INTERNATIONAL PROPTECH STANDARDS Standards? Norms? Guidelines? Regulation of real estate and construction sectors?
PropTech Academy and PropTech Switzerland teams have developed (invented) the first international PropTech standards to regulate the real estate and construction sectors in the world. The PropTech sector is 10 years old now. Naturally, it all began with digitization and the internet early in 2000. There are more than 8.000 tech companies in real estate and construction sectors now, and more companies are coming year and year. Currently, standards and norms do not cover the new sector “PropTech” and also the new companies according to the business models, services and products. The currently regulation institutions do not have compatible regulation process and standards for that new business area. There are a few international institutions who offer classical certification process for the companies in all sectors. But they do not have special criteria and evaluation method for the real estate and construction companies. In real estate sector there are some other organizations which certificate only individuals with general real estate market criteria. The new market “PropTech” needs new rules, new standards and new norms for the markets and market players. PropTech (property technology) contains the lifecycle of building and consists of technology, innovation and sustainability. It is not part of the existing real estate, construction and finance sectors. It is a major sector which connects three sectors. PropTech will change the identity of the existing and also established companies in these markets. After 10 years there will be more than 30.000 tech companies in these sectors worldwide. The important question is; “How we can control the new market and regulate the new companies and new business areas? For thousands of years the human needed the regulation or rules to live together and work together. After the industrial revolution
