How Proptech is Transforming Data into Meaningful Relationship Management Strategies

The real estate industry is a major contributor to the world's GDP. The current Indian real estate industry is estimated to have a market size of $0.33 trillion. By 2029, it is expected to reach $1.04 trillion, demonstrating a  compound annual growth rate (CAGR) of 25.60% during the forecast period. We're witnessing unprecedented expansion. Yet beneath this growth story lies a fragmented ecosystem holding back its true potential.

Real estate processes remain fractured across the buyer journey. Having worked closely with India's top developers and real estate firms over the past four years, I've seen firsthand how technology can bridge these gaps.

The Data Challenge in Real Estate

Most developers sit on mountains of customer data scattered across Excel sheets and paper records. This fragmentation prevents meaningful analysis of buyer behaviour and preferences. The result is missed opportunities and disconnected customer experiences.

Consider this: When a potential buyer shows interest in a property, their data often doesn't flow seamlessly through the sales funnel. Their interactions with virtual tours, specific questions about amenities, or neighbourhood preferences get lost in translation.

The key question becomes: How can we transform this scattered data into actionable relationship strategies?

From Fragmented Data to Unified Customer Insights

Proptech solutions now enable real estate companies to consolidate data into unified platforms. Proptech helps in engagement and exploration, as well as in deal closures and processing.

This unified approach reveals patterns in buyer behaviour that would otherwise remain hidden:

•     Which property features attract the most attention during virtual tours?
•     What questions do customers ask frequently at different stages?
•     How do location preferences correlate with budget considerations?
•     When are customers most likely to make purchase decisions?

Armed with these insights, developers can create personalised customer journeys.

AI-Driven Relationship Building

The next wave of proptech brings AI-powered conversation models that transform customer data into meaningful dialogue. These systems learn from each interaction, becoming more valuable with use.

This is the future of technology, where you need to connect faster, autonomously at any time.

AI assistants today can engage buyers for a longer period of time. This can also reduce the stress for the sales team as AI can handle customer queries at any time.

What makes this approach effective is the combination of conversation and analytics. Each customer interaction:

•     Answers immediate questions
•     Captures preference data
•     Provides behaviour analytics
•     Builds a more complete customer profile

This creates a feedback loop where customer relationships improve with each engagement.

Extended Reality: Emotional Data Through Virtual Experiences

Virtual and augmented reality (VR-AR) technologies don't just showcase properties, they generate emotional data that can transform relationship management.

When customers explore a property through VR, we can track:

•     Which spaces they spend the most time in
•     Features they interact with most frequently
•     Customisation choices they make
•     Where they hesitate or show uncertainty

These insights reveal unspoken preferences that customers might not articulate in conversations. The data from these interactions helps sales teams address concerns before they become objections.

VR allows customers to explore properties from anywhere in the world. This accessibility generates more meaningful data points than traditional site visits alone.

From Data to Community Building

The most advanced proptech strategies use relationship data to build communities around properties and brands.

With Gen Z buyers entering the market, community has become a driving factor in purchase decisions. Tech enables community and this community-centred approach accelerates what we call “early novelty sales” by creating buzz around developments before they're complete.

Practical Applications for Developers

How can developers put these data strategies into practice?

•     Implement an efficient funnel management system that tracks customer behaviour across all touchpoints
•     Use intuitive exploration tools that capture preference data while improving the buying experience
•     Add engagement analytics to measure how customers interact with property information
•     Automate processes and integrate systems to prevent prospect leakage and create unified customer profiles
•     Deploy extended visualisation tools that generate emotional response data
•     Empower sales partners with shared insights and collaborative tools

Looking Forward

The global proptech market is projected to grow at a CAGR of 15.8% between 2022 and 2030, reaching $94.2 billion. This growth will be driven by technologies that transform raw data into meaningful relationship strategies.

The winners in tomorrow's real estate market won't be those who simply collect the most data. They'll be the ones who transform that data into personalised experiences that make customers feel understood at every step of their journey.

About the Author: Dedicated to revolutionize realty sales, Samudragupta stands at the forefront of transformative technology and empowerment of real estate. Under his leadership, Relata has facilitated the sale of close to $1.8 billion worth of inventories over the last few years.