What kind of tech is missing in the property industry?

Hi all,

What do you think is missing in terms of tech in the property industry compared to other industries?

Personally, I think it would be cool for the property industry to have something like simplywallstreet.com but for property market. What do you think?

What else could be useful for investors ranging from die harders to investors who don't want to spend too much time researching?

 

There is the issue of variability that applies to property. Not just the property itself but its occupancy issues, and the issues of each owner. eg land tax is based on ownership as are many costs such as duty, surcharges etc. The owners marginal tax rate, the owners age and much more. eg Two owners can seem the same but one is single and paying child support. Another is married with a wife and they both earn big $$$ and have no kids. Affordability and financial capacity is a bigger driver of purchase choice than the property availability and its price.

You see this when buying. Many people buy based on what they can afford.

 

Not really, people don't buy second hand cars as investments or to live in them.

 

One big difference, a 2007 Toyota Camry is still a 2007 Toyota Camry (no discernable difference with the next one other than colour/condition) but 47 Smith Cl Bogantown with a north facing backyard at the end of the cul de sac with a 20 year old Clarenden project home & drainage easement is different to 49 Smith Cl Bogantown with a south facing backyard at the middle of the cul de sac with a 20 year old Clarenden project home even though both blocks are of similar size, house age, facilities available, proximity to services/shops/transport/paved footpaths/treelined street etc.

 

I do look at motor vehicles from the investment perspective but not so much as a place to live. Not these days.

Unless I go on holidays up the coast. So I could call my car a transportable holiday house. It’s convenient and saves money.

Beats the hassle of booking a motel online when you can just pull over on a street in Toukley and snooze off.

 

Hi sullo - as someone who is actively engaged in the property investing and technology space, I think what is missing is something similar to what people use for trading in financial markets (e.g. share trading platforms) - they provide ability to track your share trading portfolio, perform transactions (buy/sell), and research specific stocks. Property investing is a bit different given that the markets don't change or get tracked on a daily basis, and the fact the assets are not liquid. Also, agents facilitate the buying/selling of properties whereas share trading platforms can do this digitally online.

My business PropertyDirector.com.au very much focuses on this area, and is based on the idea of a single dedicated platform for property investors offering products as a digital book keeping platform, giving investors access to research reports and innovative forecasting features.

One other place where people have recently innovated in this area is the idea of 'bricklets' which allows investors to purchase 'part' of a property (sold as bricklets), meaning people can get in to the property market without a massive capital outlay. I see more of these types of innovative ideas being introduced to the market in the coming years and will be staying across this space actively.

 

Hi @sullo

I brought this thread to the founder and CEO of SWS's attention as I know him. He had this to say:

"generally speaking most property investors are not perpetually looking and reviewing the properties in the same way that stock investors are.this is a generalisation I'm sure some property investors are extremely active but compared to the average stock investor there's a huge difference. the average property investor might have a handful of properties in their portfolio where is the average stock investor might have more than 25.potential customers is actually a lot smaller, therefore if such a platform did exist it would need to be far more expensive. the other aspect is availability of structured data which is not the same between property and stocks stocks of companies have to submit quarterly forms and the data is standardised so can be compared which is not the same as properties."

HTH

 

Something makes tax return easy.
It needs to connect different PM's accounting software and also our bank and CC accounts.
Something similar to sharesight.

 

i think you need to check the prices of 2nd hand car before you make a statement they dont appreciate

one major difference is you can live in a car but you cant race a house.

 

The "Bogan Line" - mapping tool.

 

Impossible with current technology. Its like automating medical procedures. The brain on the end of the stick is where the true work occurs

And I think that is also a element of property investing. Smarts, timing and strategy also play a factor in property investing. And a little luck sometimes. I have seen people with brilliant property forced to sell when life turned sh77y eg lost wife, job, illness etc. I see people plan strategies around maxing debt who are geared up the whazoo forced to sell and also see others who could buy two properties but chase a lower LVR as that is their comfort.

 

and make it this tool for FREE

 

That's a decent list. Are there any available resources out there which show the addresses/ locations of public housing in a given area?

 

No entirely true, each integration is different and that means more than likely client specific or PM specific. It'll be extremely hard to keep on top of when companies change software..

 

Try microburbs they have an overlay.

 

Thanks. Unfortunately the issue with microburbs though is their data is years out of date.