Real Estate’s Tech Revolution Is Here
- Stephanie Roulic
- May 28
- 3 min read
Real estate has long been known as one of the world’s largest and most traditional industries. But today, it is standing at the intersection of major change: rising interest rates, labor shortages, shifting office demand, housing constraints, and growing pressure to modernize. Into that uncertainty steps proptech - the wave of technology companies using software, AI, automation, and data to rethink how buildings are bought, leased, managed, and experienced.
That was the focus of a Startup Boston Week panel featuring Farhan Abbasi (CEO, Nue Holdings), Ben Epstein (CTO, Grotto), and Peter Mugford (Cofounder, Revise). Together, they unpacked where real estate technology is headed, what problems remain unsolved, and why the future may depend less on buildings alone and more on the people inside them.
Real Estate’s Massive Economic Footprint
To understand why proptech matters, the panel began with scale.
According to Abbasi, U.S. real estate represents roughly $70 trillion in asset value, employs millions of workers, and funds local governments through property taxes that support everything from infrastructure to education. Yet despite its economic importance, many parts of the industry still rely on fragmented systems, manual workflows, and outdated processes.
That creates fertile ground for innovation.
Why AI Is Suddenly Everywhere in Real Estate
For Mugford, the most visible trend right now is AI-driven automation.
Commercial real estate, he explained, is full of repetitive work: compiling rent rolls, vacancy reports, demand summaries, market research, and administrative tasks that often consume valuable time. AI tools are increasingly being introduced to streamline those functions so brokers, landlords, and operators can focus on higher-value decisions.
Epstein agreed, but added an important caveat: not every task should be automated simply because it can be.
Instead, he argued, the bigger opportunity is using AI to process enormous datasets and uncover insights humans would otherwise miss. In his company’s case, that means analyzing leasing calls and renter interactions to improve outcomes rather than replacing people entirely.
The Industry’s Biggest Problem? Data Hoarding
One of the liveliest parts of the conversation centered on data transparency.
Mugford criticized the commercial real estate industry for its tendency to guard information rather than share it. Availability data, landlord performance, tenant experiences, and market intelligence are often siloed within brokerages or individual firms, limiting efficiency and slowing decision-making.
In some cases, he noted, even landlords intentionally keep vacancy information difficult to access in order to force inquiries through brokers.
Epstein said similar issues exist in multifamily housing, where legacy property management systems can charge steep fees for limited API access or provide unreliable integrations. That makes it harder for startups to build better renter experiences or automate workflows.
For proptech founders, this means solving not just customer pain points, but infrastructure resistance.
The Human Side of Proptech
While technology often focuses on buildings, both panelists emphasized that the best opportunities may center on people.
Mugford believes many existing tools are built for landlords, investors, or operators rather than occupants. His view: the companies that best understand tenant needs, workplace preferences, and user experience will win long term.
Epstein echoed that idea in multifamily housing. His company uses AI to help leasing teams have more personalized, effective conversations with prospective renters. Rather than automating away human interaction, the goal is to improve it.
That distinction matters. A renter deciding where to live or a company selecting office space is making a deeply personal decision…one that still benefits from trust, nuance, and context.
Can Technology Help Housing Affordability?
When asked about affordable housing, the panel acknowledged no easy fix exists. But they pointed to areas where innovation could help:
Faster lease-up times that reduce unit vacancy
Better forecasting for move-ins and move-outs
More efficient construction workflows
Smarter underwriting and project feasibility tools
Improved operational efficiency that lowers long-term costs
While proptech alone will not solve the housing crisis, it may remove friction that keeps units offline or projects delayed.
The Next Wave: Vertical AI Wins
A final audience question asked whether giant AI companies could simply replace niche proptech startups.
Epstein’s answer was clear: general tools solve general problems.
Real estate, he argued, is full of highly specific operational quirks, customer behaviors, workflows, and compliance needs that require purpose-built solutions. A broad AI platform may power the engine, but startups focused deeply on one vertical are still best positioned to solve those real-world problems.
Final Takeaway
The future of proptech may not be flashy robots or fully automated buildings. It may be simpler than that: better data, smarter workflows, more responsive service, and technology that helps humans make stronger decisions.
Real estate has historically moved slowly. But as market pressures mount, the industry may finally be ready to move faster. And for founders willing to tackle messy systems, guarded data, and overlooked user experiences, the opportunity is enormous.
