improve process visibility. For example:

Smart contract platforms and digital documentation systems can transform traditional processes while reducing manual intervention and improving accuracy.
These foundational improvements set the stage for more advanced Proptech adoption later.

Modern property management platforms offer integrated solutions that combine document management, communication tools and reporting capabilities. This consolidation of functions helps eliminate data silos and creates a single source of truth for property operations. Look for solutions that offer clear metrics for measuring improvement in processing times and accuracy rates.

Leverage data analytics

Begin collecting and analyzing data to drive better decision-making. Start with basic analytics tools for property performance and gradually expand into predictive analytics for maintenance and market analysis. This measured approach allows organizations to build comfort with data-driven decision-making while establishing reliable data collection practices.

Focus initially on gathering data about key performance indicators such as occupancy rates, maintenance costs and energy usage. These metrics provide immediate value while building the foundation for more sophisticated analysis. As your organization becomes more data-savvy, expand into predictive maintenance and market trend analysis.

Address cyber threats

Prioritize cybersecurity from the beginning through robust security protocols and careful vendor selection.

Technology investment should focus on enhancing core operations while ensuring organization-wide cybersecurity. Regular security audits and staff training form essential components of a comprehensive security strategy.

Develop clear security protocols for data handling and access control. Ensure vendors meet industry security standards and provide regular updates and patches. Create incident response plans before implementing new technologies and regularly test these procedures to ensure effectiveness.

Implementation strategy

Successful Proptech adoption requires systematic engagement with the technology ecosystem through industry conferences and peer networking. For example:

Run effective pilots by focusing on existing capabilities and setting realistic timelines. Most importantly, commit to continuous improvement through dedicated resources and thorough staff training.
Create detailed implementation plans that include clear milestones and success metrics. Ensure adequate training resources are available and establish feedback mechanisms to identify and address issues quickly. Regular review meetings help maintain momentum and ensure alignment with organizational goals.

Common pitfalls to avoid

Organizations often stumble by implementing technology without clear objectives or trying to do too much too quickly.

Successful implementation requires stakeholder involvement, adequate training and strong cybersecurity considerations. These elements must work together to create a sustainable foundation for digital transformation.
The path to Proptech adoption requires patience and strategic thinking. Start with clear objectives, focus on core operations and build gradually. Remember that successful digital transformation is about people as much as technology.
By taking a measured approach and focusing on fundamental improvements, organizations can build a strong foundation for long-term Proptech success.

Finally, consider partnering with experienced consultants who can guide your implementation journey. As the industry continues to evolve, those who start their Proptech journey now will be better positioned to compete in an increasingly digital real estate market. The key to success lies in careful planning, measured implementation and a commitment to continuous improvement.

Key takeaways

Start your Proptech journey by identifying and automating key manual processes
Focus on scalable solutions that can grow with your organization
Prioritize data security and privacy from the beginning
Build a foundation with basic analytics before moving to advanced solutions
Invest in adequate staff training and change management
Create clear metrics to measure implementation success
Take an incremental approach rather than attempting total transformation at once

Working with BPM

BPM’s technology and transformation team helps organizations navigate their Proptech journey with confidence. Our consultants work closely with clients to assess current operations, identify opportunities for digital transformation and create implementation roadmaps that align with business objectives.

We help organizations:

Evaluate and select appropriate Proptech solutions
Design and implement secure data management strategies
Create customized implementation plans
Monitor and measure technology adoption success
Ensure compliance and security requirements are met

With deep experience in both real estate and technology, BPM helps organizations successfully navigate digital transformation while avoiding common pitfalls. Our team stays current with emerging Proptech trends and solutions, helping clients make informed decisions about technology investments. To learn more about how we can help you begin your Proptech journey, contact us.