In a surprising turn of events, Reapit, the venerable CRM system used by a quarter of UK estate agents, seems to have missed a trick at their recent Elevate 24 event. The company, which has been a stalwart in the property technology sector for nearly 25 years, unveiled its new offerings for 2024 without so much as a whisper about artificial intelligence.
This conspicuous absence of AI in Reapit's press release is particularly striking given the current climate in tech circles. While some might view this as a refreshing break from the relentless AI hype, for a major player in property technology, it's akin to showing up at a Formula 1 race with a horse and cart.
The question that springs to mind is whether this omission was a mere oversight by the marketing team or indicative of a more concerning lack of AI strategy within Reapit. Either scenario raises eyebrows, especially when contrasted with competitors like Spectre, who launched their next-gen offerings on the same day, leaning heavily into AI capabilities.
Reapit's position in the market makes this silence on AI all the more perplexing. With a client list that includes industry giants like Countrywide and Savills, and a reputation for reliable combined sales and lettings platforms, one would expect them to be at the forefront of technological advancements.
The property tech landscape is evolving at breakneck speed. New entrants like STREET, Spectre's sister company, are making waves with AI-powered solutions. Even traditional behemoths like Rightmove are feeling the pressure from AI-driven challengers. In this context, Reapit's apparent lack of enthusiasm for AI feels less like a strategic choice and more like a dangerous oversight.
Of course, it's possible that Reapit has AI initiatives simmering behind the scenes. Perhaps they're taking a 'show, don't tell' approach. But in an industry where perception often drives adoption, their silence on the matter is deafening.
As estate agents increasingly look to technology to streamline operations and gain a competitive edge, they'll naturally gravitate towards solutions that embrace cutting-edge tech. If Reapit doesn't start trumpeting its AI credentials soon, they might find themselves playing catch-up in a race they once led.
In the end, Reapit's reticence on AI at Elevate 24 feels less like an elevated vision for the future and more like a missed opportunity. In the fast-paced world of property tech, standing still is tantamount to moving backwards. One can only hope, for the sake of Reapit and the agents who rely on them, that they haven't missed the AI boat entirely.
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