Even in an era of startups, digital disruptors and online everything, traditional established companies don’t have to take a backseat and get left behind. Instead, they can face and fight the competition, and do things a notch better with their experience and expertise, which fly-by-night newcomers may not have.
For instance, within the OrangeTee group, OrangeTee & Tie, Singapore’s third largest real estate agency with its 4,200-strong team of property agents work, communicate and research on its digital assets such as in-house Agent App, Property Agents Review portal, digital marketing tools and many more.
Mr Steven Tan, OrangeTee & Tie's managing director mentions a new term "TechProp" often, believing that it is the future for the traditional real estate companies or even the industry.
What then differentiates a TechProp company from the more commonly known PropTech ones?
“PropTech companies usually focus on narrow functions or segments with high friction level or those underserved by traditional real estate companies. Their aim is to provide a better experience using digital technologies to reduce costs, increase revenue and remove friction. Hence, many Proptech companies are also the disruptors of our industry.
Adapted from The Straits Times 21 February 2019