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Real Estate Tech Startups: The Next Big Thing

Ramya GovindRaj

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Real Estate Tech Startups,Tips to Real Estate Tech Startups,Steps to Real Estate Tech Startups,Real Estate technology,Real Estate Startups 2017,Startup Stories,Motivational Business Tips 2017

Real estate has been slow to adopt the technology boom that has gripped the startup industry! Despite the slow evolution, the real estate industry is catching on with the rest of the world and a revolution is coming. Plenty of brokerages are trying to tap into the startup rage in India, changing the face of real estate with their more customer centric approaches, catering to every small problem.

Real Estate technology involves software, applications and tools that integrate brokers, lenders, investors, property owners, property managers, buyers, sellers and mortgage lenders. Satellite imaging is one of the most prominent areas emerging in the sector which allows companies to digitally map areas for excavation and assert whether there are rocks below the surface. Drone sensor data and aerial images are being used to improve mining and site planning to reduce time wastage and make quicker decisions. Technology is also being used to capture data, store and analyze various parameters and predict the quality of construction, the manpower required and other dimensions.

Apart from construction, companies have also turned towards technology to reach out to consumers and enhance operational efficiencies. Many processes in real estate have already begun automation that leverage the power of big data to formulate accurate property appraisals faster than ever. Gone are the days when a property fair was the typical marketing process. All forms of brick, mortar and paper transactions are being replaced with 3 dimensional upgrades and virtual reality.

Breaking an entire industry down to smaller bits, a revolution in the real estate industry is waiting to happen. The boom in the startup culture can promote the technically backward industry to become the fastest developing sector in India. Marketing, pricing, customer relations, property views and visualization along with satellite imaging is just the tip of the ice berg. Marketplaces like Magicbricks, 99acres, Housing and CommonFloor, among others, have already tapped into this lucrative booming industry. After an increase in co working spaces and property rentals, some of the large upcoming sectors in the industry include platforms for networking and networking collaboration among brokers, listing and marketplaces for service apartments, P2P (peer to peer) rental listings and marketplaces and virtual reality based visualization platforms.

While 2014 was the breakout year for real estate tech startups in India, 2016 was the year of consolidation. The real estate market in India is expected to touch $ 180 billion in revenue and investments by 2020. According to a report by CBInsights, the real estate sector saw over $ 2.6 billion in investment around the world and 2017 could very well reach another consecutive funding high. The Indian government’s Smart Cities Initiative and the recently launched contest is also part of the lure for real estate companies to jump on the tech bandwagon.

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Here’s Why Hiring Millennials A Good Idea For Your Company!

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In the upcoming years, millennials will become the largest employee demographic around the world. Millennials are big hustlers who embrace their work with passion and dedication.  They love to explore and opt new adventures. They basically have a sense of fulfillment with regard to everything they desire to achieve. They are highly motivated and have a zeal inside to accomplish their tasks. Their aim is to climb up the ladder of success with immense knowledge and become wiser. However, due to various reasons, millennials find it very difficult to land a good job.

Gone are the days when money was the only motivational factor of a career. Millennials are highly cost effective. They work for lesser pay when compared to the regular workforce. They are pretty much focused towards embracing newer opportunities and progression. Not only that but they are also self driven. Alongside, they are team players! They love to collaborate with people and they get along easily. This work ethic helps all businesses grow as millennials are tolerant as well. Apart from that, they are highly creative with their ideas, generally think out of the box and come up with the best solutions and ideas for the company!

Hiring young minds helps to keep your company up to date with the latest market trends. From marketing to finance, they excel in almost every field with their intelligence and smart work. You could build a relationship and offer millennials an opportunity to grow with your company and in return, they will reward you with hard work and determination.

Listed below are the reason why hiring millennials is a good idea for your company!

  • They are proactive
  • Easy to work with
  • Follows up the latest trends
  • Highly cost effective
  • They are fun to work with
  • They are optimistic
  • They are techno junkies

Today’s competitive market demands the best talent possible! So, in order to grow your workforce and attain maximum productivity, your company should definitely consider hiring millennials!

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Here’s Looking At How Technopreneurs Are Emerging!

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This is the 21st century and technology is taking over almost every field at a very fast pace.

Every now and then, we see a number of entrepreneurs coming up with spectacular innovations that changes the way the world perceives things! Combining the two, in the recent times, we noticed a lot of technopreneurs emerging to take over the startup ecosystem.

So, who are technopreneurs?

Technopreneurs are technology and entrepreneur wrapped up in one term! They are entrepreneurs with a unique set of tools and a great potential for success. Technopreneurs are basically entrepreneurs who are in general technology savvy. Most successful technopreneurs are not born but they are made!

These brilliant minds combine technology with their creative innovations to introduce a new set of products and services. A common misconception is that they take many risks. However, while they do take risks, they only take calculated ones.

One of the prototypical examples of a technopreneur is Elon Musk. From introducing flying cars to launching advanced rockets, he is redefining the use of technology in daily life with his amazing innovations. “Don’t be afraid of new arenas,” is one of Musk’s most favorite quotes.

Mark Zuckerberg, the brains behind the social media giant, Facebook has emerged as one of the most successful technopreneurs of all time. As a technopreneur, it is significant to be technology oriented. However, you don’t have to be a coding expert, but rather, you have to invest in your technical skills and understand the dynamics of your market like Zuckerberg! According to Zuckerberg, “People think innovation is just having a good idea but a lot of it is just moving quickly and trying a lot of things.”

Alongside, technopreneurs tend to be very persistent in nature. You could take a look at Steve Job’s career path to understand that persistence in technopreneurship means sticking to the mission regardless of how difficult the journey seems. Jobs once said, “I’m convinced that about half of what separates the successful entrepreneurs from the non successful ones is pure perseverance.”The undeniable ability to solve problems in innovative ways enabled many billionaires to build their fortunes in the technology sector. Some of the most famous technopreneurs also include Bill Gates, Travis Kalanick, Sergey Brin and Larry Page.

Needless to say, a good technopreneur uniquely combines technology with innovation to make it big!

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You’re Never Too Old To Become An Entrepreneur

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There is no expiration date on becoming a successful entrepreneur. The idea to bring up a new product or a service has nothing to with your age. Becoming an entrepreneur is not about your age but whether you have the drive and creativity to make it happen.

Ideas always do not have to be about developing something new. It can be an improvement on something which is existing in market as well. Your experiences and dedication gives you an edge over others. You probably have a wide network now than before so use it as an opportunity to spread the word about your business ideas. Today’s entrepreneur opportunities are endless and one can explore and bring their ideas into existence with extreme zeal and courage. There are numerous things that can be learned from work and life experience. You are now financially stable and had a lifetime to build a network of connections. Many older entrepreneurs are experts in their field. Alongside, they’ve built a reputation in their industry which is useful when it comes to opening doors for their new business. These striking experiences can be applied to entrepreneurship.

Don’t look for reasons to limit yourself. Look for reasons to give yourself the freedom to follow your dreams.

In fact, some of the world’s most successful enterprises were started by people who were older than you might expect. Henry Ford was almost 40 when he founded his car business, Charles Ranlett Flint started a computing business that later became IBM at the age of 61. You have every opportunity to be successful in a job that you’re passionate about. All you have to do is take the leap.

Never let age define what you can and can’t do. It may be too late to become a professional skateboarder, but it’s never too late to pursue your dream of becoming an entrepreneur. So remember age is just a number!

Let us know what you think about entrepreneurship in the comments below!

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