Fireside Chats: Pioneering PropTech Innovations for Estate Agents
3 minute read
Jon Stein, founder of Vaboo, and Alessio Scannicchio, founder of ScanSan Properties, share a common mission: empowering estate agents to provide exceptional customer service through innovative platforms. As staunch advocates for enhancing the agent-client relationship, their respective solutions are transforming the real estate landscape.
The video has been edited for brevity, without alteration to the views of the speakers.
ScanSan Properties: Bridging Global Connections
ScanSan’s role in the real estate market is about facilitating connections between global property investors and landlords, As they bridge gaps and facilitate transactions (particularly in the UK - where investing in properties from abroad can be challenging!) they can be seen leveraging their proprietary AI and blockchain technologies. Their Property Assistant empowers agents with quick and comprehensive insights into areas across Greater London, thereby streamlining decision-making processes and supporting agents in their role as expert when engaging with customers.
"We make sure the two parts of this world in the property market know each other and what they are going to do." - Alessio
Vaboo: Elevating Customer Engagement
Vaboo’s mission to improve the image of the private rental sector while enhancing customer engagement, serves as a customer rewards and engagement platform for estate and letting agents, offering exclusive discounts and incentives to tenants and landlords alike. By focusing on customer satisfaction and loyalty, they help agents differentiate themselves within the competitive landscape, ultimately driving business growth and fostering positive perceptions within the industry.
"Our original mission statement is about improving the image of the private rental sector… and we’re getting a lot of data around the customer experience." - Jon
ScanSan Properties: Harnessing True AI
Unlike companies that merely analyse existing databases, ScanSan employs advanced AI to forecast market trends and provide actionable insights. The importance of leveraging true AI capabilities within operations can’t be understated - breaking the “feedback loop” of generative AI is crucial in providing actionable insights to agents that can be trusted by the agent and the end-customer alike. By utilising AI beyond surface-level analysis, ScanSan drives strategic decision-making and business success with deep machine learning and insights that can only come from working with a truly teachable AI model.
"We use proper AI because some companies just analyse the database they have and make predictions. We use AI to understand everything related to areas and cities." - Alessio
Exploring Collaborative Opportunities
Recognising the complementary nature of these platforms, there are potential areas of collaboration and synergy. Opportunities to integrate AI-driven market insights with customer engagement strategies could unlock new avenues for innovation and growth within the industry.
"So it's not about taking tech and replacing those face to face conversations. It's about how tech can assist with those face to face conversations, and more." - Jon
Challenges and Opportunities Ahead
Amidst the optimism surrounding these ventures, there are also challenges inherent in navigating the PropTech landscape. From regulatory hurdles to technological complexities, the importance of agility and adaptability in overcoming obstacles and seizing opportunities can’t be over-emphasized. Furthermore, there is significant work to be done as leaders in fostering a culture of innovation and continuous learning within these organisations.
"Whatever they choose to invest their money in to improve their service isn't going to give them overnight results ... And I think the more suppliers to the industry talk about that, the easier it'll actually be for everybody." - Jon
Key Takeaways and Insights
- Diverse Applications of AI: While ScanSan Properties actively integrate AI into their operations, Vaboo recognises the potential for AI utilisation in enhancing their platform further. There are varied approaches within the PropTech landscape, and a hunger for tailored solutions to address specific industry needs.
- Customer-Centric Solutions: Vaboo's emphasis on customer engagement and satisfaction aligns with the broader industry trend of prioritising tenant and landlord experiences. By offering personalised rewards and incentives, customer engagement platforms can foster long-term relationships and improve the overall image of the real estate sector.
- Collaborative Innovation: The potential for collaboration and synergy among PropTech ventures means leveraging shared resources and expertise, so that founders can drive greater efficiency and innovation within the industry, ultimately benefiting clients and stakeholders alike.
- Strategic Decision-Making: Insights from an AI-driven market analysis play a crucial role in informing strategic decisions, especially for investors and agents looking to expand their portfolios or attract new business.
These valuable insights into the transformative potential of innovation and collaboration within the real estate space highlight the need to continue collaborating as founders across the PropTech space. As we continue to pioneer new approaches and technologies, the the future of real estate is being shaped, redefining traditional practices and driving business growth in the digital age.
To try Vaboo for free, click here. To sign up for the ScanSan AI Property Assistant pre-release waiting list, click here.
