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• In this podcast, Chris Moreno, Director of US Operations, PropTechBuzz discusses how the REACH Asia-Pacific Program is shaping the future of PropTech with Peter Schravemade, Managing Partner, REACH Australia.
• The REACH Asia-Pacific program created by Second Century Ventures (part of the National Association of Realtors) aims to catalyze the growth of PropTech innovations and enterprises through networking and investment opportunities.
• The most dynamic trend in investments at REACH Australia is currently geared towards dual-stream PropTech solutions that have a larger TAM (Total Addressable Market).
• The REACH program is expanding in the Asia-Pacific region in countries like New Zealand, India, Indonesia, and Singapore.
• According to Peter Schravemade, IoT-connect hardware, and ClimateTech PropTech solutions will be the next big things in the industry.
In this latest podcast, Chris Moreno, Director of US Operations, PropTechBuzz discusses how the REACH Asia-Pacific Program is shaping the future of PropTech with Peter Schravemade, Managing Partner, REACH Australia. Peter Schravemade also leads the REACH Asia-Pacific Program and is the Vice President of the PropTech Association of Australia.Â
With over 25 years of experience in property technology, Peter Schravemade is a renowned consultant in property sales management and marketing. He is regularly featured in top publications and is invited as a keynote speaker at international conferences. His novel approach focuses on debunking industry myths and fostering Innovation. His recent accomplishments include leading the REACH Australia and the REACH Asia-Pacific program. Before joining the REACH program, Peter Schravemade established 16+ brokerages in Queensland, managed operations, facilities, and events in a leading hotel franchise, and served as the global director of sales, marketing, and revenue for BoxBrownie.com, an Australian property marketing firm. He is also a piano player with two degrees in music and applies the principles he learns from music technology to the PropTech space.Â
About three years ago, Peter Schravemade was appointed as the Managing Partner of REACH Australia, a growth accelerator created by the global real estate technology fund Second Century Ventures (part of the National Association of Realtors). The program is aimed at catalyzing the growth of PropTech innovations and enterprises through networking and investment opportunities. As the Managing Partner of the program, Peter Schravemade identifies new forms of technologies, invests in those on behalf of Second Century Ventures, and runs an accelerator program to bolster that investment.
According to Peter Schravemade, the most dynamic trend in investments at REACH Australia is currently geared toward dual-stream PropTech solutions with a larger TAM (Total Addressable Market). PropTech solutions and products catering to at least two different markets or verticals are preferred by investors. Recently, REACH Australia invested in a unique FashionTech PropTech solution. Similarly, FinTech PropTechs, LegalTech PropTechs, ComplianceTech PropTechs, InsureTech PropTechs, etc. are performing extremely well. Peter Schravemade says, ‘I’m incredibly excited about any kind of technology that operates in both spaces and can play in different verticals’.
Under his leadership, the REACH program is expanding to different corners of the Asia-Pacific region. Recently, the program has identified some great PropTech innovations in New Zealand. India is a country that they’re looking at with great favor at the moment. At least one new PropTech is emerging every day from Bengaluru and they are trying to capitalize on these opportunities. There are companies from Indonesia and Singapore in the REACH program and new branches are opening across places like Israel, Latin America, the UK, and Canada.
According to Peter Schravemade, we are in the middle of a generative AI revolution. However, we have not fully explored its potential in the real estate industry. Peter Schravemade also feels that IoT-connect hardware will be the next big thing in this industry. IoT devices have become extremely popular in the residential real estate space and buyers and tenants would pay more for a home with smart facilities. But this trend hasn’t carried across the commercial spaces except for in larger areas like mining sites and larger industrial facilities that use digital twins in their operations. As the barrier to entry keeps getting lower and lower, IoT-connected hardware will become more pervasive due to its ability to make properties smarter, more efficient, and safer. Another future trend that can observed in the PropTech industry is ClimateTech. Peter Schravemade and the REACH team regularly receive applications from PropTech companies developing climate-oriented solutions. Various PropTech innovations are trying to address the sustainability functions in buildings, ensuring their structural integrity, and predicting how buildings will respond to extreme weather events. These PropTech innovations have a huge role to play at a time when governments across the world are introducing new sustainability guidelines for real estate.
According to Peter Schravemade, the PropTech scene across the world has tremendous challenges and opportunities. However, he is confident that PropTech innovations will usher in a sustainable and well-connected future. PropTech will be decisive in breaking down barriers between different countries and regions and driving global market growth in real estate.Â
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By Proptechbuzz
By Ravi Kumar