Based in Portland, Oregon, Mehariw Gelagay is an entrepreneur whose work spans real estate operations and residential care administration. As leader of Mehari Properties, Inc., and a licensed Realtor in Oregon and Washington, he manages single family and multifamily assets, tenant relations, and property maintenance while assisting clients with sourcing and closing select transactions. He is accredited as a commercial real estate agent and founded Exceed Real Estate LLC in Oregon. Mehariw Gelagay also serves as president and executive director of RoyalCare, Inc., a 24-hour facility supporting adults with intellectual and developmental disabilities. With an MBA from the University of Gondar and earlier gold medal distinction in marketing management from Adama University, he has taught undergraduate courses including HR management and international business. This combined background provides practical context for Property Technology in Real Estate across development, marketing, and operations.
Property Technology in Real Estate
Proptech, short for property technology, refers to digital tools that enhance real estate development, marketing, and management. The sector grows because buyers and renters want faster service, greener buildings, and digital-first experiences. Trends and stats prove this. In 2024, the global proptech industry reached a $36.6 billion valuation, with North America holding 38 percent of this total. This surge can be attributed to the clear gains these technologies bring for property owners and customers.
Property technologies support the development process. During the initial stages, many professionals now turn to artificial intelligence (AI) and predictive analytics tools to help with planning: i.e., analyzing market data, construction costs, and design options. These tools guide development decisions. With predictive tools, they can forecast demand, property values, and even construction risks and choose the right projects or optimize designs. Virtual reality and augmented reality help architects, engineers, and developers test designs, secure approvals from stakeholders, and even pre-lease property under construction.
Construction technologies have improved efficiency and the time it takes to build structures from the ground up. Building information modeling creates digital versions of structures that let teams test designs, check how they will perform, and catch problems before breaking ground. Some markets now use 3D printing and factory-built modules to cut both time and expenses. Technologies like digital twins, paired with IoT sensors, show how buildings will function once people move in. Developers also embed smart systems for lighting, energy management, and climate control into new builds. These features help track energy consumption, occupancy levels, and environmental factors while meeting tenant expectations.
Real estate operations also benefit from big data and advanced analytics. Developers, investors, and operators can now collect huge amounts of data, such as on population changes, buyer preferences, sales records, and building performance. Data platforms then combine these separate sources to show market conditions at a glance. Investors use these insights to spot growing areas and predict demand instead of relying on gut feelings or small sets of comparable sales. This approach lets them act fast and with more confidence. On the other hand, developers can reduce risk and match projects to forecast needs through predictive analytics, which estimate construction challenges, population trends, and rental returns.
Marketing strategies have changed with new proptech tools. Immersive technologies, once limited to design teams, now serve as standard sales aids. Potential buyers and renters can tour properties at any time from any location, which shortens sales cycles. Brokers, agents, and managers can list property on search platforms and mobile apps that include filters, neighborhood statistics, rankings, and satellite views. These features give prospects а complete view of the property and its surroundings. Real estate-specific ad platforms like Audience Town target ads to property seekers. Likewise, agents benefit from community-based marketing channels like Nextdoor, which connects them to nearby buyers/renters.
Besides marketing, lead generation and conversions benefit from proptech. Interactive lead capture tools like Google One Tap, an instant sign-in feature, turn casual visitors into leads by lowering friction related to sign-ups. CRM systems then score these leads, monitor their activity, and send follow-up messages. Sales teams can share updates tailored to each prospect’s interests. Chatbots and virtual assistants help answer FAQs and user-specific queries instantly and guide them through listings. This immediate responsiveness increases the time prospects spend on a site, raising the chance they will complete а transaction.
With proptech, real estate transactions now require less paperwork and fewer face-to-face meetings. E-signing platforms allow parties to sign contracts from remote locations with full legal standing and fewer mistakes or delays. Blockchain technology adds security and transparency to these transactions. Smart contracts release payments, transfer ownership, and file documents when transacting parties meet set conditions; this reduces the need for middlemen. In the same way, cloud platforms put listings, financing details, and documents in а single place.
About Mehariw Gelagay
Mehariw Gelagay is a Portland, Oregon real estate entrepreneur and care services leader. He heads Mehari Properties, Inc., is licensed in Oregon and Washington, and manages single family and multifamily properties while assisting clients with acquisitions and sales. He founded Exceed Real Estate LLC in Oregon. He also serves as president and executive director of RoyalCare, Inc., a 24-hour residential facility for adults with intellectual and developmental disabilities. He holds an MBA from the University of Gondar, earned gold medal distinction in marketing at Adama University, and has taught undergraduate business courses.
