Proptech is revolutionizing the real estate industry, providing property developers and real estate agents with effective solutions to streamline their sales channels and projects. By leveraging these innovative technologies, they can rapidly expand their networks and achieve quicker property sales. One notable proptech company, Arcanite, has recently achieved a significant milestone, with over $1.1 billion worth of properties sold on its platform.
According to Founder and CEO William D. Lin, succeeding in the off-the-plan space requires a departure from traditional real estate sales methodologies. He emphasizes the necessity of employing the right tools that cater to the specific needs of project sales while addressing the demands for accessibility, convenience, and the fast-paced nature of the industry.
Arcanite has developed a groundbreaking tool called DragonVR, which empowers developers, builders, and agents to showcase upcoming developments even before construction begins. This virtual reality solution enables prospective buyers to experience the property firsthand, enhancing their understanding and engagement.
Recognizing the potential to further assist homebuyers, Arcanite is expanding its expertise into the realm of fintech with Equimate. This new offering aims to support eligible first home buyers who have limited savings for a deposit by providing them with the necessary financing options to realize their dream of homeownership.
Phil Foweraker, CEO of Equimate, expressed their goal of granting thousands of Australians the opportunity to invest in property at an earlier stage. Foweraker highlighted the challenges faced by many aspiring homebuyers, from saving for a deposit to covering additional costs such as bank fees and Lenders Mortgage Insurance (LMI). Equimate aims to alleviate these financial burdens and reduce the LMI premiums typically associated with standard lending institutions.
Arcanite and Equimate have found a home at Stone & Chalk’s new Sydney Scaleup Hub. CEO Michael Bromley praises the utilization of DragonVR to showcase the hub’s workspaces, as it breaks down barriers between potential tenants and real estate owners. Bromley sees the potential for Arcanite and Equimate to contribute to Australia’s economic futureproofing efforts and diversify entry conditions to reach a broader market segment.
In summary, proptech, led by innovative companies like Arcanite, is revolutionizing the real estate industry. Their cutting-edge solutions, such as DragonVR and Equimate, enable property professionals to enhance sales processes, improve accessibility, and empower aspiring homebuyers to enter the market more quickly. Through these advancements, the industry is moving towards a future where efficiency, convenience, and financial inclusivity become the norm.
