The PropTech landscape is evolving at an unprecedented pace, and at this month's Real Estate Financial Executives Association (REFEA) luncheon, industry leaders gathered to discuss the latest strategies for streamlining technology, centralizing operations, and driving innovation in real estate. Hosted by BGSF, "The PropTech Playbook" panel brought together key industry voices to share their insights on the challenges and opportunities in real estate technology.
The panel was moderated by Stuart Sides, BGSF's Executive Vice President of Strategic Solutions, and included Andrew Hill, BGSF's Senior Vice President of the Property Management Division, and Christie Barnett, Vice President of PropTech for Willow Bridge.
Key Themes from the Panel
Tech Consolidation & Optimization
A growing number of real estate companies are struggling with an overwhelming number of technology platforms, with hundreds of platforms creating inefficiencies rather than improving operations. The consensus from the panel was clear: streamlining tools, eliminating redundancies, and optimizing existing technology are critical.
A significant issue arising from multiple technology platforms is the creation of data silos. These silos impede seamless data integration, leading to operational inefficiencies and increased costs. For instance, different tools and platforms may not integrate, requiring custom solutions or manual processes to transfer data. Streamlining technology platforms can lead to substantial cost savings and operational improvements. Consolidating workflows across energy reporting, maintenance, tenant billing, and capital planning has been shown to reduce expenses by 1-5 cents per square foot.
Andrew also emphasized the importance of understanding technology overlap to reduce unnecessary complexity. He discussed the need for organizations to clean up their tech stack and ensure they are getting the maximum value from their solutions.
AI & Automation
In property management, artificial intelligence (AI) is increasingly reshaping leasing and resident interactions, improving efficiency in routine tasks. However, as discussed by the panel, a balanced approach is necessary. AI can streamline operations, yet human oversight remains essential to ensure compliance and deliver personalized service.
As highlighted in our blog, technology aids efficiency, but human involvement remains key to maintaining strong relationships with residents, handling complex situations, and fostering community engagement. Combining AI with human expertise ensures optimal service delivery and community-building in property management.
Centralization for Efficiency
Centralized operations are no longer a future goal; they are actively being implemented across the industry. From accounts payable and resident screening to leasing and customer service, organizations are shifting toward centralization to reduce redundancies, improve cost control, and enhance the user experience.
Andrew discussed the critical role of AI in enabling centralized operations, ensuring that processes are more efficient while maintaining a high level of service.
Enhancing Resident & Customer Experience
The panelists underscored the importance of a seamless, 24/7 resident engagement model. Companies are currently investing in smart package management solutions and rewards-based payment programs to boost tenant satisfaction and retention.
AI-powered communication platforms are also revolutionizing interactions between property managers and tenants. These sophisticated tools automate responses, provide data-driven insights, and foster a more engaging tenant experience. By leveraging technologies such as chatbots and automated email responses, property managers can streamline workflows, reduce manual tasks, and focus on delivering outstanding service. This transformation not only improves operational efficiency but also elevates tenant satisfaction to new heights.
Fraud Prevention
During the Q&A session, one of the most pressing questions revolved around applicant fraud and the role of technology in detecting and preventing fraudulent activity. With fraud tactics becoming increasingly sophisticated, property managers are investing in advanced screening solutions, better data integration, and trust-building measures to mitigate risk.
The panelists highlighted AI-driven fraud detection tools as a key component of the industry’s defense strategy, offering real-time monitoring, predictive analytics, and automated threat detection. These tools leverage machine learning algorithms to analyze vast amounts of transactional and behavioral data, identifying anomalies and patterns indicative of fraudulent activity.
AI-powered fraud prevention systems can reduce false positives, improve accuracy, and adapt to evolving threats, making them an essential asset in combating financial crime. As fraud schemes become increasingly sophisticated, businesses across industries—including finance, e-commerce, and property management—are integrating AI-driven solutions to safeguard assets, protect consumer trust, and ensure compliance with regulatory requirements.
The Big Picture: Where PropTech is Headed
The real estate industry is embracing PropTech at an accelerated rate to enhance operational efficiency, expand market share, and improve tenant experiences. However, the discussion made one thing clear: technology is only as valuable as its implementation strategy. Balancing automation with the human element remains essential to long-term success.
A huge thank you to our expert panelists—Christie, Andrew, and Stuart—as well as all attendees who contributed to this dynamic discussion. We look forward to seeing how these insights shape the future of PropTech and real estate innovation. Stay tuned for more industry insights from BGSF and contact us today with any PropTech questions you have! Our experts are ready to support you today.
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