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Posted on 06 Apr 2017
Welcome to PropTech 2017!
To download the powerpoint, click here PropTech 2017: Welcome
Thank you for joining us this morning. I am Sam Baker, chief executive officer and co-founder of StreetSine Technology Group.
Our technology is dedicated to the proposition of serving our clients and partners with efficient and productive PropTech.
Many of you in this room are our clients and partners, and I appreciate your business and confidence in us.
When you use StreetSine and SRX PropTech to serve your clients, everyone benefits from superior expertise, service, and products.
This is a working conference designed to help real estate industry professionals match property technology with value creation for intermediaries, consumers, suppliers, and regulators.
Our theme is PropTech 2017: Connecting Real Estate Consumers and Professionals.
Some of you are already successfully leveraging Big Data and PropTech Applications to enhance your expertise and create even more value for your clients.
My hope is that, for those in this category, you will find that this conference affords you the opportunity to reflect on your current technology strategy and tweak it as necessary.
For others, you might be skeptical of new technology or even concerned that it will replace you and your business model.
The media likes to sensationalize disruptive technology, claiming that it will replace intermediaries and middlemen, like real estate agents, mortgage brokers, and insurance agents.
This can create unnecessary fear in the real estate and financial services industries.
This conference will unpack reality from hype when it comes to technology and show that PropTech is not replacing intermediaries as long as they choose to take advantage of technology to raise their expertise and service. PropTech is an important industry and often underappreciated when compared with its sister FinTech.
This is strange considering that PropTech touches everyone.
As this graphic shows, there are four major cohorts that are impacted by PropTech: consumers, professionals, suppliers, and regulators.
As we move through this conference, I ask you to think about each group’s needs and how Big Data, technology, and regulation help them.
For example, every consumer requires the Right Property. A quality listing and X-Listing Price valuation help them buy the Right Property at the Right Price.
Regulators are interested in ensuring that all consumers receive transparent pricing when deciding on whether or not to buy a home.
We have included a study guide in your goodie bag for you to complete your own needs analysis of each of the four groups.
The basic format of this conference is simple.
Julian Tan, Head of SPH Digital Dvision, will introduce the evolution of technology and Smart Nation. Among other responsibilities, Julian is responsible for managine SPH's strategic digital relationships around the world. He is well-positioned to common on technology and Smart Nation as he is living it every day.
Julian will then turn the rostrum over to Dr. Davin Wang.
Davin is a Lecturer at the Department of Real Estate (DRE) at the National University of Singapore (NUS) and appointed research affiliate at the Institute of Real Estate Studies (IRES). Prior to academia, Dr. Wang has held senior positions in both private and public firms such as Singapore Airlines (SIA) and the Economic Development Board (EDB) of Singapore covering roles related to technology, real estate and investment.
His research interests include real estate finance, behavioral economics and technology applications in real estate such as smart homes and smart buildings. Examples of his research on technology applications in real estate include building HVAC systems that are driven by machine learning algorithms, smart devices that optimize water consumption in homes and behavioral issues in relation to online and offline real estate transactions.
Davin has three graduate degrees including a Ph.D. in Finance from Monash University, Masters in Finance from City University of New York as well as a Masters in Real Estate from NUS. He received a B.Sc. Industrial Operations Engineering honors undergraduate degree from the University of Michigan, Ann Arbor.
After Davin, we will move into our first roundtable. Each roundtable consists of business owners and professionals who will have a conversation on how technology is changing and shaping consumers, professionals, suppliers, and regulation. I will moderate all four discussions.
In between the roundtables, I will have a conversation with StreetSine’s co-founder and chief technology officer, Jeremy Lee. We will discuss the role of computers and human valuations in property pricing, negotiations, and analysis.
Also, we will show a video on the book The Middleman Economy: How Brokers, Agents, Dealers, and Everyday Matchmakers Create Value and Profit.
In her book, author Marina Krakovsky asserts that in the Digital Age, most of us are now intermediaries; and those who will succeed are those Middleman who reinvent their expertise in order to deliver greater value to clients.
The topics we have chosen for PropTech 2017 are large and important for everyone one in this room. At the end of the conference I will summary the findings of our needs analysis. Then, I hope you will join us for a free networking lunch.
We have much to cover so let’s get on with the show. Over to Mr. Julian Tan, head of SPH Digital.
To find out more about PropTech 2017. check out srx.com.sg/proptech